Orange County NC Website
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7 <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 /> <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 /> <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 of the vacant units are 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 /> <br /> <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. The <br />increasing cost of acquiring existing properties and land <br />makes land banking a valuable tool in preserving and <br />developing affordable housing for present and future <br />residents. <br /> <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 /> <br /> 122