Loading Content...
Affordable Housing in Roanoke Rapids: Three Decades of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Roanoke Rapids, a city in North Carolina, maintains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 480 total units in LIHTC-funded projects, with 318 designated as low-income units. This represents approximately 6.3% of the city's estimated 7,594 housing units.
Roanoke Rapids has received $2,326,784 in project tax credits through the LIHTC program. With approximately 12 projects, this equates to an average of $193,899 in federal funding per project, or $4,847 per unit. The city's share of North Carolina's total LIHTC funding is 0.53%, indicating a substantial contribution to the state's affordable housing efforts.
The development of LIHTC-funded affordable housing in Roanoke Rapids spans three decades. The initial projects, Woodbury Apartments and Laurel Glen Apartments, were completed in 1989. The most recent additions, Colony Woods and Rooney Ridge, were completed in 2019. The 2010s saw the highest level of activity, with six projects completed during this period.
The LIHTC-funded housing stock in Roanoke Rapids comprises a variety of unit types. There are 193 one-bedroom units, 243 two-bedroom units, and 26 three-bedroom units. This distribution suggests an emphasis on accommodating small to medium-sized households.
Roanoke Rapids has experienced demographic changes over the past decade. The population has slightly declined from 20,284 in 2010 to 19,821 in 2022. The median income has shown an upward trend, increasing from $38,102 in 2013 to $39,700 in 2022, with fluctuations in between. Racial demographics have shifted, with the white population decreasing from 60% in 2013 to 51% in 2022, while the Black population has remained relatively stable at 35-36%. The Hispanic population has increased modestly from 3% to 6% during this period.
The construction of new LIHTC projects in 2019 coincides with these demographic shifts, potentially addressing the changing needs of the population, including the growing diversity and modest income growth. The LIHTC-funded affordable housing inventory in Roanoke Rapids represents a significant portion of the city's housing stock. The city has consistently invested in affordable housing over three decades, with the most recent projects completed in 2019. The distribution of unit types indicates an effort to accommodate various household sizes. These ongoing developments in affordable housing may be influenced by the observed demographic changes in the city.
