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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27217 in Burlington, North Carolina, contains a modest LIHTC-funded affordable housing inventory. The area has 5 total affordable units, all designated as low-income units. Based on the 2022 population of 37,820 and an estimated 14,490 housing units, the LIHTC-funded affordable housing covers approximately 0.03% of the zip code's estimated housing inventory.
The LIHTC program has invested $191,599 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $38,320 per unit. This zip code accounts for 0.04% of the total LIHTC funding allocated to North Carolina.
The only LIHTC-funded project in this zip code is Graham Village Apartments, completed in 1995. This development has been providing affordable housing in the area for nearly three decades. The project consists of 3 two-bedroom units and 2 three-bedroom units, offering a mix of housing options for different family sizes.
Over the past decade, the zip code has experienced slight fluctuations in population, with an overall growth trend. The population increased from 34,103 in 2013 to 37,820 in 2022. Median income has also shown an upward trend, rising from $36,117 in 2013 to $45,210 in 2022.
Racial demographics have remained relatively stable, with some notable shifts. The white population has decreased slightly from 48% in 2013 to 43% in 2022. The Black population has remained steady at around 30-32%. The Hispanic population has seen the most significant increase, growing from 16% in 2013 to 23% in 2022.
Despite these demographic changes and population growth, there have been no new LIHTC projects in the area since 1995. This could be due to various factors, including changes in funding priorities, local zoning regulations, or the presence of other affordable housing programs not captured in this data.
Zip code 27217 in Burlington, North Carolina, has a single LIHTC-funded affordable housing project, Graham Village Apartments, which has been serving the community since 1995. While this project provides 5 low-income units, it represents a small fraction of the estimated housing inventory in the area. The zip code has experienced moderate population growth and increasing median income over the past decade, along with a notable rise in the Hispanic population. Despite these demographic shifts, there has been no new LIHTC-funded affordable housing development in recent years. This analysis provides a snapshot of the LIHTC-funded affordable housing landscape in this zip code, though other affordable housing programs may be contributing to the area's overall affordable housing stock.