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Affordable Housing in Jonesville: LIHTC Project's Impact on a Declining Population
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jonesville, a town in North Carolina, demonstrates a unique affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The town contains 36 affordable housing units, all categorized as low-income units. These LIHTC-funded units constitute approximately 1.68% of the city's estimated 2,141 housing units.
Jonesville has received $84,146 in project tax credits for affordable housing through the LIHTC program. This funding supports one project, resulting in an average federal funding of $84,146 per project and $2,337 per unit. The town's LIHTC funding represents 0.02% of North Carolina's total state funding for such projects.
The sole LIHTC-funded affordable housing project in Jonesville is Briarwood Apartments, completed in 2000. This project has provided affordable housing options for over two decades. Briarwood Apartments consists of 36 units, comprising 34 one-bedroom units and 2 two-bedroom units, indicating a focus on smaller household sizes in the affordable housing inventory.
Jonesville's population has gradually declined from 6,460 in 2015 to 5,587 in 2022. Despite this decrease, the median income has shown an overall upward trend, increasing from $31,721 in 2015 to $43,854 in 2022. This rise in median income may indicate a changing economic landscape in the town.
Racial demographics in Jonesville have remained relatively stable. The white population consistently represents the majority, comprising around 80-85% of the total population. A slight increase in the Black population has occurred, from 4% in 2015 to 9% in 2022, suggesting a gradual diversification of the community.
The absence of new LIHTC projects in the past decade may be attributed to the declining population and increasing median income, potentially reducing the perceived need for additional low-income housing units.
Jonesville's affordable housing landscape is characterized by a single LIHTC-funded project, Briarwood Apartments, which has served the community since 2000. While the 36 low-income units represent a small portion of the estimated housing inventory, they provide an important resource for lower-income residents. The town's demographic trends, including a declining population and rising median income, may have influenced the lack of new LIHTC projects in recent years. Ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents as the community continues to evolve.
