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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 61270 in Morrison, Illinois, features a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This area contains a total of 28 units in LIHTC funded projects, with 25 units designated as low-income. Based on the 2022 population of 7,832 and an estimated 3,001 housing units, LIHTC funded affordable housing comprises approximately 0.93% of the zip code's estimated housing inventory.
The LIHTC program has invested $259,609 in tax credits for affordable housing projects in zip code 61270. This equates to an average federal funding of $9,272 per unit. This funding represents 0.03% of the total LIHTC allocations in Illinois, indicating a modest contribution to the state's affordable housing efforts.
The affordable housing in this zip code consists of a single project, Green View Estates, completed in 2006. This project has provided affordable housing options for over 15 years, demonstrating a long-term commitment to addressing housing needs in the area. All 28 units in this project are two-bedroom units, suitable for small families or individuals requiring additional space.
The population in zip code 61270 has remained relatively stable over the past decade, fluctuating between 7,500 and 8,000 residents. The median income has shown a gradual increase, rising from $62,575 in 2017 to $70,166 in 2022. This upward trend in income may indicate a growing need for affordable housing options to support lower-income residents who may face increased housing costs.
The racial composition of zip code 61270 has remained predominantly white, consistently above 90% throughout the past decade. There has been a slight increase in diversity, with the Hispanic population growing from 2% to 3% between 2013 and 2022. This demographic stability suggests that affordable housing needs have likely remained consistent over time.
In summary, zip code 61270 in Morrison, Illinois, has a modest but important LIHTC funded affordable housing presence. With 28 total units, including 25 low-income units, the area has made efforts to address affordable housing needs. The single project, Green View Estates, has served the community since 2006, providing two-bedroom units that cater to various household sizes. While the LIHTC funded housing covers less than 1% of the estimated housing inventory, it represents a significant investment in the community's affordable housing infrastructure. The demographic trends, including a stable population and gradually increasing median income, suggest an ongoing need for affordable housing options in this area.