Agenda - 10-14-1993 - C 1 - Laserfiche WebLink

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1 . 0,Q) PROFILE a. MARKET AND INVENTORY CHARACTERISTICS 1. Community Description i. Background. Historically, a variety of housing opportunities have been available in Orange County to meet the needs of a diverse population. This diversity has been expressed in housing sizes and styles, however, in recent years, this diversity has been threatened due to the diminishing availability of housing for very low-, low-, and moderate-income residents. The median income for a family of four in Orange County is $40 , 685 while the median value of a home is $101 ,500 . Because of this imbalance, the majority of residents cannot afford to buy a home within the County limits. The availability of basic rental units is also a major concern of Orange County residents, especially in the Chapel Hill/Carrboro area. Many University of North Carolina (UNC) students have the financial means to compete with area very low- and low- income households for the least expensive housing. In Northern Orange County, the sheer availability of rental units poses a problem for lower income residents. Further, the size of rental units is also a major concern. The scarcity of large size rental units (three bedrooms or more) in Orange County makes it difficult for the average family of four to find housing to suit their needs and thus, are forced to live elsewhere. ii. Demographics. The 1990 Census reports that Orange County has a population of 92 ,572 residents. The racial composition of the County has remained fairly consistent since 1980; in 1990, the composition was as follows: the White population was 81% of the population; African Americans were 16% of the population; all races of Hispanic origin were 1% of the population; Native Americans accounted for .2% of the population; and the Asian and Pacific Islanders, and all other populations made up less than 1% of the population. Although the Asian and Pacific Islander population constitutes a small portion of Orange County, this population increased 231%, growing from 710 to 2 ,352 between 1980 and 1990. Chapel Hill also experienced little change in its racial composition since 1980. However, as in Orange County, Chapel Hill experienced a surge in the Asian population of 247% increasing from 484 people to 1,678 people. Approximately 71% of Orange County' s new Asian population reside in Chapel Hill. Race and Income. According to 1990 Census data, 27% (9, 932 ) of all households in Orange County are considered very low- income, earning between 0 - 50% of the median family income ( $20, 343 or less) . With the exception of the White population, the majority of the population of each of the racial groups are considered very low-income, ranging from 37% of the Native American population to 44% of the African American population. 3