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Affordable Housing in Bryson City: LIHTC's Impact on a Small North Carolina Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bryson City, North Carolina, a town with 6,467 residents as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, The Charleston Apartments, provides 32 low-income units, representing approximately 1.29% of the city's estimated 2,478 housing units. The LIHTC program has allocated $59,816 in tax credits for affordable housing in Bryson City, which equates to $59,816 per project and $1,869 per unit. Bryson City's share of the total state LIHTC funding for North Carolina is 0.01%.
The Charleston Apartments, completed in 2012, marks both the beginning and current extent of LIHTC-funded affordable housing in Bryson City. The project consists of 32 one-bedroom units, all designated as low-income units. This development has been present in the community for a decade.
Bryson City's population has experienced fluctuations over the past decade, showing a slight overall increase from 6,216 in 2014 to 6,467 in 2022. The median income has also varied significantly, rising from $33,525 in 2014 to $41,910 in 2022, with fluctuations occurring in between these years.
The racial composition of Bryson City has gradually diversified over the last decade. The white population, while still the majority, has decreased from 83% in 2014 to 74% in 2022. Concurrently, there has been a notable increase in the Native American population, which has risen from 4% to 11% during this period. The Hispanic population has also grown from 2% to 8%.
The completion of The Charleston Apartments in 2012 coincides with a period when the city's population was slightly higher than its current level, potentially indicating a response to housing needs at that time. The subsequent demographic shifts, including increased diversity and fluctuating median income, suggest an evolving community that may have changing affordable housing needs.
Bryson City's LIHTC-funded affordable housing inventory consists solely of The Charleston Apartments, providing 32 one-bedroom units for low-income residents. While this project covers a small percentage of the city's estimated housing stock, it represents a significant investment in affordable housing for the community. The demographic trends over the past decade, including population fluctuations, income variability, and increased racial diversity, underscore the importance of continually assessing and addressing affordable housing needs in Bryson City.
