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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Norlina, a town in North Carolina, possesses a small LIHTC-funded affordable housing inventory. The town has 60 total units in LIHTC-funded projects, with 6 designated as low-income units. Based on the estimated 901 housing units in Norlina, the LIHTC-funded affordable housing comprises approximately 6.7% of the town's estimated housing inventory.
Norlina has received $127,470 in project tax credits through the LIHTC program. With two approximate projects, this averages to $63,735 in federal funding per project. The average federal funding per unit is $2,124.50. Norlina holds 0.03% of North Carolina's total LIHTC funding.
The first LIHTC project in Norlina, Rosewood Village, was completed in 1993, while the most recent project, Warren Place, was finished in 2019. This indicates that affordable housing has been present in the town for at least 26 years. The 2010s saw the most recent affordable housing development in Norlina.
The LIHTC-funded housing in Norlina consists primarily of one-bedroom and two-bedroom units. There are 45 one-bedroom units and 15 two-bedroom units across the projects. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, Norlina's population has fluctuated but generally trended downward, from 3,098 in 2014 to 2,351 in 2022. Despite this population decline, the town saw the completion of Warren Place in 2019, adding 20 units to its affordable housing stock.
Median income in Norlina has shown an overall increase, rising from $27,412 in 2013 to $32,486 in 2022, with some fluctuations in between. This gradual income growth may have influenced the need for additional affordable housing options, as reflected in the 2019 project.
Racial demographics in Norlina have remained relatively stable over the past decade, with the Black population consistently representing the largest racial group, followed by the White population. The proportion of Black residents increased slightly from 48% in 2019 to 58% in 2022, while the White population decreased from 49% to 39% during the same period.
Norlina's LIHTC-funded affordable housing inventory represents a small but significant portion of its estimated housing stock. The town has seen sporadic development of affordable housing over nearly three decades, with the most recent project completed in 2019. Despite a declining population, Norlina has maintained investment in affordable housing, possibly in response to gradually increasing median incomes. The housing units are primarily one and two-bedroom apartments, catering to smaller households. While the LIHTC projects contribute to the town's affordable housing needs, additional programs or initiatives may be necessary to fully address the housing requirements of Norlina's low-income residents.