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Affordable Housing in Clayton Acres: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Clayton Acres, a neighborhood in Winston-Salem, North Carolina, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood features 96 total affordable units, all designated as low-income units. Based on the 2022 population of 565 and using the national average household size, the estimated housing inventory is approximately 217 units. The LIHTC funded affordable housing covers about 44.2% of the neighborhood's estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC program has invested $767,200 in tax credits for affordable housing projects in Clayton Acres. This translates to an average federal funding of $7,992 per unit. The neighborhood's LIHTC funded affordable housing is represented by a single project, Abbington Gardens Of Winston-Salem, which was completed in 2016. This project marks the beginning of LIHTC's presence in the neighborhood.
Abbington Gardens Of Winston-Salem offers a range of unit sizes to accommodate various household needs. The project includes 36 two-bedroom units, 48 three-bedroom units, and 12 four-bedroom units. This distribution suggests a focus on providing housing for families of different sizes within the community.
Over the past decade, Clayton Acres has experienced demographic shifts. The population has remained relatively stable, with fluctuations between 449 and 587 residents. However, the median income has shown a declining trend, dropping from $40,814 in 2013 to $40,248 in 2022, with fluctuations in between.
The racial composition of the neighborhood has changed notably. The Black population has increased from 31% in 2013 to 59% in 2022, while the White population has decreased from 50% to 27% during the same period. The Hispanic population has fluctuated, starting at 19% in 2013, peaking at 18% in 2017, and settling at 13% in 2022.
The completion of the Abbington Gardens Of Winston-Salem project in 2016 coincides with a period of demographic change in the neighborhood. The declining median income and increasing diversity may have influenced the decision to develop affordable housing in the area.
Clayton Acres demonstrates a significant commitment to affordable housing through its LIHTC funded project. The Abbington Gardens Of Winston-Salem development, completed in 2016, provides 96 low-income units, covering a substantial portion of the neighborhood's estimated housing inventory. The project offers a mix of unit sizes, catering to various household compositions. The neighborhood has experienced demographic changes over the past decade, including a decline in median income and shifts in racial composition, which may have influenced the development of affordable housing. The LIHTC investment in Clayton Acres represents an important contribution to meeting the community's housing needs.
