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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenville, North Carolina, has a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. As of 2022, the city had a population of 89,222 and an estimated housing inventory of 34,185 units. The LIHTC program has funded 991 total units in Greenville, with 901 designated as low-income units. This represents approximately 2.9% of the city's estimated housing inventory.
Greenville has received $5,010,872 in project tax credits through the LIHTC program. With approximately 22 projects, this averages to $227,767 per project and $5,056 per unit. The city holds 1.15% of North Carolina's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts.
The first LIHTC project in Greenville was completed in 1987, and the most recent in 2022, demonstrating a 35-year span of affordable housing development. The 1990s saw the most affordable housing projects completed, including developments like Carney Village and Barrett Place Apartments.
The LIHTC-funded projects in Greenville offer a variety of unit types, with 154 one-bedroom, 413 two-bedroom, 174 three-bedroom, and 14 four-bedroom units. This distribution suggests a focus on accommodating diverse household sizes, with an emphasis on two-bedroom units.
Over the past decade, Greenville's population has shown fluctuations, peaking at 93,391 in 2019 before declining to 89,222 in 2022. The median income has seen significant changes, dropping from $48,169 in 2019 to $36,687 in 2021, before rising to $50,120 in 2022. These income fluctuations may indicate a varying need for affordable housing options.
Greenville has maintained a relatively stable racial composition over the past decade. The white population has slightly decreased from 55% to 53%, while the Black population has increased from 34% to 36%. The Hispanic population has remained steady at around 5%. This stability in racial demographics suggests that LIHTC projects have been serving a consistent demographic mix in the city.
Greenville's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has consistently developed affordable housing projects over the past three decades, with a focus on diverse unit types to accommodate various household sizes. While the LIHTC program has made a notable contribution to Greenville's affordable housing landscape, there may be room for expansion to meet the needs of the city's low-income residents. The recent fluctuations in median income and population suggest that the demand for affordable housing may continue to evolve, highlighting the ongoing importance of programs like LIHTC in addressing housing needs in Greenville.