Agenda - 11-01-2022; 5-c - 2022 Orange County Transit Plan Update

Browse Search

• 02 orange county. Housing • Residential density is generally concentrated in Chapel EXPRESS The and Transportation Hill, Carrboro, Durham, and areas along the FordhamAffordability Index (H+T Index) was Housing Boulevard/ Durham-Chapel Hill Boulevard (US 15/501) created corridor.Areas of higher density(over 10,000 residents • • ' � Neighborhood _ � •• ••• per square mile) include Duke University and theTechnology " ' provide University of North Carolina-Chapel Hill. Higher density BUS STOP more comprehensive viewof • of ' areas typically feature multi-family housing and a and housing affordability. Traditional more traditional development pattern with smaller lots metrics of affordability only c• •- and higher street network connectivity. There are also housing costs - • determine • • to •- "affordable" several - • •-• - several pockets of higher residential density outside of when monthlyor • •.•- payments accountfor • downtown Chapel Hill on Fordham Boulevard/Durham- more than 30% of household income. Chapel Hill Boulevard (US 15/501) and along the Martin metric is that it does n•t account for •• • costs Luther King, Jr. Boulevard corridor. Hillsborough also in the calculationof monthlyexpenses features a more traditional grid of streets but residential lots are larger and density tends to be much lower thanIndex acknowledges • accounts forthe Chapel Hill or Carrboro. betweenrelationship • • costs and transportation Outside of downtown Chapel Hill, Carrboro, and costs. For example, in the Triangle Region, housing costs Hillsborough, development patterns shift to post-war are typically h • •-nse •. n centers. These suburban development featuring larger lot sizes, strict tend • be the _ locations that enjoy • _ ater access separation of uses, and disconnected, looping street to jobs and better transit service, meaning transportation patterns. These areas are significantly more difficult costs ' to serve by transit - higher-density, well-connected neighborhoods are much better suited for transit In contrast, ' • costs tend to •- lower in locations service . further from •• but •• are generally further away and - - • ,• - Residents Residential density drops significantly otthe boundaries in these locations are generally m• - dependent on of incorporated communities like Chapel Hill and private vehicles and spend more time traveling to and Carrboro and most of Orange County is rural and very from workday. low-density(less than 1,000 residents per square mile). The H+T Index includes both housing AND transportation While the cost of living in North Carolina remains lower costsy. _ combined than the national average, over half of all renters _ more household income, in the state report spending more than 30% of their situation can be considered affordable. gross monthly income on housing each month. This figure only incorporates housing costs and likely CNT underestimates the amount a household spends each mixe • reports month as it neglects to incorporate transportation services' ' • • •• costs (see box H+T Index). transit ' amenities" lower transportation costs, contributing to a higher level of affordability. Orange County has a relatively high median home value ($346,200] as compared to Chatham County 54; west of US 15-501 near Chapel Hill; and east of Hillsborough in ($333,100) or then Durham County ($246,000) (ACS Orange County. Notably, these areas with more affordable housing 2020 5-year estimates). Median value is a rough are more difficult to serve with useful transit service. indicator of the relative affordability of the housing stock in each county.Durham County likely has a higher ,obs share of affordable and potentially affordable homes. The county's largest employers are UNC Chapel Hill,UNC Health Care, Most housing falling into an the "affordable" range and Chapel Hill-Carrboro City Schools. The county's largest private (based on Area Median Income) is between 1-40 and US employer is Eurosport(Sports Endeavors, Inc.),a distributor of sports 15-501(between Chapel Hill and Durham);south of NC- equipment and apparel.Like the region,most residents are employed