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Affordable Housing in ZIP Code 28585: LIHTC-Funded Inventory in Trenton, 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 28585 in Trenton, North Carolina, contains a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has a total of 25 units, with 24 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 1.66% of the local housing inventory, based on an estimated 1,504 housing units in the ZIP code.
The LIHTC program has invested $129,198 in tax credits for affordable housing projects in ZIP code 28585. This investment equates to an average federal funding of $5,168 per unit. The investment represents 0.03% of North Carolina's total LIHTC funding, indicating a modest contribution to the state's affordable housing initiatives.
The Trent River Apartments, completed in 2003, is the primary LIHTC-funded project in the area. This development has provided affordable housing options for nearly two decades, demonstrating a long-term commitment to addressing housing needs in the community. The affordable housing inventory in this ZIP code includes 8 one-bedroom units and 17 two-bedroom units, accommodating various household sizes and needs.
ZIP code 28585 has experienced a gradual population decline over the past decade, from 4,279 residents in 2015 to 3,926 in 2022. Despite this decrease, the median income has fluctuated, rising from $32,707 in 2015 to $40,589 in 2022. This income growth may indicate changing economic conditions in the area.
The racial composition of ZIP code 28585 has remained relatively stable. The white population decreased slightly from 67% in 2015 to 64% in 2022, while the Black population increased marginally from 25% to 25% during the same period. The Hispanic population saw a small increase from 4% to 7%.
No new LIHTC projects have been constructed in ZIP code 28585 in the last decade. However, the demographic trends suggest a potential ongoing need for affordable housing options, particularly considering the modest median income levels.
ZIP code 28585 in Trenton, North Carolina, demonstrates a focused approach to affordable housing through its LIHTC-funded inventory. The area addresses a portion of its affordable housing needs with 25 total units, primarily consisting of one and two-bedroom apartments. The Trent River Apartments, established in 2003, highlights the community's long-term commitment to providing low-income housing options. Despite a slight population decline over the past decade, the stable racial composition and fluctuating median income levels indicate a continued need for affordable housing solutions in this community.
