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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60625 in Chicago, Illinois, contains a diverse affordable housing inventory supported by the Low-Income Housing Tax Credit (LIHTC) program. This area has a total of 125 units in LIHTC-funded projects, with 117 designated as low-income units. The LIHTC-funded affordable housing represents approximately 0.4% of the zip code's estimated housing stock of 31,100 units.
The LIHTC projects in zip code 60625 have received $1,628,513 in tax credits, averaging about $13,028 per unit. This allocation represents 0.2% of the total LIHTC funding for Illinois, indicating a modest investment in affordable housing for this area.
Affordable housing has been present in zip code 60625 for over three decades. The first LIHTC project, "4867 N Washtenaw Ave," was completed in 1988. The most recent addition, "Darul Amaan," was built in 2014. The 1990s saw the most activity, with two projects completed: "Central Park Apts" in 1993 and "2800-14 W Montrose" in 1998.
The LIHTC-funded housing in zip code 60625 offers a mix of unit types, including 5 efficiencies, 36 one-bedroom units, 17 two-bedroom units, 3 three-bedroom units, and 3 four-bedroom units. This range of options caters to various household sizes and needs within the community.
The population in zip code 60625 has remained relatively stable over the past decade, fluctuating between 79,000 and 81,000 residents. The median income has shown an overall upward trend, increasing from $62,672 in 2013 to $73,534 in 2022, with a peak of $78,767 in 2021. This rise in median income suggests a changing economic landscape in the area.
Racial demographics in zip code 60625 have remained fairly consistent, with minor shifts. The white population increased slightly from 42% in 2013 to 44% in 2022, while the Hispanic population decreased from 38% to 33% during the same period. The Asian population increased from 13% to 15%, and the Black population remained steady at 4%. These demographic changes may influence the ongoing need for affordable housing in the area.
Zip code 60625 in Chicago has an established LIHTC-funded affordable housing inventory, representing a small portion of its overall housing stock. The area has seen consistent investment in affordable housing over three decades, with projects catering to various household sizes. While the population has remained stable, the rising median income and slight shifts in racial demographics suggest a dynamic community that may continue to benefit from affordable housing options to maintain its diversity and inclusivity.