Loading Content...
Affordable Housing Analysis in Zip Code 28124: Mount Pleasant's LIHTC-Funded Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 28124, located in Mount Pleasant, North Carolina, has a population of 7,047 as of 2022. This zip code contains 64 LIHTC-funded affordable housing units, all of which are designated as low-income units. These units represent approximately 2.37% of the estimated 2,700 housing units in the zip code.
The LIHTC program has invested $462,585 in tax credits for affordable housing projects in zip code 28124. This investment amounts to an average federal funding of $7,228 per unit and constitutes 0.11% of North Carolina's total LIHTC funding. The affordable housing in this zip code is comprised of a single project, Barringer's Trace, completed in 2016.
Barringer's Trace offers a mix of unit types, including 9 one-bedroom units, 37 two-bedroom units, and 18 three-bedroom units. This distribution caters to various household sizes within the affordable housing framework.
Demographic shifts in zip code 28124 have occurred over the past decade, potentially correlating with the introduction of LIHTC-funded housing. The population has increased from 6,534 in 2010 to 7,047 in 2022. Median income has risen from $55,306 in 2013 to $68,115 in 2022, indicating overall economic growth in the area.
Racial demographics in zip code 28124 have slightly diversified. The white population decreased from 94% in 2013 to 84% in 2022, while Asian, Black, and Hispanic populations experienced modest increases. This gradual diversification coincides with the introduction of affordable housing options in the area.
Zip code 28124 in Mount Pleasant, North Carolina, has a focused LIHTC-funded affordable housing presence. The 64 low-income units contribute to the area's housing diversity. Barringer's Trace, completed in 2016, represents a significant step in addressing affordable housing needs in the community. While LIHTC-funded units comprise a small percentage of the estimated housing stock, they play an important role in providing affordable options in a growing and economically developing area. The demographic trends over the past decade suggest a changing community landscape that may benefit from continued attention to affordable housing needs.
