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Affordable Housing in Waughtown: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Waughtown, a neighborhood in Winston-Salem, North Carolina, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 56 affordable units, all of which are designated as low-income units. Based on the estimated 1,091 housing units in the neighborhood, LIHTC funded affordable housing accounts for approximately 5.1% of the neighborhood's housing inventory.
The LIHTC program has provided $128,708 in project tax credits for affordable housing in Waughtown. This equates to an average federal funding of about $2,298 per unit. The neighborhood has two LIHTC funded projects: Vespers I and Vespers II, both completed in 2001. This indicates that affordable housing has been present in Waughtown for over two decades.
All 56 LIHTC funded units in Waughtown are one-bedroom apartments, suggesting a focus on housing for individuals or small households. The uniform unit type across both projects may indicate a specific housing need in the area at the time of development.
Over the past decade, Waughtown has experienced demographic shifts. The population has fluctuated, reaching a peak of 3,389 in 2021 before decreasing to 2,847 in 2022. Median income has shown an overall upward trend, rising from $27,334 in 2013 to $29,942 in 2022, with a notable increase to $35,709 in 2021.
Racial demographics have also changed. The Black population has remained the largest group, increasing from 40% in 2017 to 51% in 2022. The Hispanic population has maintained a significant presence, comprising 33% of the population in 2022. The White population has decreased from 17% in 2017 to 10% in 2022.
Despite these demographic changes, no new LIHTC projects have been developed in Waughtown since 2001. This could be due to various factors, including changes in local housing policies, funding priorities, or the availability of other affordable housing programs not captured in this data.
Waughtown's LIHTC funded affordable housing inventory, while modest in size, has been a stable presence in the neighborhood for over 20 years. The two projects, both completed in 2001, provide 56 one-bedroom units, contributing to about 5.1% of the estimated housing inventory. While demographic changes have occurred, including population fluctuations and shifts in racial composition, the LIHTC inventory has remained unchanged. The neighborhood has seen a general increase in median income over the past decade, which could potentially impact the demand for affordable housing. However, a comprehensive understanding of Waughtown's affordable housing landscape would require consideration of other housing assistance programs and local economic factors beyond the scope of this LIHTC-focused analysis.
