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Affordable Housing in West Raleigh: LIHTC Impact and Neighborhood Dynamics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
West Raleigh, a neighborhood in Raleigh, North Carolina, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 163 total units in LIHTC funded projects, with 118 designated as low-income units. Based on the 2022 population of 44,402 and an estimated 17,012 housing units, LIHTC funded affordable housing comprises approximately 0.96% of the neighborhood's estimated housing inventory.
The LIHTC program has invested in West Raleigh, with project tax credits totaling $882,567. This equates to an average federal funding of $5,415 per unit in LIHTC funded projects. The neighborhood's affordable housing history spans nearly a decade, with the earliest LIHTC projects dating to 1994 and the most recent completed in 2003.
The 1990s saw substantial affordable housing development in West Raleigh. Notable projects from this period include units on Carolina Avenue completed in 1994 and 1995, and a development on Kaplan Drive in 1996. Other significant projects include Westridge Woods Apartments (1997), Meadow Spring Apartments (1999), and Chestnut Hills (2003). The LIHTC funded housing offers a mix of unit sizes, with 31 one-bedroom, 85 two-bedroom, and 47 three-bedroom units, catering to various household sizes and needs within the low-income community.
West Raleigh's population has fluctuated over the past decade, peaking in 2018 at 47,155 before declining to 44,402 in 2022. Despite this recent population decrease, the median income has generally increased, rising from $48,058 in 2013 to $62,641 in 2022. This increase in median income may partially explain the lack of new LIHTC projects in recent years.
The racial composition of West Raleigh has remained relatively stable over the past decade. The white population has consistently represented the majority, accounting for 56% of residents in 2022. The Black population has slightly decreased from 20% in 2013 to 19% in 2022, while the Asian population has seen a small increase from 7% to 8% over the same period. The Hispanic population has decreased from 16% to 12% during this time.
West Raleigh's LIHTC funded affordable housing inventory, while modest compared to the overall housing stock, represents a significant investment in the community. The concentration of development in the 1990s and early 2000s established a foundation of affordable housing in the area. The diverse range of unit sizes in these projects suggests an effort to accommodate various household compositions within the low-income population. The stable racial composition and recent population trends provide context for understanding the affordable housing landscape in West Raleigh.
