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<br />What are the basic conditions defining housing and community development
<br />needs in Orange County?
<br />The 2006 - 2008 Census estimates the total population of Orange County at
<br />124,168. The racial makeup of the County was 76.21% White, 12.99% Black /African
<br />American, 0.37% American Indian and /or Alaskan Native, 5.66% Asian, and 2.86%
<br />some other race; the American Community Survey did not estimate the size of the
<br />Hispanic or Latino populations. Historical trends in Orange County's racial makeup
<br />between 1990 and 2008 are depicted in the Table on the next page.
<br />While recent economic conditions have caused home prices to fall in many parts of
<br />the United States, the housing market downturn is having only minimal effects on
<br />Orange County relative to other regions. As reported in the February 2009 issue of
<br />The Triangle Business Journal, "The Triangle's housing market continues to be
<br />among the best in the country in terms of prices, according to a new batch of federal
<br />data. The Federal Housing Finance Agency says home prices in the Raleigh -Cary area
<br />increased by 2.96 percent in 2008. That ranks the Raleigh metropolitan area 18th
<br />best in the country. The Durham - Chapel Hill area also fared well, placing 28th with
<br />home -price growth of 2.15 percent for the 12 months ending Dec. 31. Nationally,
<br />FHFA says, home prices fell by 4.5 percent in 2008." Based on these and other
<br />indicators in the housing market, it appears as though the foreclosure crisis in
<br />America has had little impact on home sales prices [on average] in Orange County.
<br />Triangle Business Journal, "'11::ZaIle4lh &ind f;;; it ��„ ,,,1 II,,,,,,,1 ur „T,,,i e If 3 ur ces 11::Zose Agahnst Fu de iii urn 2008. I,,,,,,, e III it a it 1
<br />.009 :// i__ / / i_- is - i ®i -i
<br />FY 2,010 2015 Coinsolidated Plain
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<br />0
<br />1990
<br />75,871
<br />14,893
<br />286
<br />2,325
<br />36
<br />440
<br />5,273
<br />2000
<br />92,272
<br />16,298
<br />457
<br />4,845
<br />20
<br />2,312
<br />3,480
<br />2006-
<br />2008*
<br />94,631
<br />16,130
<br />461
<br />7,023
<br />29
<br />3,525
<br />--
<br />Sources: Census 1990 Summary Tape File 1, Census
<br />2000 Summary File 1, and 2006 -2008 American
<br />Community Survey 3 -year estimates
<br />While recent economic conditions have caused home prices to fall in many parts of
<br />the United States, the housing market downturn is having only minimal effects on
<br />Orange County relative to other regions. As reported in the February 2009 issue of
<br />The Triangle Business Journal, "The Triangle's housing market continues to be
<br />among the best in the country in terms of prices, according to a new batch of federal
<br />data. The Federal Housing Finance Agency says home prices in the Raleigh -Cary area
<br />increased by 2.96 percent in 2008. That ranks the Raleigh metropolitan area 18th
<br />best in the country. The Durham - Chapel Hill area also fared well, placing 28th with
<br />home -price growth of 2.15 percent for the 12 months ending Dec. 31. Nationally,
<br />FHFA says, home prices fell by 4.5 percent in 2008." Based on these and other
<br />indicators in the housing market, it appears as though the foreclosure crisis in
<br />America has had little impact on home sales prices [on average] in Orange County.
<br />Triangle Business Journal, "'11::ZaIle4lh &ind f;;; it ��„ ,,,1 II,,,,,,,1 ur „T,,,i e If 3 ur ces 11::Zose Agahnst Fu de iii urn 2008. I,,,,,,, e III it a it 1
<br />.009 :// i__ / / i_- is - i ®i -i
<br />FY 2,010 2015 Coinsolidated Plain
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