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Affordable Housing Trends in Chicago Zip Code 60634: A Decade of LIHTC Projects
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 60634 in Chicago, Illinois contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 72 units in LIHTC-funded projects, with 32 designated as low-income units. Based on the 2022 population of 74,553 and an estimated 28,564 housing units, LIHTC-funded affordable housing represents approximately 0.25% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $716,344 in tax credits, averaging about $9,949 per unit when divided by the total number of LIHTC-funded units. This funding represents 0.09% of the total LIHTC credits allocated in Illinois.
There are two LIHTC-funded projects in this zip code, both completed in 2010: "The Senior Suites Of Autumn Green At Wright" and "The Suites Of Autumn Green At Wright Campus." The housing inventory in these projects consists of 24 one-bedroom units and 48 two-bedroom units. Neither project has a specified target population.
Over the past decade, zip code 60634 has experienced population growth. The population increased from 72,824 in 2013 to 74,553 in 2022. Concurrently, the median income rose from $64,895 in 2013 to $73,194 in 2022.
The racial composition of the zip code has changed. The Hispanic population increased from 35% in 2013 to 41% in 2022, while the white population decreased from 59% to 49% during the same period. The Asian population increased from 3% to 6%, and the Black population grew from less than 1% to 3%.
Zip code 60634 in Chicago has a small LIHTC-funded affordable housing presence, with 72 total units and 32 low-income units. The area received $716,344 in tax credits, representing 0.09% of Illinois' LIHTC allocation. Both LIHTC projects were completed in 2010, offering one and two-bedroom units. Over the past decade, the area has experienced population growth, increased median income, and shifts in racial composition, particularly an increase in Hispanic residents. These demographic changes may influence future affordable housing needs in the zip code.
