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Affordable Housing in Washington, NC: Two Decades of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Washington, North Carolina, has a total of 241 affordable housing units, with 214 designated as low-income units, funded through the Low-Income Housing Tax Credit (LIHTC) program. This inventory represents approximately 4% of the city's estimated 6,043 housing units, based on the 2022 population of 15,771. The city has received $1,780,779 in project tax credits through the LIHTC program, distributed across approximately 6 projects. This translates to an average of $296,797 in federal funding per project, or $7,389 per unit. Washington's share of North Carolina's total LIHTC funding is 0.41%.
The development of LIHTC-funded affordable housing in Washington spans nearly two decades, from 1993 to 2012. The first project, Waterford Place Apartments, was completed in 1993, while the most recent, Alderbrook Pointe, was finished in 2012. The 2000s saw the most activity, with four projects completed during this decade: Clifton Park and Bayleaf Plantation in 2006, Glenview Apartments in 2008, and Alderbrook Pointe in 2012.
The affordable housing inventory in Washington includes a range of unit types: 84 one-bedroom, 109 two-bedroom, 46 three-bedroom, and 2 four-bedroom units. This distribution indicates an effort to accommodate various family sizes and needs within the affordable housing stock.
Washington's population has remained relatively stable over the past decade, fluctuating between 15,700 and 16,500 residents. The median income has shown an overall upward trend, increasing from $37,957 in 2013 to $47,483 in 2022, potentially indicating improving economic conditions for some residents. Racial demographics have shifted slightly, with the white population decreasing from 58% in 2013 to 51% in 2022, while the Hispanic population has grown from 4% to 10% during the same period. The Black population has remained relatively stable, comprising about one-third of the city's residents throughout the decade.
These demographic changes, particularly the increase in median income and the growing diversity, may influence the ongoing need for affordable housing in Washington. The absence of new LIHTC projects since 2012 could be attributed to various factors, including changes in local housing policies, economic conditions, or shifts in funding priorities.
Washington's LIHTC-funded affordable housing inventory, while modest in size, provides an important resource for low-income residents. The 241 affordable units, developed over nearly two decades, represent a small but significant portion of the overall housing stock. The diverse unit types cater to different household sizes, reflecting an attempt to meet varied housing needs. As the city's demographics continue to change and median income increases, ongoing assessment of affordable housing needs will be crucial for future planning and development efforts.
