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Affordable Housing in Winton, NC: LIHTC's Impact on a Small Town's Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Winton, located in North Carolina, is a small community with a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 24 total units, all designated as low-income units. This inventory represents approximately 7% of the town's estimated 343 housing units, indicating a significant contribution to affordable housing needs, although it falls short of the typical 15-20% target for a well-balanced city.
The LIHTC program has provided $45,968 in project tax credits to Winton. With one project, this translates to an average federal funding of $45,968 per project and $1,915 per unit. Winton holds about 1% of the total state LIHTC funding, representing a small but notable share of North Carolina's affordable housing resources.
The sole LIHTC project in Winton, Sedgewood Apartments, was completed in 1997. This project has been providing affordable housing options to the community for over two decades. It consists of 24 units, including 8 one-bedroom and 16 two-bedroom apartments, offering a mix of housing options for different household sizes.
Demographic trends over the last decade show that Winton has experienced population fluctuations. The population peaked at 1,353 in 2013 and has since declined to 894 in 2022. Despite this decline, median income has shown an upward trend, increasing from $25,749 in 2013 to $44,686 in 2022. This rise in median income suggests a changing economic landscape in the town.
Racial demographics have also shifted over the past decade. The Black population has decreased from 67% in 2015 to 45% in 2022, while the White population has increased from 16% to 41% during the same period. The Hispanic population has remained relatively stable, fluctuating between 5% and 11% over the years.
In summary, Winton's LIHTC funded affordable housing, while modest in scale, plays a crucial role in providing low-income housing options to the community. The single project, Sedgewood Apartments, has been a longstanding fixture in the town's housing landscape since 1997. Despite population fluctuations and demographic shifts, the presence of these affordable units continues to contribute to the town's housing diversity. The rising median income and changing racial composition suggest evolving socioeconomic dynamics that may influence future affordable housing needs in Winton.
