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Affordable Housing Inventory and Demographic Shifts in Zip Code 27106: A 23-Year LIHTC Investment Analysis
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 27106 in Winston-Salem, North Carolina, maintains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 379 total units in LIHTC-funded projects, with 234 designated as low-income units. Based on the 2022 population of 50,961 and an estimated 19,525 housing units, the LIHTC-funded affordable housing comprises approximately 1.94% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $3,108,752 in project tax credits, averaging about $8,202 per unit. This zip code holds 0.71% of the total state LIHTC funding, indicating a modest but notable investment in affordable housing for the area.
Affordable housing has been present in this zip code since at least 1996, with the completion of Olde North Village and Bethabara Pointe. The most recent project, Enclave II At Winston-Salem, was completed in 2019, demonstrating a 23-year span of LIHTC-funded housing development in the area. The 1990s saw the most affordable housing projects completed, with two projects finished in 1996.
The housing mix in these LIHTC projects includes 23 one-bedroom units, 173 two-bedroom units, and 183 three-bedroom units, showing a preference for family-sized accommodations.
Over the past decade, the zip code has experienced moderate population growth, increasing from 47,584 in 2013 to 50,961 in 2022. During this period, median income rose from $58,020 in 2013 to $72,467 in 2022, indicating improving economic conditions for residents.
The racial demographics have shown shifts, with the white population decreasing from 60% in 2013 to 53% in 2022, while the Black population increased from 22% to 28%. The Asian population also saw a slight increase from 2% to 3%. These changes suggest a gradually diversifying community.
The completion of the Enclave II At Winston-Salem project in 2019 aligns with this period of population growth and income increase, potentially responding to the changing demographics and housing needs of the area.
Zip code 27106 in Winston-Salem has maintained a consistent presence of LIHTC-funded affordable housing over more than two decades. While the current inventory covers a small percentage of the estimated housing units, it represents a significant investment in affordable housing options for the community. The area has experienced population growth, income increases, and racial diversification over the past decade, which may influence future affordable housing needs and development in the zip code.
