Loading Content...
Affordable Housing Analysis in Zip Code 27810: LIHTC Impact on Belhaven, North Carolina
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27810 in Belhaven, North Carolina, contains 90 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. The estimated housing inventory in this zip code is approximately 1,434 units, based on the 2022 population of 3,744 and using the national average household size. LIHTC-funded affordable housing represents about 6.3% of the estimated housing inventory in zip code 27810.
The LIHTC projects in zip code 27810 have received $302,322 in tax credits, averaging $3,359 per unit. This funding constitutes 0.07% of the total LIHTC credits allocated in North Carolina. The affordable housing presence in this zip code extends over a decade, with the earliest project, Pungo Village, completed in 1991, and the most recent, Rio Del Mar, in 2004.
The 1990s experienced the highest number of LIHTC project completions in this zip code. The housing inventory comprises various unit types, including 38 one-bedroom, 32 two-bedroom, 16 three-bedroom, and 4 four-bedroom units. There are no efficiency units in the LIHTC-funded projects in zip code 27810.
Zip code 27810 has experienced a population decline over the past decade, decreasing from 4,215 in 2015 to 3,744 in 2022. Despite this decrease, the median income has shown an overall upward trend, increasing from $35,654 in 2015 to $47,205 in 2022. The racial composition has remained relatively stable, with a slight increase in the Hispanic population from 2% in 2015 to 11% in 2022, while the White population has increased from 54% to 62% during the same period.
The LIHTC program has contributed to the affordable housing stock in zip code 27810, providing 90 low-income units across three projects. These units represent a small portion of the estimated housing inventory but play a significant role in addressing affordable housing needs. The absence of new LIHTC projects in recent years, combined with the population decline and increasing median income, indicates changing dynamics in the area's housing needs. The persistent income disparities and demographic shifts highlight the ongoing importance of affordable housing initiatives in zip code 27810.
