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Affordable Housing in Zip Code 62801: LIHTC Impact on Centralia, Illinois
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 62801 in Centralia, Illinois, contains a notable inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The area encompasses 218 total units in LIHTC-funded projects, with 173 designated as low-income units. Based on the 2022 population of 20,967 and an estimated 8,033 housing units in the zip code, LIHTC-funded affordable housing constitutes approximately 2.71% of the total housing stock.
The LIHTC program has invested $6,166,805 in tax credits for affordable housing projects in zip code 62801. This equates to an average federal funding of $28,288 per unit. This zip code accounts for 0.76% of the total LIHTC funding allocated to the state of Illinois.
The affordable housing presence in zip code 62801 spans over two decades. The earliest LIHTC project, Martin Lamplighter (Centralia), was completed in 1989, while the most recent, Maplewood Estates, was finished in 2012. The 2000s witnessed the most development activity, with four out of six projects completed during this decade.
The LIHTC-funded housing stock in zip code 62801 comprises a mix of unit types, including 69 one-bedroom units, 105 two-bedroom units, and 44 three-bedroom units. This range of unit sizes accommodates various household compositions within the low-income population.
Over the past decade, zip code 62801 has experienced a steady decline in population, decreasing from 22,959 in 2014 to 20,967 in 2022. Despite this population decrease, the median income has shown an overall upward trend, rising from $41,522 in 2014 to $49,451 in 2022.
The racial composition of zip code 62801 has remained relatively stable. The white population decreased slightly from 83% in 2014 to 81% in 2022, while the Black population increased from 9% to 10% during the same period. The Hispanic population has maintained a steady 4% since 2018.
Zip code 62801 in Centralia, Illinois, has a modest LIHTC-funded affordable housing inventory, representing about 2.71% of the estimated total housing stock. The area has received over $6 million in LIHTC investments, spanning projects from 1989 to 2012. Despite a declining population, the area has experienced rising median incomes and maintained a relatively stable racial composition over the past decade. The mix of unit types in LIHTC projects indicates an effort to accommodate diverse household needs within the low-income population.
