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Dilworth's Affordable Housing: A Single LIHTC Project in a Growing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dilworth, a neighborhood in Charlotte, North Carolina, has a population of 12,078 as of 2022. This area has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 17 low-income units. Based on the estimated housing inventory of 4,628 units, the LIHTC funded affordable housing covers approximately 0.37% of the neighborhood's housing stock.
The LIHTC program has invested $766,234 in tax credits for affordable housing in Dilworth. This translates to an average federal funding of $45,072 per unit. The sole LIHTC project in the neighborhood, Strawn Tower II, was completed in 2012. This project consists of 17 units, including 12 efficiencies and 5 one-bedroom apartments, catering to smaller household sizes.
Since the completion of Strawn Tower II in 2012, Dilworth has experienced significant population growth, increasing from 7,896 in 2012 to 12,078 in 2022. The median income has also risen, from $108,699 in 2013 to $116,509 in 2022. Despite this growth, the racial composition has remained relatively stable, with a slight decrease in the white population from 86% in 2013 to 81% in 2022, and minor increases in Asian, Hispanic, and multi-racial populations.
The lack of additional LIHTC projects in the past decade may be attributed to the neighborhood's rising median income and population growth, potentially indicating a reduced need for low-income housing in this specific area.
Dilworth's LIHTC funded affordable housing inventory consists of a single project, Strawn Tower II, completed in 2012. This project provides 17 low-income units, primarily efficiencies and one-bedroom apartments. While the neighborhood has experienced significant population and income growth over the past decade, the LIHTC funded affordable housing stock has remained constant, covering a small percentage of the estimated housing inventory. The demographic trends suggest a potentially changing landscape for affordable housing needs in Dilworth.
