HOUSING NEED | Key Takeaways
The City’s affordability challenges are concentrated among renters earning under $30K, with those earning under $20K facing the most extreme need.
+104% Cost-burdened renters since 2010 earning $35-$50K 13.7K Current gap in units affordable below $20K -25% Cost burdened homeowners since 2010
There is a large housing gap in rental units affordable to Greensboro’s lowest - income earners, and this housing gap is projected to expand.
Middle-income renters are also increasingly cost-burdened and facing affordability challenges.
Owner cost burden is declining as Greensboro loses homeowners earning below $100K.
While income required to afford the median home value has remained fairly steady, falling rates of homeownership imply other barriers for residents.
-1.8K Overall homeowners since 2010
-$1.79 Decrease in federal funds per capita for housing programs , 2010-2017
Declining federal funds and the North Carolina Qualified Allocation Plan limit the City’s ability to produce units through standard funding sources.
Source: 2010, 2017 ACS Estimates, HUD
HR&A Advisors, Inc.
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