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Affordable Housing in Zip Code 27301: LIHTC Impact on McLeansville
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27301, encompassing McLeansville in North Carolina, features a notable presence of affordable housing supported by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 72 total units in LIHTC-funded projects, with 27 designated as low-income units. LIHTC-funded affordable housing comprises approximately 1.83% of the estimated 3,932 housing units in the zip code.
The LIHTC projects in zip code 27301 have received $445,244 in tax credits, averaging about $6,184 per unit. This funding represents 0.1% of North Carolina's total LIHTC allocation, indicating a modest investment in affordable housing for the area. The affordable housing presence in this zip code spans several decades, with the earliest recorded LIHTC project, "407 + 409 Sykes Ave," completed in 1991.
The LIHTC-funded housing in zip code 27301 offers a range of unit sizes. The inventory includes 4 one-bedroom units, 22 two-bedroom units, 15 three-bedroom units, and 19 four-bedroom units, accommodating various family sizes and needs.
Over the past decade, the population in zip code 27301 has grown, increasing from 8,769 in 2015 to 10,262 in 2022. This 17% population increase suggests a growing demand for housing in the area. Median income in the zip code has fluctuated but generally trended upward, rising from $60,529 in 2015 to $63,988 in 2022. This modest income growth may indicate a continued need for affordable housing options.
Racial demographics have remained relatively stable, with the white population consistently representing the majority at around 60% of the total. The Black population has slightly increased from 30% to 34% between 2015 and 2022, while the Hispanic population has remained steady at around 6-7%. This demographic stability suggests that the existing LIHTC projects continue to serve a diverse community.
The LIHTC program has played a significant role in providing affordable housing in zip code 27301, contributing 72 units to the area's housing stock. The diversity of unit sizes in LIHTC projects caters to various household compositions. The steady population growth and modest income increases over the past decade suggest an ongoing need for affordable housing options in this community. The long-standing presence of LIHTC projects, dating back to the early 1990s, demonstrates a sustained commitment to affordable housing in this North Carolina zip code.
