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Affordable Housing in Zip Code 27571: LIHTC Funded Inventory in Rolesville, North Carolina
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 27571, located in Rolesville, North Carolina, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 146 units. All of these units are designated as low-income units. Based on the 2022 population of 5,771 and an estimated 2,211 housing units in the zip code, the LIHTC funded affordable housing represents approximately 6.6% of the estimated housing inventory.
The LIHTC program has invested $1,376,589 in project tax credits in this zip code. This equates to an average federal funding of $9,429 per unit. Zip code 27571 accounts for 0.32% of the total LIHTC funding allocated to North Carolina.
The affordable housing in this zip code was developed between 2014 and 2016, with two projects: Granite Falls Apartments, completed in 2014, and The Grande At Granite Falls, completed in 2016. This indicates a concentrated period of affordable housing development in the mid-2010s.
The inventory includes 1 efficiency unit, 26 one-bedroom units, 95 two-bedroom units, and 24 three-bedroom units. This distribution accommodates various household sizes, with an emphasis on two-bedroom units.
Zip code 27571 experienced significant population growth from 2,344 in 2010 to 5,771 in 2022. This growth coincided with the development of LIHTC projects in the mid-2010s, suggesting a response to increasing housing needs. Median income in the area increased from $100,329 in 2013 to $119,973 in 2022. Despite this increase, the presence of LIHTC projects indicates a continued need for affordable housing options.
Racial demographics in the zip code shifted from 2013 to 2022. The white population decreased from 74% to 61%, while the Black population increased from 16% to 27%. This diversification may reflect changing housing needs and preferences in the community.
The 27571 zip code area has received significant investment in LIHTC funded affordable housing, particularly in the mid-2010s. With 146 low-income units representing about 6.6% of the estimated housing inventory, these projects address affordable housing needs. The area's rapid population growth, increasing median income, and changing racial demographics underscore the importance of maintaining and potentially expanding affordable housing options to ensure a diverse and inclusive community.
