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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27613 in Raleigh, North Carolina, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 256 total units in LIHTC funded projects, with 103 designated as low-income units. Based on the 2022 population of 42,388 and an estimated 16,241 housing units, LIHTC funded affordable housing comprises approximately 1.58% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 27613 have received $2,252,126 in tax credits, averaging about $8,797 of federal funding per unit. This zip code holds 0.52% of North Carolina's total LIHTC funding, representing a small but significant portion of the state's affordable housing investment.
Affordable housing has been present in this zip code for over two decades. The first LIHTC projects, Londonderry and Londonderry Townhomes, were completed in 1990. The most recent project, Water Garden Park, was finished in 2013. The 2010s saw the most affordable housing development, with Water Garden Village and Water Garden Park being completed in 2012 and 2013 respectively.
The LIHTC funded projects in zip code 27613 offer a diverse range of unit types. Out of the 256 total units, 89 are one-bedroom, 132 are two-bedroom, and 35 are three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, zip code 27613 has experienced relatively stable population growth, increasing from 39,731 in 2010 to 42,388 in 2022. The median income has also risen significantly, from $109,550 in 2013 to $118,672 in 2022, indicating an overall increase in affluence in the area.
The racial composition of zip code 27613 has remained relatively consistent, with a slight increase in diversity. The white population decreased marginally from 77% in 2013 to 78% in 2022, while the Asian and Hispanic populations saw small increases. The black population decreased from 12% to 10% during this period.
Despite the rising median income, the presence of LIHTC projects suggests a continued need for affordable housing options in zip code 27613, possibly to maintain economic diversity in an increasingly affluent area.
Zip code 27613 in Raleigh, North Carolina, has a small but significant LIHTC funded affordable housing presence, covering about 1.58% of the estimated housing inventory. The area has seen consistent investment in affordable housing over the past three decades, with projects ranging from 1990 to 2013. Despite rising median incomes and a relatively affluent population, the continued presence of LIHTC projects indicates an ongoing commitment to providing diverse housing options in the area. The mix of unit types suggests an effort to accommodate various household sizes within the affordable housing inventory.