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Affordable Housing Analysis in Zip Code 27410: LIHTC Projects and Demographic Trends
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 27410 in Greensboro, North Carolina, contains 196 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 124 designated as low-income units. This represents approximately 0.96% of the estimated 20,480 housing units in the zip code. The LIHTC projects in this area have received $1,424,610 in tax credits, averaging about $7,268 per unit. This funding constitutes 0.33% of the total LIHTC credits allocated to North Carolina.
The affordable housing landscape in zip code 27410 has developed over time. Seager Place, completed in 2004, is the earliest known LIHTC project in the area. Muirs Landing, finished in 2020, is the most recent addition, demonstrating a continued commitment to affordable housing over at least 16 years. The 2020s saw the most recent affordable housing development in this zip code.
The LIHTC-funded projects in this area offer a variety of unit types, focusing on one and two-bedroom apartments. There are 70 one-bedroom units, 106 two-bedroom units, and 20 three-bedroom units, catering to diverse household sizes and needs.
Over the past decade, the population in zip code 27410 has remained relatively stable, with minor fluctuations. The median income has shown an upward trend, increasing from $70,080 in 2013 to $79,949 in 2022. This rise in median income may influence the ongoing need for affordable housing in the area.
Racial demographics have shifted slightly, with the white population decreasing from 75% in 2013 to 68% in 2022. Concurrently, there has been a small increase in Asian, Hispanic, and multi-racial populations. These demographic changes could impact the demand for diverse and affordable housing options.
Zip code 27410 in Greensboro has a modest but significant LIHTC-funded affordable housing inventory, representing nearly 1% of the estimated total housing units. The area has seen continued investment in affordable housing over at least 16 years, with projects accommodating various household sizes. While the median income has increased, demographic shifts suggest an ongoing need for diverse and affordable housing options. The LIHTC program continues to play a crucial role in supporting affordable housing in this community.
