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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dunn, North Carolina, with a population of 11,986 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 242 total units, including 151 low-income units. This represents approximately 5.3% of the city's estimated housing stock of 4,592 units.
The city has received $1,017,859 in project tax credits through the LIHTC program, distributed across approximately 7 projects. This equates to an average of $145,408 in federal funding per project and $4,206 per unit. Dunn's share of North Carolina's total LIHTC funding is 0.23%, indicating a relatively small portion of the state's affordable housing efforts.
Dunn's LIHTC funded affordable housing development spans from 1990 to 2015, with Greenfield Village being the first project and Harnett Training School Apartments the most recent. The 1990s saw the most activity in affordable housing construction, with three projects completed during this decade: Greenfield Village (1990), The Village Apartments (1994), and Tilghman Square Apts (1997).
The housing units in Dunn's LIHTC funded projects primarily consist of one-bedroom and two-bedroom units, with 138 and 104 units respectively. This distribution suggests a focus on accommodating smaller households and families.
Dunn's population has shown a declining trend over the last decade, decreasing from 13,655 in 2015 to 11,986 in 2022. Despite this population decrease, the median income has risen from $31,672 in 2015 to $40,095 in 2022. This increase in median income may partially explain the lack of new LIHTC projects since 2015, as the overall economic situation of residents may have improved.
The racial demographics of Dunn have remained relatively stable over the past decade. The white population has increased slightly from 54% in 2015 to 58% in 2022, while the Black population has decreased slightly from 32% to 31% during the same period. The Hispanic population has remained steady at around 7-8%.
Dunn's LIHTC funded affordable housing inventory covers a small portion of the city's estimated housing stock. The city has received over $1 million in tax credits, distributed across approximately 7 projects over 25 years. The focus has been on one-bedroom and two-bedroom units, potentially catering to smaller households. The absence of new LIHTC projects since 2015 coincides with a period of population decline and increasing median income, which may have influenced the perceived need for additional affordable housing developments.