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Affordable Housing in Tabor City, NC: LIHTC Program Impact on Small Town Demographics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tabor City, a town in North Carolina, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that contributes to its housing needs. The town has 81 total affordable units, all of which are designated as low-income units. Based on the estimated 2,116 housing units in Tabor City, the LIHTC funded affordable housing covers approximately 3.8% of the city's housing inventory.
Tabor City has received $190,054 in project tax credits from the LIHTC program. With approximately 4 projects, this translates to an average federal funding of $47,513 per project and $2,347 per unit. The city holds 0.04% of North Carolina's total LIHTC funding.
The first LIHTC project in Tabor City, Tabor Villa Apts, was completed in 1987, while the most recent project with a known completion date, Evans Pointe II Apts, was finished in 2004. This indicates that affordable housing has been present in the city for at least 17 years. The early 2000s saw the most LIHTC activity, with two projects (Pireway Place and Evans Pointe II Apts) completed during this period.
The LIHTC funded housing in Tabor City consists primarily of one-bedroom and two-bedroom units. There are 47 one-bedroom units and 16 two-bedroom units, providing a mix of housing options for different household sizes.
Over the past decade, Tabor City's population has experienced fluctuations, peaking at 7,682 in 2014 and declining to 5,523 by 2022. Despite these changes, the median income has shown an overall upward trend, increasing from $27,598 in 2013 to $35,157 in 2022.
The racial composition of Tabor City has remained relatively stable, with a slight decrease in the white population from 58% in 2014 to 50% in 2022, and a small increase in the Black population from 36% to 38% during the same period. The Hispanic population has grown from 3% to 7% over the past decade.
While no new LIHTC projects have been recorded in the last decade, the demographic shifts, particularly the increase in median income, may suggest changing housing needs in the community.
Tabor City's LIHTC funded affordable housing inventory provides 81 low-income units, covering about 3.8% of the estimated housing stock. The town has benefited from four LIHTC projects over nearly two decades, with the most recent known project completed in 2004. The housing mix primarily consists of one and two-bedroom units, catering to various household sizes. Despite population fluctuations and increasing median income over the past decade, the racial composition has remained relatively stable with slight shifts. These demographic trends may influence future affordable housing needs and development in Tabor City.
