So far, the City has completed about half of the 10-year goal.
The City has created and preserved 2,872 affordable housing units to date, and the City is projecting to complete another 544 units this current fiscal year.
The City’s efforts primarily serve low- and moderate-income (LMI) individuals and families. The LMI income limits are set each year by the U.S. Department of Housing and Urban Development.
How We Work to Meet Our Goals
The affordable housing goal counts housing units that have been created and/or preserved through the following four activities:
- New single-family houses and town-homes constructed for affordable home buyers
- Affordable rental apartments that are newly constructed or preserved
- Homebuyers receiving financial assistance through the Raleigh homebuyer assistance program
- Owner-occupied homes repaired through the Homeowner Rehab and Limited Repair Programs
Affordable Housing Bond
The Affordable Housing Bond is an investment to support and enrich the lives of residents with household incomes that are 30%, 50%, 60%, and 80% of AMI. The bond, totaling $80 million, will be spent in stages over the next five years. To learn more, please visit the links below: