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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 27510 in Carrboro, North Carolina, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 208 low-income units across several projects, all designated as affordable housing. The LIHTC-funded affordable housing comprises approximately 4.26% of the total housing stock, based on an estimated 4,881 housing units in the zip code.
The LIHTC program has invested $843,971 in tax credits for affordable housing projects in this zip code. This investment equates to an average federal funding of about $4,057 per unit. Zip code 27510 accounts for 0.19% of the total LIHTC funding allocated to North Carolina.
Affordable housing has been a consistent feature in this area, with projects spanning from 1987 to 2010. The earliest project, "105 Lindsay St," was completed in 1987, while the most recent, "The Landings At Winmore," was finished in 2010. This 23-year span demonstrates a sustained commitment to affordable housing in the zip code. The 2000s experienced the most activity, with two projects completed during this decade.
The LIHTC-funded housing inventory in this zip code offers a range of unit types. Out of the 208 total units, there are 24 efficiencies, 75 one-bedroom units, and 91 two-bedroom units. This mix accommodates various household sizes and needs within the low-income population.
Over the past decade, zip code 27510 has experienced demographic shifts. The population peaked at 13,682 in 2018 but declined to 12,740 in 2022. Despite this population decrease, the median income has increased, rising from $56,118 in 2019 to $62,930 in 2022.
Racial demographics have also changed. The white population has remained relatively stable, comprising about 64% of the population in 2022. The Black population increased from 13% in 2019 to 17% in 2022, while the Asian population fluctuated between 5-9% during this period. The Hispanic population has remained relatively constant at around 7-8% in recent years.
These demographic changes, particularly the rising median income, may influence the ongoing need for affordable housing in the area. However, the persistent income disparities across different racial groups suggest that affordable housing remains an important resource for maintaining diversity and equity in the community.
Zip code 27510 demonstrates a long-term commitment to affordable housing through its LIHTC-funded projects. While these units represent a small portion of the overall housing stock, they provide essential housing options for low-income residents. The diverse unit types cater to various household sizes, reflecting an effort to meet different community needs. Despite recent population declines, rising median incomes, and shifting racial demographics, the continued presence of LIHTC projects suggests an ongoing recognition of the importance of affordable housing in this area. As the community evolves, monitoring these trends will be crucial for assessing future affordable housing needs and ensuring equitable access to housing for all residents.