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10 <br /> ORANGE COUNTY <br /> NORTH CAROLINA Orange County, North Carolina <br /> Census that reported 45,863 households in the County. Of the <br /> households in 2011 , 60.2% were owners and 39.8% were renters, <br /> whereas in 2000, 57.6% were owners and 42.4% were renters; <br /> there was a small increase in homeownership over the decade. <br /> • Of the three jurisdictions, Hillsborough has the highest percentage <br /> of owner-occupied units at 55% and Chapel Hill is closer to an <br /> equal distribution between owner-occupied units at 49.1% and <br /> 50.9% respectively. Carrboro has the largest percentage of rental <br /> housing stock, 64.5%. Hillsborough in relation to its overall housing <br /> stock has the highest percentage of older housing, 25% built before <br /> 1960. This is more recently being balanced by new construction; <br /> however there is still the need to improve and preserve the existing <br /> affordable housing stock. <br /> According to the 2007-2011 American Community Survey, there <br /> are 55,315 housing units in Orange County, of which 50,837 <br /> (91 .9%) are occupied; this leaves a vacancy rate of 8.1% in the <br /> County. Most )f the vacant unit. ar_ located in the <br /> northwestern and southeastern portions of the County, and in <br /> the central portion of Chapel Hill and most require some level <br /> of rehabilitation. According to the U.S. Census and the <br /> American Community Survey data, over 27% (1,209) of all <br /> vacant units are not habitable. <br /> The median value of owner-occupied homes in Orange County in <br /> 2000 was $179,000, compared to $108,300 for the State of North <br /> Carolina. The median value of owner-occupied homes in Orange <br /> County in 2011 was $270,300 compared to $152,700 for the State <br /> of North Carolina. The values of the housing stock in Orange <br /> County continue to be substantially higher than those of the State <br /> of North Carolina as a whole and of neighboring jurisdictions. ne <br /> increasing %-osr or acquiring existing properties anti land <br /> makes land banking a valuable tool in preserving and <br /> developing affordable housing for present and future <br /> residents. <br /> • Just over a quarter of all owner-occupied households (28.6%) with <br /> a mortgage are paying over 30% of their monthly income on <br /> housing, indicating a moderate percentage of owners whose <br /> housing is not considered affordable. The median mortgage <br /> expense in Orange County for 2000 was $1,333, compared to <br /> $1,831 in 2011. <br /> Draft Affordable Housing Strategic Plan <br />