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Affordable Housing Scarcity in Cleveland-Holloway: A Demographic Shift
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cleveland-Holloway, a neighborhood in Durham, North Carolina, presents a unique case in affordable housing. As of 2022, the area, with a population of 2,361, contains one Low-Income Housing Tax Credit (LIHTC) funded project, providing a single affordable unit. This unit is categorized as low-income, contributing to the neighborhood's affordable housing inventory. Within the estimated 905 housing units in the neighborhood, LIHTC-funded affordable housing represents approximately 0.11% of the total housing stock, a figure significantly below typical affordable housing targets.
The LIHTC program has allocated $1,466 in tax credits for the affordable housing project in Cleveland-Holloway. This single-unit project, named "Residence," was completed in 1988, indicating over three decades of LIHTC program presence in the neighborhood. The project consists of one three-bedroom unit, potentially serving families or larger households.
Cleveland-Holloway has undergone significant demographic changes over the past decade. The population has fluctuated, reaching a peak of 2,465 in 2016 before settling at 2,361 in 2022. Median income has shown a substantial increase, rising from $21,016 in 2013 to $45,574 in 2022, possibly indicating gentrification or economic development in the area.
Racial demographics in Cleveland-Holloway have also evolved. The Black population, while remaining the majority, has decreased from 66% in 2015 to 52% in 2022. The White population has increased from 11% to 19% during the same period. The Hispanic population has grown from 14% in 2019 to 24% in 2022. These demographic shifts, particularly the rising median income, may partially explain the lack of additional LIHTC projects in recent years. However, the growing Hispanic population and the still-significant Black population suggest a potential ongoing need for affordable housing options.
Cleveland-Holloway's LIHTC-funded affordable housing inventory is limited to a single three-bedroom unit, completed in 1988. This represents a very small fraction of the neighborhood's estimated housing stock. Over the past decade, the neighborhood has experienced notable demographic changes, including population fluctuations, significant income growth, and shifts in racial composition. These changes may have influenced the lack of recent LIHTC developments. However, the demographic data also suggests that there could still be a need for affordable housing options in the neighborhood, particularly given the diverse population and the historical presence of lower-income residents.
