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Affordable Housing Inventory and Demographic Trends in Zip Code 61455: A Two-Decade Overview
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 61455 in Macomb, Illinois, contains a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 344 total units in LIHTC-funded projects, with 237 of these designated as low-income units. Based on the estimated 6,737 housing units in the zip code, the LIHTC-funded affordable housing comprises approximately 5.1% of the area's housing inventory.
The LIHTC projects in zip code 61455 have received $5,827,755 in tax credits, averaging about $16,942 per unit in federal funding. This zip code holds 0.72% of the total state LIHTC funding, indicating a notable investment in affordable housing for the area.
The affordable housing presence in zip code 61455 spans nearly two decades, with the earliest project, Turnberry Village Macomb, completed in 2001, and the most recent named project, Village At Wheeler, finished in 2009. The 2000s decade saw the most affordable housing activity, with three of the four projects completed during this period.
The LIHTC-funded housing inventory in zip code 61455 offers a diverse range of unit types. It includes 1 efficiency unit, 160 one-bedroom units, 45 two-bedroom units, and 57 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 61455 has experienced a steady decline in population, dropping from 21,568 in 2015 to 17,583 in 2022. Despite this decline, the median income has shown some fluctuation, rising from $38,730 in 2015 to $37,056 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population from 85% in 2015 to 82% in 2022, and small increases in Asian and Black populations.
Zip code 61455 demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. These units cover a modest portion of the total housing inventory, providing essential low-income housing options. The area has experienced demographic shifts, including population decline and income fluctuations, which may influence future affordable housing needs. The diverse unit types in LIHTC projects suggest an effort to accommodate various household compositions within the low-income population.
