Affordable Housing Goals


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Affordable Housing Goals

City of Raleigh and the Housing and Neighborhoods Department are committed to assist in providing opportunities for the the creation, preservation, and encouragement for the development of affordable housing units

 

 

Affordable Housing Goals

Affordable housing is important to City residents with stable housing benefit from increased family stability, improved education opportunities and career advancement, and reduced risks of homelessness. Affordable housing is also a key factor in community vitality and continued economic growth.

The City is committed to creating, preserving, and encouraging the development of affordable housing units in Raleigh. The City’s efforts primarily serve low- and moderate-income (LMI) individuals and families. The LMI income limits are set each year by the US Department of Housing and Urban Development.

Beginning in 2016, the City established an aspirational goal to create 570 affordable housing units a year for 10-years, with a grand total of 5,700 housing units by 2026. The affordable housing goal counts housing units that have been created and/or preserved through the following four activities.

  • The number of homebuyers receiving financial assistance through the Raleigh homebuyer assistance program 

  • The number of owner-occupied homes repaired through the Raleigh Housing Rehabilitation Programs:

o   Limited Repair Program

o   Substantial Repair Program 

The City is currently in the fourth year of production for the affordable housing goal. After 3 years, the City has completed approximately 1/3 of the 10-year goal. The City has created and preserved 1,873 affordable housing units to date, and the City is projecting to complete another 544 units this current fiscal year. The City will continue to work toward the aspirational affordable housing goal, and periodic updates will be added to the Housing and Neighborhoods website.

Chart showing progress towards 5700 total units. 1798 units created through FY 19. 544 projected for FY 19-20. 3,358 left to obtain goal.

Achievement of goals

Contact

 

Housing and Neighborhoods Department

421 Fayetteville St. 12th Floor, Ste. 1200

Raleigh, NC 

(919)996-4330

CD.info@raleighnc.gov

 

Lead Department:
Housing and Neighborhoods
Service Categories:
Community Development