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Affordable Housing in Garner, NC: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Garner, a town in North Carolina, has a population of 61,193 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 434 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 23,446 units, the LIHTC-funded affordable housing covers approximately 1.85% of the city's housing stock.
Garner has received $2,371,619 in project tax credits from the LIHTC program. With approximately 9 projects, this translates to an average of $263,513 in federal funding per project. The average federal funding per unit is $5,465, considering the 434 total units in LIHTC-funded projects. Garner holds 0.54% of the total state LIHTC funding, indicating a relatively small share of North Carolina's affordable housing resources.
The first LIHTC project in Garner, Sandlin Branch Townhomes, was completed in 1987, while the most recent project, Pennington Grove II, was finished in 2021. This demonstrates a 34-year span of affordable housing development in the city. The 1990s saw the most affordable housing projects completed, including Avery Square (1995), Weston Trace (1997), and Olde School Commons Apts (1998). The 2010s also saw significant development with projects like Timber Spring (2014) and Pennington Grove (2017).
Regarding unit types, the LIHTC-funded projects in Garner include 180 one-bedroom units, 87 two-bedroom units, and 14 three-bedroom units. This distribution suggests a focus on smaller households and families.
Over the past decade, Garner's population has grown steadily, increasing from 53,235 in 2013 to 61,193 in 2022. The median income has also risen, from $67,682 in 2013 to $71,877 in 2022. This economic growth may have influenced the need for affordable housing options.
The racial composition of Garner has remained relatively stable, with a slight decrease in the Black population (from 32% in 2013 to 28% in 2022) and a small increase in the Hispanic population (from 12% in 2013 to 14% in 2022). The White population has maintained a slight majority, increasing from 52% in 2013 to 52% in 2022.
Garner's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The town has consistently developed affordable housing projects over the past three decades, with a focus on smaller unit sizes. While the city's population and median income have grown, the racial composition has remained relatively stable. The LIHTC program has played a role in addressing affordable housing needs in Garner, though it represents only a fraction of the state's overall LIHTC funding.
