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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 61482, located in Table Grove, Illinois, contains a unique LIHTC-funded affordable housing inventory. This rural area has a total of 12 affordable units, all of which are designated as low-income units. Based on the 2022 population of 566 and an estimated 217 housing units, the LIHTC-funded affordable housing covers approximately 5.5% of the zip code's estimated housing inventory.
The LIHTC program has invested $10,600 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of about $883 per unit. The zip code's affordable housing inventory consists of one project, Table Grove Apts, completed in 1991. This project has been providing affordable housing options in the area for over three decades.
The Table Grove Apts project offers a mix of unit types, with 7 one-bedroom units and 5 two-bedroom units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, the zip code has experienced a gradual decline in population, from 637 in 2013 to 566 in 2022. Despite this decline, the median income has shown an overall increase, rising from $46,880 in 2013 to $59,051 in 2022. This upward trend in income might indicate a reduced need for additional affordable housing in recent years.
The racial composition of the zip code has remained relatively stable, with the white population consistently representing over 95% of residents. The Hispanic population has fluctuated slightly, reaching 1% in some years but generally remaining below that threshold.
The zip code 61482 in Table Grove, Illinois, has a small but long-standing LIHTC-funded affordable housing presence. The single project, completed in 1991, provides 12 units of affordable housing, representing about 5.5% of the estimated housing inventory. This falls below the target percentage for affordable housing stock.
The area has experienced a gradual population decline over the past decade, coupled with an increase in median income. This demographic shift may influence the current and future needs for affordable housing in the zip code. The stable racial composition suggests a consistent community profile over time.