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Affordable Housing in Zip Code 28327: Analysis of LIHTC-Funded Inventory in Carthage, 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
The zip code 28327, which includes Carthage in North Carolina, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 61 total affordable housing units, with 43 designated as low-income units. Based on the 2022 population of 21,741 and an estimated 8,330 housing units, LIHTC-funded affordable housing comprises approximately 0.73% of the zip code's estimated housing inventory.
The LIHTC program has invested $261,904 in tax credits for affordable housing projects in zip code 28327. This equates to an average federal funding of $4,294 per unit. This zip code accounts for 0.06% of North Carolina's total LIHTC funding allocation.
Affordable housing has been present in zip code 28327 since 1995, when Hunters Glen Apartments was completed. The most recent project, Jackson Terrace II, was completed in 2000, indicating a five-year span of LIHTC-funded development activity. The 1990s saw the most affordable housing projects completed in this area.
The inventory includes various unit types, with a majority of one-bedroom units (44), followed by two-bedroom (11) and three-bedroom (6) units. This distribution indicates a focus on housing for smaller households and families.
Over the past decade, zip code 28327 has experienced significant population growth, increasing from 16,948 in 2015 to 21,741 in 2022. Median income has also risen substantially, from $56,119 in 2015 to $68,718 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population (from 82% to 79%) and increases in Hispanic (4% to 9%) and multi-racial (1% to 4%) populations.
No new LIHTC projects have been recorded in zip code 28327 in the last decade. This may be attributed to the rising median income, which could have reduced the perceived need for additional low-income housing in the area.
Zip code 28327 has a modest LIHTC-funded affordable housing inventory, representing a small percentage of its estimated housing stock. The area experienced LIHTC development activity in the late 1990s, with a focus on one-bedroom units. Despite significant population growth and income increases over the past decade, no new LIHTC projects have been recorded. The changing demographics and economic conditions of zip code 28327 may be influencing the current affordable housing landscape.
