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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61001, encompassing Apple Canyon Lake in Illinois, contains 24 LIHTC-funded affordable housing units, all classified as low-income. The zip code spans 40.59 square miles with a 2022 population of 1,567. Using the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 600 units. LIHTC-funded affordable housing represents about 4% of the estimated housing inventory in zip code 61001.
The LIHTC projects in zip code 61001 have received $40,219 in tax credits for affordable housing development, averaging approximately $1,676 per unit. Two LIHTC-funded projects exist in this zip code: Meadow Lane Senior Apts and Apple River Housing, completed in 1992 and 1993 respectively. This indicates that affordable housing has been present in this area for about three decades.
The 1990s saw the most affordable housing development activity in zip code 61001. The housing inventory primarily consists of one-bedroom units (20) and a small number of two-bedroom units (4). This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, the population in zip code 61001 has shown overall growth, increasing from 1,353 in 2013 to 1,567 in 2022. The median income has also risen, from $52,514 in 2013 to $62,761 in 2022, indicating improving economic conditions for residents.
The racial composition of zip code 61001 has remained relatively stable, with a predominantly white population (94% in 2022). There has been a slight increase in diversity, with small increases in Hispanic representation and residents identifying as two or more races.
Despite the population growth and rising median income, no new LIHTC projects have been developed in zip code 61001 in the last decade. This could suggest that the existing affordable housing stock is meeting current needs, or that other factors are influencing affordable housing development decisions in the area.
Zip code 61001 has a small but established affordable housing inventory funded through the LIHTC program. The two projects, developed in the early 1990s, provide 24 low-income units, primarily consisting of one-bedroom apartments. While this represents a small portion of the estimated housing inventory, it has remained stable for nearly three decades. The area has experienced population growth and increasing median incomes over the past decade, but this has not led to additional LIHTC-funded affordable housing development. The racial composition of the area has remained predominantly white, with slight increases in diversity in recent years.