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Affordable Housing Inventory Analysis in Zip Code 61914: Bethany's LIHTC Funded Units
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 61914, located in Bethany, Illinois, contains 16 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, constitute approximately 2.3% of the estimated 694 housing units in the area, based on the 2022 population of 1,812 and the national average household size of 2.61.
The LIHTC program has invested $8,286 in tax credits for affordable housing projects in this zip code, averaging $517.88 per unit in federal funding. Branch Creek Square Apts, completed in 1994, is the sole LIHTC funded project in the area, providing affordable housing options for nearly three decades.
Branch Creek Square Apts offers 8 one-bedroom and 8 two-bedroom units, catering to various household sizes and needs within the community.
Demographic trends in zip code 61914 show a slight population decrease from 2,069 in 2015 to 1,812 in 2022. The median income has increased overall, rising from $55,267 in 2015 to $63,814 in 2022, with some fluctuations in between.
Racial demographics have remained relatively stable, with the white population consistently comprising 96-99% of residents. A minor increase in diversity occurred between 2015 and 2022, with the Hispanic population growing from 0% to 2% and the percentage of residents identifying as two or more races increasing from 0% to 2%.
The stability in racial demographics and the increase in median income suggest that the need for additional low-income housing may not have significantly changed since the completion of Branch Creek Square Apts in 1994. The modest LIHTC funded affordable housing inventory in zip code 61914 has been a consistent presence in the community for nearly 30 years. The area's demographic trends, combined with the lack of new LIHTC projects in recent years, indicate a relatively stable affordable housing situation in the zip code.
