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Affordable Housing in Zip Code 61957: Three Decades of LIHTC Presence
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 61957 in Illinois covers an area of 84.05 square miles with a population of 2,081 in 2022. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 24 units, all of which are low-income units. Based on the estimated housing inventory of approximately 797 units, the LIHTC-funded affordable housing represents about 3% of the zip code's housing stock.
The LIHTC project in this zip code received $12,803 in tax credits, averaging $533 per unit in federal funding. The project, Martin Lamplighter, was completed in 1989, indicating over 30 years of affordable housing presence in the area. Martin Lamplighter consists of 13 one-bedroom units and 11 two-bedroom units, offering housing options for various household sizes within the affordable housing inventory.
Over the past decade, zip code 61957 has experienced demographic changes. The population decreased from 2,418 in 2014 to 2,081 in 2022, a decline of about 14%. Despite this population decrease, the median income increased from $50,891 in 2014 to $61,166 in 2022, a rise of approximately 20%.
The racial composition of zip code 61957 has remained relatively stable, with the white population consistently representing 95-97% of residents. There has been a slight increase in Hispanic representation, growing from 0% in 2014 to 3% in 2022, indicating a small but growing diversity in the area.
Zip code 61957 has maintained a single LIHTC-funded affordable housing project since 1989, providing 24 low-income units. This project contributes to the affordable housing stock, representing a small percentage of the estimated total housing inventory. The area has experienced a population decline over the past decade, coupled with an increase in median income. These demographic shifts, along with the stable racial composition, provide context for understanding the affordable housing landscape in this zip code. The long-standing presence of the LIHTC project suggests a consistent, albeit limited, contribution to addressing affordable housing needs in the area.
