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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hildebran, a town in North Carolina, had a population of 5,171 as of 2022. The town has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 60 affordable units, including 6 low-income units. Based on the estimated housing inventory of 1,981 units, the LIHTC funded affordable housing comprises approximately 3.03% of the town's housing stock.
The LIHTC program has allocated $625,350 in tax credits for affordable housing in Hildebran. This translates to an average federal funding of $625,350 per project and $10,422.50 per unit. Hildebran holds 0.14% of the total state funding for LIHTC projects in North Carolina.
The sole LIHTC funded project in Hildebran is Pond View, completed in 2019. This project marks the beginning of LIHTC funded affordable housing in the town. The project consists of 60 total units, including 9 one-bedroom units, 27 two-bedroom units, and 24 three-bedroom units.
Over the past decade, Hildebran has experienced population growth, increasing from 4,160 in 2019 to 5,171 in 2022. The median income has also risen significantly, from $49,129 in 2019 to $60,410 in 2022. This economic growth may have contributed to the need for affordable housing options, leading to the development of the Pond View project in 2019.
The racial composition of Hildebran has remained relatively stable, with a slight decrease in the white population from 90% in 2019 to 88% in 2022. There has been a small increase in Asian and Hispanic populations, both rising from 2% to 4% during the same period. This demographic shift, although minor, could indicate a growing diversity in the town's population and potentially diverse housing needs.
Hildebran's LIHTC funded affordable housing inventory, while modest, represents a recent effort to address affordable housing needs in the community. The single project, Pond View, completed in 2019, provides 60 units of affordable housing, including 6 low-income units. This development coincides with a period of population growth and increasing median income in the town. While the LIHTC funded housing covers a small percentage of the estimated housing stock, it marks a step in addressing affordable housing needs in Hildebran. The demographic trends suggest a growing and diversifying population, which may influence future affordable housing needs and development in the area.