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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27409 in Greensboro, North Carolina, has a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 61 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 18,816 and an estimated 7,209 housing units in the zip code, LIHTC funded affordable housing represents approximately 0.85% of the total housing stock. This suggests that LIHTC funded projects contribute to a small portion of the area's affordable housing needs.
The LIHTC program has provided $167,130 in tax credits for affordable housing projects in this zip code. With 61 total units, this translates to an average federal funding of about $2,740 per unit. This zip code accounts for 0.04% of the total LIHTC funding allocated to the state of North Carolina.
Two notable LIHTC funded projects in the area are River Birch and Talbot Court. Talbot Court, completed in 2021, is the most recent addition to the affordable housing inventory in the zip code. It offers 56 units, comprising 32 one-bedroom and 24 two-bedroom apartments. River Birch, with its completion year unavailable, provides 5 three-bedroom units.
The housing mix in LIHTC funded projects in this zip code consists of 32 one-bedroom units, 24 two-bedroom units, and 5 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the zip code has experienced fluctuations in population growth. The population increased from 17,023 in 2013 to a peak of 19,923 in 2018, before declining to 18,816 in 2022. Median income has shown an overall upward trend, rising from $52,091 in 2013 to $56,302 in 2022, with some fluctuations in between.
The racial composition of the zip code has remained relatively stable over the past decade. The white population has slightly decreased from 50% in 2013 to 46% in 2022, while the Black population has remained relatively constant, ranging between 32-36%. The Asian population has shown a modest increase from 4% in 2013 to 7% in 2022.
The completion of Talbot Court in 2021 coincides with a period of relative population stability and increasing median income in the zip code. This suggests that despite overall economic improvements, there remained a need for affordable housing options in the area.
Zip code 27409 in Greensboro, North Carolina, has a small but present LIHTC funded affordable housing inventory, representing less than 1% of the estimated total housing stock. The area has seen two LIHTC projects, with the most recent completed in 2021. The demographic trends over the past decade show a relatively stable population with increasing median income, indicating an ongoing need for affordable housing options despite economic improvements. The LIHTC program has played a role in addressing this need, though it represents a small portion of the overall housing market in this zip code.