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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60540 in Naperville, Illinois contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This area has a total of 3 affordable units, all of which are designated as low-income units. Based on the 2022 population of 44,119 and an estimated 16,904 housing units, the LIHTC-funded affordable housing comprises approximately 0.02% of the zip code's estimated housing inventory. This percentage indicates that LIHTC-funded affordable housing constitutes a minimal portion of the overall housing stock in this area.
The LIHTC program has provided $31,594 in tax credits for affordable housing projects in zip code 60540. With 3 total units funded, this amounts to an average of $10,531 in federal funding per unit. The single LIHTC-funded project in this zip code is Naper Grove Comm (Naperville), which was completed in 1989. This project has been offering affordable housing options in the area for over three decades.
All 3 units in the LIHTC-funded project are two-bedroom units, suggesting a focus on accommodating small families or individuals who require additional space. The project does not have a specified target population, indicating it may serve a diverse range of low-income residents.
Zip code 60540 has experienced some notable demographic changes over the past decade. The population has remained relatively stable, with a slight decrease from 45,139 in 2016 to 44,119 in 2022. However, the median income has seen significant fluctuations, rising from $123,382 in 2016 to a peak of $145,928 in 2021, before decreasing to $132,813 in 2022.
Racial distribution in zip code 60540 has shown some changes. The white population has decreased from 73% in 2016 to 71% in 2022, while the Asian population has increased from 12% to 14% during the same period. The Hispanic population has also grown from 8% to 9%. These shifts indicate a gradually increasing diversity in the area.
Despite these demographic changes, there have been no new LIHTC projects in zip code 60540 in the past decade. The high median income of the area, consistently above $120,000 since 2013, may suggest a lower need for additional affordable housing through the LIHTC program.
Zip code 60540 in Naperville, Illinois has a single LIHTC-funded affordable housing project with 3 two-bedroom units, completed in 1989. This project represents a very small portion (0.02%) of the estimated housing inventory in the area. The zip code has seen stable population levels but significant income fluctuations over the past decade, along with gradual increases in racial diversity. The consistently high median income may explain the lack of new LIHTC projects in recent years.