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Affordable Housing in Williamston, NC: LIHTC's Impact on a Declining Population
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Williamston, a town in North Carolina, has a population of 7,439 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has been instrumental in providing affordable housing in this community. Williamston's LIHTC-funded affordable housing inventory comprises 87 total units, with 86 designated as low-income units. This represents approximately 3% of the town's estimated housing stock of 2,850 units.
Williamston has received $439,960 in project tax credits through the LIHTC program. With three projects, this translates to an average federal funding of $146,653 per project and $5,057 per unit. Williamston holds 0.1% of North Carolina's total LIHTC funding allocation.
The town's LIHTC-funded affordable housing development spans nearly two decades, from 1999 to 2016. The 2000s saw the most activity in affordable housing development. The affordable housing inventory in Williamston offers a mix of unit sizes, including 13 one-bedroom units, 58 two-bedroom units, and 16 three-bedroom units, catering to different household sizes and needs within the low-income population.
Over the past decade, Williamston has experienced a population decline, decreasing from 8,350 in 2013 to 7,439 in 2022. The median income has shown some fluctuation, rising from $29,442 in 2013 to $35,908 in 2022. This modest increase in median income may indicate changing economic conditions in the town.
The racial composition of Williamston has remained relatively stable. The Black population decreased slightly from 52% in 2013 to 46% in 2022, while the Hispanic population increased from 1% to 9% during the same period. The White population has maintained a relatively constant proportion, around 42-46% throughout the decade.
The most recent LIHTC project, Roanoke Apartments, was completed in 2016, coinciding with a period of relative stability in the town's demographic makeup. This suggests that the affordable housing development was responding to ongoing needs in the community rather than dramatic demographic shifts.
Williamston's LIHTC-funded affordable housing inventory provides important housing options for low-income residents. The three projects developed over nearly two decades demonstrate a sustained commitment to affordable housing in the town. The mix of unit sizes reflects an effort to accommodate diverse household needs. While the town has experienced population decline and modest income growth, the continued presence of LIHTC projects indicates an ongoing need for affordable housing options in Williamston. The stable racial composition, with slight increases in diversity, suggests that these housing projects serve a relatively consistent demographic profile within the community.
