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Roxboro's Affordable Housing: LIHTC Funding and 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
Roxboro, a city in North Carolina, has a significant presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 204 total units, with 168 specifically designated as low-income units. Based on the estimated housing inventory of 7,910 units for Roxboro's 2022 population, the LIHTC-funded affordable housing represents approximately 2.58% of the city's housing stock.
Roxboro has received $514,259 in project tax credits through the LIHTC program. With 5 approximate projects, this translates to an average of $102,852 in federal funding per project. When considering the total units, the average federal funding per unit is $2,521. The city holds 0.12% of North Carolina's total LIHTC funding, indicating a relatively small but significant portion of the state's affordable housing efforts.
The LIHTC-funded affordable housing in Roxboro spans from 2000 to 2008, representing nearly a decade of affordable housing development. The first project, Barden Ridge, was completed in 2000. The majority of the projects, including Oaks I, Oaks II, Pine Ridge I, and Pine Ridge II, were all completed in 2008, marking a significant year for affordable housing development in the city.
The housing units are distributed as follows: 92 one-bedroom units, 92 two-bedroom units, and 20 three-bedroom units. This distribution suggests a focus on accommodating both individuals and small families.
Over the past decade, Roxboro's population has remained relatively stable, with a slight decrease from 21,005 in 2010 to 20,645 in 2022. The median income has shown a positive trend, increasing from $37,853 in 2013 to $55,547 in 2022. This income growth might indicate a changing economic landscape in the city.
Racial demographics have shifted slightly, with the white population increasing from 57% in 2013 to 60% in 2022, while the black population decreased from 36% to 28% during the same period. The Hispanic population has grown modestly from 4% to 7%.
Roxboro's LIHTC-funded affordable housing, while representing a small portion of the city's estimated housing stock, provides important low-income housing options. The concentration of project completions in 2008 suggests a focused effort to expand affordable housing during that time. While no new LIHTC projects have been recorded in the last decade, the city's rising median income and shifting demographics may be influencing the current affordable housing needs. The existing LIHTC units continue to play a crucial role in providing housing options for lower-income residents in Roxboro.
