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Affordable Housing in Manteo: LIHTC's Impact on a Coastal North Carolina 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
Manteo, a town in North Carolina with a population of 5,124 in 2022, has one Low-Income Housing Tax Credit (LIHTC) funded project providing 46 affordable housing units. All of these units are designated as low-income. The LIHTC-funded affordable housing represents approximately 2.3% of the town's estimated housing inventory of 1,963 units.
The Harbourtowne Apartments, completed in 2011, is the only LIHTC project in Manteo. This development received $232,607 in tax credits, averaging $5,057 per unit. Manteo's LIHTC funding accounts for 0.05% of North Carolina's total LIHTC allocation. The apartments offer a mix of unit sizes: 12 one-bedroom, 27 two-bedroom, and 7 three-bedroom units.
Manteo's population has increased from 4,508 in 2015 to 5,124 in 2022. The median income has risen from $44,795 in 2015 to $51,525 in 2022. This income growth may affect the demand for affordable housing in the community.
Racial demographics in Manteo have remained relatively stable. The white population consistently represents the majority. There has been a slight increase in diversity, with the Hispanic population growing from 11% in 2015 to 15% in 2022. The Black population has fluctuated between 14% and 17% during this period.
Manteo's LIHTC-funded affordable housing, while limited to one project, provides an important resource for low-income residents. The Harbourtowne Apartments offer a range of unit sizes to accommodate different household needs. As the town's population and median income have grown over the past decade, continued monitoring of affordable housing needs may be necessary to ensure adequate support for the community's changing demographics.
