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16 <br /> Needs Assessment ------------------------------------------- <br /> ------------------------------- <br /> NA-05 Overview <br /> Overview <br /> This section utilizes HUD's Comprehensive Housing Affordability Strategy(CHAS) data to assess <br /> changes in housing, social service, and economic development needs in Orange County. For tables <br /> using CHAS data, 2011-2015 American Community Survey(ACS)estimates serve as the`base' <br /> year, and 2017-2022 ACS estimates serve as the most recent year.The CHAS data automatically <br /> populates the tables with the relevant ACS estimates. <br /> The Needs Assessment relies on additional data sources beyond the CHAS data provided by HUD. <br /> Data from the 2020 Census and 2017-2022 American Community Survey was used to provide <br /> additional context. Data pertaining to homelessness was provided by the Director of the Orange <br /> County Partnership to End Homelessness. Orange County is a part of the Orange County <br /> Partnership to End Homelessness Continuum of Care. Data on public housing was provided by staff <br /> at the Orange County Housing Authority and Chapel Hill Department of Housing.This information <br /> was supplemented with figures from HUD's Housing Authority Profiles data interface. Additional <br /> data was provided by Central Pines Regional Council on Naturally Occurring Affordable Housing <br /> and by the Orange County Affordable Housing Coalition on subsidized housing units held by service <br /> providers in the County. <br /> Summary of Housing Needs <br /> According to ACS data, between 2016 and 2022, Orange County's population grew by 4.37%, <br /> increasing from 139,807 to 145,919 residents, a net addition of 6,112 people. During the same <br /> period,the number of households grew at a faster rate of 7.3%,with 3,806 new households formed, <br /> reflecting a shift in household composition. Median income in the county saw a significant increase <br /> of 40%, rising from $61,130 to$85,785,which suggests an overall improvement in the local <br /> economy during the period of high growth. <br /> However, despite these positive trends in population and wages, housing affordability remains a <br /> critical concern. Currently, 55%of renters in Orange County are cost burdened, meaning they <br /> spend more than 30%of their income on housing. Similarly, 18%of homeowners face the same <br /> financial strain.This disparity highlights the ongoing challenges in ensuring that the county's <br /> housing supply and affordability keep pace with population and income growth, particularly for <br /> vulnerable groups such as lower-income households and renters.These dynamics emphasize the <br /> need for targeted strategies to address housing affordability and reduce the prevalence of cost- <br /> burdened households. <br /> 13 <br />