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Affordable Housing in Clayton, North Carolina: LIHTC Program Impact and Demographic Shifts
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, North Carolina, has experienced notable growth in recent years. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 104 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 15,207 units, LIHTC-funded affordable housing represents approximately 0.68% of the city's housing stock.
Clayton has received $496,538 in project tax credits through the LIHTC program. With two projects, this equates to an average federal funding of $248,269 per project and $4,774 per unit. The city holds 0.11% of the total state LIHTC funding, indicating a relatively small share of North Carolina's affordable housing initiatives.
The first LIHTC project in Clayton, Clayton Manor Apts, was completed in 1994, while the most recent, Lions Spring, was finished in 2009. This 15-year span demonstrates a sustained effort to provide affordable housing in the city. The 2000s saw the most activity in affordable housing development.
The LIHTC-funded housing stock in Clayton consists primarily of one-bedroom and two-bedroom units. Specifically, there are 40 one-bedroom units and 28 two-bedroom units. This distribution suggests a focus on smaller households or individuals.
Over the past decade, Clayton has experienced significant population growth, increasing from 29,850 in 2013 to 39,691 in 2022. The median income has also risen, from $74,281 in 2013 to $80,341 in 2022. Despite this growth, no new LIHTC projects have been completed since 2009.
Racial demographics have shifted slightly, with the white population decreasing from 66% in 2013 to 62% in 2022, while the Black and Hispanic populations have increased marginally. This diversification could potentially influence future affordable housing needs.
Clayton's LIHTC-funded affordable housing stock represents a small portion of the city's total housing inventory. The city has seen two LIHTC projects completed over a 15-year period, with no new developments in the last decade despite significant population growth. The focus has been on smaller units, primarily one and two-bedroom apartments. As the city continues to grow and diversify, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.
