Belmont, North Carolina, a city with a textile manufacturing heritage, has 202 total housing units funded by the Low-Income Housing Tax Credit (LIHTC), of which 85 are designated as low-income units. This LIHTC-funded affordable housing represents approximately 2.4% of the city's estimated 8,248 housing units. Belmont has received $1,428,617 in LIHTC funding, distributed across three projects, averaging $476,206 per project and $7,072 per unit. The city's allocation accounts for 0.33% of North Carolina's total LIHTC funding.

The development of LIHTC-funded affordable housing in Belmont spans 12 years, from 2002 to 2014. The first project, Perfection Park Senior Apts, was completed in 2002, while the most recent, Loftin At Montcross Senior, was finished in 2014. The 2000s witnessed the highest activity in affordable housing construction, with two projects completed during this period. The LIHTC-funded housing inventory in Belmont comprises 100 one-bedroom units, 78 two-bedroom units, and 24 three-bedroom units, indicating a focus on smaller households and potentially senior housing.

Belmont's population has grown significantly, increasing from 16,836 in 2013 to 21,528 in 2022, representing a 27.9% growth rate. This population increase suggests a potential rise in housing demand, including affordable options. Concurrently, the median income in Belmont has risen from $69,652 in 2013 to $82,371 in 2022, an 18.3% increase. While this income growth might reduce the number of households eligible for affordable housing, it is important to note that income growth may not be evenly distributed across all population segments.