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Affordable Housing in Dallas, NC: LIHTC's Impact on a Growing 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
Dallas, North Carolina, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 169 total units, with 168 designated as low-income units. Based on the estimated housing inventory of 4,635 units, LIHTC funded affordable housing represents approximately 3.6% of the city's housing stock.
Dallas has received $693,492 in project tax credits through the LIHTC program. With three approximate projects, this translates to an average federal funding of $231,164 per project and $4,103 per unit. The city holds 0.16% of North Carolina's total state LIHTC funding.
The first LIHTC project in Dallas, Oak Forest Apartments, was completed in 1992, while the most recent, Dallas High School Apts, was finished in 2003. This indicates over a decade of affordable housing presence in the city. The 1990s saw the most affordable housing development, with two projects completed during this decade.
The LIHTC inventory in Dallas consists of 67 one-bedroom units, 86 two-bedroom units, and 16 three-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, Dallas has experienced population growth, increasing from 10,263 in 2015 to 12,097 in 2022. The median income has fluctuated, rising from $44,351 in 2015 to $52,782 in 2018, before declining to $48,515 in 2022.
The racial composition of the city has also shifted. The white population decreased from 76% in 2015 to 55% in 2022, while the Black population increased from 16% to 25%, and the Hispanic population grew from 5% to 15% during the same period.
Despite these demographic changes, no new LIHTC projects have been recorded in the last decade. This could be due to various factors, including changes in funding priorities, local housing policies, or the presence of other affordable housing programs not captured in this data.
Dallas's LIHTC funded affordable housing represents a small but significant portion of its housing stock. The city has benefited from federal funding for affordable housing since the early 1990s, with a focus on one and two-bedroom units. While demographic shifts have occurred in recent years, including population growth and increased racial diversity, there has not been a corresponding increase in LIHTC projects. This analysis provides a snapshot of LIHTC's role in Dallas's affordable housing landscape, though it is important to note that other housing programs may also contribute to meeting the city's affordable housing needs.
