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Clinton, North Carolina: Affordable Housing Stability Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Clinton, located in North Carolina, has a population of 16,025 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 78 total units, with 42 of those designated as low-income units. Based on the estimated housing inventory of 6,140 units, the LIHTC-funded affordable housing covers approximately 1.27% of the city's housing stock.
Clinton has received $131,382 in project tax credits through the LIHTC program. With three approximate projects, this translates to an average of $43,794 in federal funding per project. The average federal funding per unit is $1,684. Clinton holds 0.03% of the total state LIHTC funding.
The first LIHTC project in Clinton, North Clinton Manor, was completed in 1989, while the most recent project, Sampson Square, was finished in 2010. This indicates that affordable housing has been present in the city for over two decades. The 2000s saw the most affordable housing development, with two projects completed during this decade: Lisbon Square Apts in 2002 and Sampson Square in 2010.
The LIHTC-funded affordable housing in Clinton consists primarily of one-bedroom units (62) and two-bedroom units (16). There are no efficiencies, three-bedroom, or four-bedroom units reported in the LIHTC inventory.
Over the past decade, Clinton's population has remained relatively stable, with minor fluctuations. The median income has shown an overall increasing trend, rising from $37,974 in 2013 to $40,054 in 2022. This growth in median income might indicate a reduced need for additional affordable housing units in recent years.
Regarding racial demographics, the city has maintained a diverse population. The Black population has slightly increased from 31% in 2019 to 35% in 2022, while the White population has decreased from 42% to 39% during the same period. The Hispanic population has remained relatively stable at around 20-21%. These demographic shifts may influence future affordable housing needs and planning.
Clinton's LIHTC-funded affordable housing inventory represents a small portion of its estimated housing stock. The city has seen sporadic development of LIHTC projects over the past three decades, with the most recent project completed in 2010. The available units are predominantly one-bedroom and two-bedroom, potentially catering to smaller households. While the population has remained relatively stable, the increasing median income trend may impact the demand for affordable housing. The city's diverse racial composition and its changes over time may also influence future affordable housing strategies and needs.
