The Pheasant Ridge & Hunter Apartments, completed in 2001, is the sole LIHTC-funded project in this zip code. This project has provided affordable housing options to the community for over two decades, demonstrating a long-term commitment to addressing housing affordability in the area.

The Pheasant Ridge & Hunter Apartments project consists of 176 units, including 6 one-bedroom, 88 two-bedroom, and 28 three-bedroom apartments. This unit mix caters to various household compositions, from individuals to small families.

Over the past decade, the zip code has experienced demographic shifts. The population has remained relatively stable, decreasing slightly from 25,874 in 2015 to 24,810 in 2022. The median income has increased significantly, rising from $101,009 in 2015 to $109,463 in 2022, with a peak of $128,576 in 2021.

Racial demographics have evolved. The white population has decreased from 83% in 2015 to 80% in 2022. Hispanic representation has increased from 6% in 2015 to 10% in 2022. The Black population has increased from 2% to 5% during this period.

These demographic changes, particularly the rising median income, may influence the ongoing need for affordable housing in the area. However, the persistent presence of the LIHTC-funded project suggests that a segment of the population continues to benefit from these affordable housing options.

Zip code 60487 in Tinley Park, Illinois, features a single LIHTC-funded affordable housing project serving the community since 2001. The 176 affordable units represent a small percentage of the estimated housing inventory but play a crucial role in providing affordable housing options. The area has experienced demographic changes over the past decade, including rising median incomes and increasing diversity, which may impact future affordable housing needs. The long-standing presence of the LIHTC project underscores the ongoing importance of affordable housing initiatives in this community.