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Affordable Housing in Zip Code 28604: A Unique LIHTC Project in Beech Mountain, 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 28604, located in Beech Mountain, North Carolina, features a single Low-Income Housing Tax Credit (LIHTC) project. This project, Rockmoor Apts, was completed in 1991 and provides 12 affordable housing units. All units in this project are designated as low-income. Based on the 2022 population of 6,967 and using the national average household size of 2.61, the estimated number of housing units in this zip code is approximately 2,669. The LIHTC-funded affordable housing represents about 0.45% of the estimated housing inventory in the area.
The LIHTC program has invested $20,539 in tax credits for affordable housing in zip code 28604. This investment translates to an average federal funding of approximately $1,712 per unit. Rockmoor Apts has been providing affordable housing options in the zip code for over three decades. The project consists of 12 units, with a mix of one-bedroom and two-bedroom apartments. Specifically, it offers 1 one-bedroom unit and 11 two-bedroom units, suggesting a focus on accommodating small families or couples in the area.
The population in zip code 28604 has fluctuated over the past decade, ranging from 6,355 in 2015 to 7,253 in 2021. The median income has generally increased, rising from $47,752 in 2013 to $52,639 in 2022, with a peak of $59,707 in 2021. This upward trend in median income might indicate a decreasing need for additional affordable housing in recent years.
The racial composition of zip code 28604 has remained relatively stable. The white population has consistently made up the majority, ranging from 89% to 92% over the past decade. The Hispanic population has shown a slight increase from 3% in 2013 to 5% in 2022. Other racial groups have maintained relatively small percentages throughout this period.
Zip code 28604 in Beech Mountain, North Carolina, has a single LIHTC-funded affordable housing project, Rockmoor Apts, which has been serving the community since 1991. The project provides 12 low-income units, representing a small fraction of the estimated housing inventory in the area. The zip code has experienced moderate population growth and increasing median income over the past decade, which may influence the demand for affordable housing. The racial composition has remained relatively stable, with a slight increase in the Hispanic population. These demographic trends, coupled with the long-standing presence of the LIHTC project, provide a snapshot of the affordable housing landscape in this zip code.
