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Affordable Housing in Zip Code 61065: The Glen At Belvidere's Impact on Poplar Grove
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61065 in Poplar Grove, Illinois, contains 96 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This zip code spans 49.97 square miles and had a population of 9,586 in 2022. The estimated housing inventory of 3,673 units indicates that LIHTC funded affordable housing comprises 2.61% of the zip code's housing stock.
The LIHTC program has invested $1,154,987 in tax credits in this zip code, averaging $12,031 per unit. This investment represents 0.14% of the total LIHTC funding allocated to Illinois. The sole LIHTC project in the area, "The Glen At Belvidere," was completed in 2011 and has been operational for over a decade.
The Glen At Belvidere offers 96 total units, including 12 one-bedroom units. This composition suggests a focus on accommodating smaller households or individuals within the affordable housing framework.
Demographic shifts in zip code 61065 over the past decade may correlate with the presence of LIHTC housing. The population increased slightly from 9,190 in 2014 to 9,586 in 2022. Median income rose from $65,068 in 2014 to $87,445 in 2022, potentially indicating improving economic conditions.
Racial diversity in the zip code has increased. The white population percentage decreased from 87% in 2014 to 75% in 2022. The Hispanic population grew from 9% to 15%, and the black population increased from 2% to 6%. This gradual diversification may reflect changing housing needs that the LIHTC project addresses.
The LIHTC program has contributed to affordable housing in zip code 61065 through a single project providing 96 low-income units. This represents a small percentage of the estimated housing stock but plays a role in addressing affordable housing needs. The area has experienced economic growth and increasing diversity over the past decade, which may influence future affordable housing demands. The longevity of the existing LIHTC project demonstrates a sustained commitment to providing affordable housing options in this community.
