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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61732, located in Danvers, Illinois, contains a small inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The area has a total of 2 affordable units, all of which are classified as low-income units. Based on the 2022 population of 2,058 and an estimated 789 housing units, the LIHTC-funded affordable housing represents approximately 0.25% of the zip code's estimated housing inventory.
The LIHTC program has invested $13,434 in tax credits for affordable housing projects in zip code 61732. This equates to an average federal funding of $6,717 per unit. The sole LIHTC-funded project in the area is Spencer House, which was completed in 1992. This indicates that affordable housing has been present in the zip code for over three decades.
The project consists entirely of two-bedroom units, suggesting a focus on accommodating small families or couples. No specific target population was identified for this project.
Over the past decade, the population in zip code 61732 has remained relatively stable, fluctuating between approximately 1,900 and 2,150 residents. The median income has shown a steady increase, rising from $75,065 in 2013 to $88,398 in 2022. This growth in median income may partially explain the absence of additional LIHTC projects in recent years, as the area's overall economic status has improved.
The racial composition of zip code 61732 has remained predominantly white, consistently above 90% throughout the decade. There has been a slight increase in racial diversity, with the percentage of residents identifying as two or more races growing from 2% in 2013 to 8% in 2022.
Zip code 61732 has a single LIHTC-funded affordable housing project, Spencer House, which was completed in 1992. The project provides two low-income units, representing a small fraction of the area's estimated housing inventory. While the population has remained relatively stable over the past decade, the median income has shown consistent growth. This economic improvement, coupled with the area's predominantly white demographic composition, may have influenced the lack of additional LIHTC developments in recent years. The existing project continues to provide a modest contribution to affordable housing options in the community.