Brevard, North Carolina, has 232 total units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 178 designated as low-income units. This comprises approximately 4.2% of the city's estimated 5,524 housing units. The city has received $2,039,070 in project tax credits through the LIHTC program, distributed across six projects. This equates to an average of $339,845 in federal funding per project, or about $8,789 per unit. Brevard's share of North Carolina's total LIHTC funding is 0.47%.

The city's LIHTC-funded affordable housing development spans from 1992 to 2013, with the Cedar Hill Apartments and the Cottages At Brevard marking the beginning and end of this period, respectively. The 2010s saw the most recent activity, with projects completed in 2011 and 2013. The affordable housing units in Brevard are distributed as follows: 99 one-bedroom, 91 two-bedroom, and 34 three-bedroom units, accommodating various household sizes.

Brevard's population has remained relatively stable over the past decade, ranging between 13,000 and 15,000 residents. The median income has increased from $38,334 in 2013 to $55,775 in 2022, indicating a potential growing need for affordable housing options. Racial demographics have been fairly consistent, with the white population comprising around 85-86% in recent years. The Black population has increased slightly from 7% in 2013 to 9% in 2022, while other racial groups have maintained stable percentages.