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Affordable Housing Analysis: Zip Code 27705 in Durham, North Carolina
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 27705 in Durham, North Carolina, contains 328 LIHTC-funded affordable housing units, all of which are designated as low-income units. Based on the 2022 population of 47,430 and the national average household size, the estimated housing inventory is 18,172 units. LIHTC-funded affordable housing represents approximately 1.8% of the total housing stock in this zip code.
The LIHTC program has provided $4,455 in tax credits for affordable housing projects in zip code 27705. This amounts to an average federal funding of $13.58 per unit. The Iredell St Duplex project received all of the tax credits for its 2 units, significantly influencing this average.
Three notable LIHTC-funded projects exist in this zip code: Iredell St Duplex, Morreene Road Apartments, and Damar Court. Iredell St Duplex, completed in 1988, is the earliest known LIHTC project in the area, indicating at least 35 years of affordable housing presence in zip code 27705.
The unit distribution in these projects includes 24 efficiencies, 168 one-bedroom units, and 136 two-bedroom units. This mix suggests a focus on housing for smaller households or individuals. Morreene Road Apartments, the largest project, contributes 224 units, including all efficiency units and most one-bedroom units.
The population in zip code 27705 has grown steadily, increasing from 44,170 in 2013 to 47,430 in 2022. The median income rose from $57,323 in 2013 to $70,685 in 2022, a 23.3% increase.
Racial demographics in zip code 27705 have remained relatively stable with a slight increase in diversity. The white population decreased from 56% in 2013 to 55% in 2022, while the Asian population increased from 6% to 8%. The Black population remained at approximately 19%, and the Hispanic population stayed consistent at about 13%.
Zip code 27705 in Durham, North Carolina, has a modest LIHTC-funded affordable housing inventory, comprising about 1.8% of the estimated total housing stock. The area has experienced consistent population growth and a significant increase in median income over the past decade. Racial demographics have remained relatively stable, with a slight increase in diversity. LIHTC projects in this area, particularly larger developments like Morreene Road Apartments, provide affordable housing options, primarily for smaller households. The presence of LIHTC-funded housing since at least 1988 indicates an ongoing commitment to affordable housing in this community.
