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Affordable Housing Analysis in Zip Code 27545: Two Decades of LIHTC Projects in Knightdale, NC
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 27545, located in Knightdale, North Carolina, has a population of 32,685 as of 2022. This area has a LIHTC-funded affordable housing inventory of 182 total units, with 128 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 1.45% of the zip code's estimated 12,523 housing units.
The LIHTC projects in zip code 27545 have received $2,422,127 in project tax credits, averaging $13,308 in federal funding per unit. This funding represents 0.55% of North Carolina's total LIHTC allocation. Affordable housing has been present in this zip code for over two decades, with the first LIHTC project completed in 1990 and the most recent finished in 2013. The 1990s saw the most activity in affordable housing development, with three projects completed during this decade.
The LIHTC-funded housing in zip code 27545 offers a variety of unit types, including 36 one-bedroom units, 102 two-bedroom units, and 44 three-bedroom units, catering to diverse household sizes and needs.
Over the past decade, zip code 27545 has experienced significant population growth, increasing from 25,447 in 2013 to 32,685 in 2022, a 28.4% increase. Median income has risen from $64,666 in 2013 to $71,864 in 2022. The racial composition of the zip code has shifted slightly, with the Black population increasing from 33% in 2013 to 38% in 2022, while the White population decreased from 44% to 38%. The Hispanic population has remained relatively stable at around 17-19%.
Zip code 27545 has an established foundation of LIHTC-funded affordable housing, with projects spanning over two decades. The current inventory covers a small percentage of the total housing stock. The area's rapid population growth and changing demographics suggest an ongoing need for affordable housing options. The mix of unit sizes in LIHTC projects reflects an effort to accommodate various household compositions, contributing to the area's housing diversity.
