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Analysis of LIHTC Affordable Housing in Zip Code 27806: Aurora's Mallard Creek Apartments
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 27806 in Aurora, North Carolina, contains 24 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income. The estimated total housing inventory for this zip code is approximately 853 units, based on the 2022 population of 2,226 and the national average household size of 2.61. LIHTC funded affordable housing comprises about 2.8% of the estimated housing units in the zip code.
The LIHTC project in zip code 27806 received $37,439 in tax credits, averaging $1,560 per unit. This funding represents approximately 0.01% of North Carolina's total LIHTC allocation. Mallard Creek Apartments, the sole LIHTC project in this area, was completed in 1993, indicating a nearly three-decade presence of affordable housing in the zip code.
Mallard Creek Apartments consists of 24 units, with 22 one-bedroom units and 2 two-bedroom units. This distribution suggests a focus on housing for individuals or small families. The project does not have a specified target population, indicating it may serve a general low-income demographic.
Zip code 27806 has experienced population fluctuations over the past decade, with a general downward trend from 2,962 residents in 2010 to 2,226 in 2022. The median income has also shown variability, decreasing from $47,191 in 2013 to $34,825 in 2022. This decline in income could potentially indicate an increased need for affordable housing options.
Racial demographics in zip code 27806 have shifted slightly, with the Black population increasing from 33% in 2015 to 45% in 2022, while the White population decreased from 65% to 45% over the same period. The Hispanic population has grown from 0% in 2016 to 7% in 2022. These changes in racial composition and income levels may influence future affordable housing needs in the area.
The LIHTC funded affordable housing in zip code 27806 consists of a single project completed in 1993, providing 24 low-income units. While this represents a small percentage of the estimated housing inventory, it has been a consistent presence for nearly 30 years. The demographic trends, including population fluctuations and decreasing median income, suggest that the need for affordable housing may be evolving. As the racial composition of the area continues to change and income levels fluctuate, ongoing assessment of affordable housing needs will be crucial for this community.
