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Affordable Housing in Zip Code 27892: Analysis of LIHTC Funded Units in Williamston, NC
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 27892 in Williamston, North Carolina, contains 87 total units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 86 designated as low-income units. This inventory represents approximately 1.66% of the zip code's estimated 5,251 housing units, based on the 2022 population of 13,705.
The LIHTC projects in zip code 27892 have received $439,960 in project tax credits, averaging about $5,057 per unit in federal funding. This zip code accounts for 0.1% of the total state funding for LIHTC projects.
Affordable housing has been present in zip code 27892 for over two decades. The first LIHTC project, Santree Commons, was completed in 1999, and the most recent, Roanoke Apartments, was finished in 2016. The 2000s saw the most affordable housing development, with projects such as Andrews Park completed in 2009.
The LIHTC funded housing in zip code 27892 consists of 13 one-bedroom units, 58 two-bedroom units, and 16 three-bedroom units. This distribution indicates a focus on accommodating small to medium-sized families.
Zip code 27892 experienced a slight population decline from 14,618 in 2013 to 13,705 in 2022. Despite this decrease, the median income increased from $38,112 in 2013 to $44,354 in 2022. This rise in median income may suggest a reduced need for additional affordable housing in recent years.
The racial distribution in zip code 27892 has remained relatively stable, with a slight increase in diversity. The white population decreased from 56% in 2013 to 53% in 2022, while the Hispanic population grew from 1% to 6% during the same period. The black population has remained consistent at around 38%.
The LIHTC program has contributed to the affordable housing stock in zip code 27892 over the past two decades, providing 87 units that serve low-income residents. This represents a small percentage of the estimated housing inventory. The zip code has seen a slight population decline and an increase in median income over the past decade, which may influence future affordable housing needs. The racial composition has become slightly more diverse, with a notable increase in the Hispanic population.
