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Affordable Housing in Salisbury, North Carolina: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Salisbury, North Carolina, has a significant affordable housing presence through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 806 total units, with 356 designated as low-income units. Based on the 2022 population of 49,750 and an estimated housing inventory of 19,061 units, LIHTC-funded affordable housing represents approximately 4.2% of the city's estimated housing stock.
Salisbury has received $6,667,912 in project tax credits for affordable housing through the LIHTC program. With 15 approximate projects, this equates to an average federal funding of $444,527 per project and $8,272 per unit. The city holds 1.53% of North Carolina's total state LIHTC funding, indicating a substantial contribution to the state's affordable housing efforts.
Affordable housing development in Salisbury spans over three decades, with the first LIHTC project, Shaver St Apts, completed in 1988, and the most recent, Britton Village, finished in 2020. The 2010s saw the most activity in affordable housing construction, with notable projects including The Villas At Hope Crest, Sterling Trace, and Colonial Village Apartments all completed in 2014.
The LIHTC-funded housing in Salisbury offers a range of unit types, including 4 efficiencies, 197 one-bedroom, 359 two-bedroom, 207 three-bedroom, and 20 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Salisbury's population has remained relatively stable over the past decade, increasing slightly from 48,594 in 2010 to 49,750 in 2022. The median income has shown a positive trend, rising from $41,798 in 2013 to $53,679 in 2022, indicating an overall improvement in economic conditions.
The racial distribution in Salisbury has remained largely consistent, with the white population at 56% and the black population at 29% in 2022. The Hispanic population has increased slightly from 10% in 2013 to 11% in 2022. Despite these demographic shifts, the city has continued to invest in affordable housing, with projects like Gold Hill Apartments (2018) and Britton Village (2020) completed in recent years.
Salisbury's LIHTC-funded affordable housing inventory represents a significant investment in addressing the housing needs of its low-income residents. With 806 total units and 356 low-income units, the program covers about 4.2% of the city's estimated housing stock. The city has consistently developed affordable housing projects over three decades, with a particular focus in the 2010s. The diverse range of unit types suggests an effort to accommodate various household sizes and needs. While demographic trends show a stable population and increasing median income, the continued development of LIHTC projects indicates an ongoing commitment to maintaining and expanding affordable housing options in Salisbury.
