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Affordable Housing in Randleman: LIHTC Program's Impact on a North Carolina City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Randleman, North Carolina, has a population of 9,565 as of 2022. The city contains 130 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program, with 98 designated as low-income units. These LIHTC-funded units constitute approximately 3.5% of Randleman's estimated 3,665 total housing units.
Randleman has received $573,085 in LIHTC funding for affordable housing projects. This funding is distributed across three projects, averaging $191,028 per project. The average federal funding per unit is $4,408, based on the total of 130 units in LIHTC-funded projects.
The city's share of the total state LIHTC funding is 0.13%, indicating a relatively small portion of North Carolina's affordable housing investment. Affordable housing has been present in Randleman since 1988, with the most recent project completed in 2006. This 18-year span demonstrates a sustained effort to provide affordable housing in the city.
The 2000s saw the most affordable housing development, with two projects completed during this decade: Randleman School Commons in 2004 and Windsor Place At Randleman in 2006. The LIHTC-funded housing inventory in Randleman consists primarily of one-bedroom and two-bedroom units, with 48 one-bedroom units and 46 two-bedroom units, providing options for different household sizes.
Over the past decade, Randleman's population has remained relatively stable, with minor fluctuations. The median income has shown a gradual increase, rising from $42,305 in 2013 to $48,613 in 2022. This trend suggests a slowly improving economic situation for residents.
Racial demographics have experienced some shifts, with the white population decreasing slightly from 86% in 2013 to 81% in 2022. The Hispanic population has grown from 4% to 10% during this period, indicating increasing diversity in the city. Despite these demographic changes, no new LIHTC projects have been developed in the last decade.
Randleman's LIHTC-funded affordable housing represents a small but significant portion of its housing inventory. The city has benefited from three LIHTC projects over an 18-year period, providing 130 affordable units. The demographic trends show a slowly growing median income and increasing diversity, which may influence future affordable housing needs in the city.
