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Affordable Housing Landscape in Zip Code 61114: LIHTC Program Impact in Rockford, Illinois
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61114 in Rockford, Illinois, exhibits a diverse affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The area contains 132 total units in LIHTC-funded projects, with 78 of these designated as low-income units. Based on the 2022 population of 15,323 and an estimated 5,871 housing units, the LIHTC-funded affordable housing represents approximately 2.25% of the zip code's housing inventory.
The LIHTC projects in this zip code have received $1,208,317 in tax credits, averaging about $9,154 per unit. This funding represents 0.15% of Illinois' total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
The zip code has two LIHTC-funded projects: Forest Glen Apt, completed in 1996, and Wildberry Village Apts, for which the completion year is not specified. This suggests that affordable housing has been present in the area for at least 27 years. The 1990s saw the most affordable housing development in this zip code.
The housing mix in these projects includes 8 one-bedroom units, 42 two-bedroom units, and 46 three-bedroom units. This distribution favors family-sized accommodations, with a focus on two and three-bedroom apartments.
Over the past decade, the zip code's population has remained relatively stable, with slight fluctuations. The median income has shown an upward trend, rising from $74,091 in 2013 to $85,767 in 2022. This increase in median income might suggest a growing need for affordable housing options to maintain economic diversity in the area.
Racial demographics have shifted slightly, with the white population decreasing from 81% in 2013 to 73% in 2022. There has been a modest increase in Black, Hispanic, and Asian populations, indicating growing diversity that may benefit from continued affordable housing options.
Zip code 61114 in Rockford, Illinois, has a small but established affordable housing presence through the LIHTC program. While the current inventory represents a small percentage of the total estimated housing units, it provides crucial low-income housing options. The area's demographic trends, including rising median income and increasing diversity, underscore the ongoing importance of maintaining and potentially expanding affordable housing options to ensure a balanced community.
