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Affordable Housing Analysis in Zip Code 27910: A Three-Decade LIHTC Investment
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 27910, located in Ahoskie, North Carolina, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 149 total affordable units, all of which are designated as low-income units. Based on the estimated 4,055 housing units in the zip code, LIHTC funded affordable housing covers approximately 3.7% of the total housing inventory.
The LIHTC program has invested $932,011 in project tax credits for affordable housing in this zip code. This translates to an average federal funding of about $6,255 per unit. Notably, this zip code accounts for 0.21% of the total LIHTC funding allocated to North Carolina.
Affordable housing has been a part of this community for over three decades. The first LIHTC project, Academy Hill, was completed in 1991, while the most recent addition, Cypress Court, was built in 2016. The 1990s saw the completion of two projects, Academy Hill and Pine Gate Apartments, making it the decade with the most affordable housing development activity.
The LIHTC funded housing stock in this zip code consists of 57 one-bedroom units, 70 two-bedroom units, and 22 three-bedroom units. This diverse mix caters to various household sizes and needs within the community.
Over the past decade, the population in this zip code has shown a declining trend, decreasing from 11,688 in 2014 to 10,583 in 2022. Despite this population decrease, the median income has increased from $31,306 in 2014 to $40,901 in 2022, indicating potential economic improvements in the area.
The racial composition of the zip code has remained relatively stable, with the Black population consistently representing the majority at around 60% of the total population. The White population has slightly decreased from 35% in 2014 to 30% in 2022, while there has been a small increase in the Hispanic population and those identifying as two or more races.
The LIHTC program has played a crucial role in providing affordable housing options in zip code 27910. With 149 low-income units across four projects built over three decades, it has contributed to addressing housing needs in the area. While the population has declined slightly, rising median incomes suggest potential economic growth. The stable racial composition indicates a consistent demographic profile over time. These factors, combined with the LIHTC investments, demonstrate ongoing efforts to maintain affordable housing options in this community.
