Orange County NC Website
Browse       Search
16 <br /> 1 Slide #15 <br /> Housing Availability in Orange County: <br /> Triangle Community Foundation Study <br /> Staff Compared Survey Results to Housing Analysis From <br /> • Triangle Community Foundation's 2025 "Orange County, North Carolina Affordable Housing Market Data", <br /> as analyzed by Balance Community Advisors <br /> • The analysis is derived from a regional "snapshot"of Housing Affordability focusing on cost burdened <br /> households and availability of housing types and stock at all price points. <br /> • For Orange County, the study identified a 2025 need for <br /> 9,555 units(new and existing)for"low-income" residents(defined as<SO%of the Area Median Income) <br /> 17%of homeowners,and 64%of low-income homeowners,are"cost-burdened" <br /> 45%of renters,and 71%of low-income renters,are"cost-burdened" <br /> Assuming that all multifamily units and one-third of townhomes units will be rentals, the recent survey <br /> identifies that Orange County is providing: <br /> 8,726 new rental units <br /> 2,639 new for-sale homes <br /> 752 units are restricted as"affordable" <br /> 2 <br /> 3 Cy Stober said based on the study in slide#15, the county is meeting the rental demands, <br /> 4 but not the for-sale needs. He said the county would be meeting the for-sale affordable need, but <br /> 5 the not the rental affordable need. <br /> 6 Vice-Chair Fowler said "9,555 new and existing units" was confusing. <br /> 7 Cy Stober said they need 9,555 at an affordable price point. <br /> 8 Vice-Chair Fowler asked how many units in that category already exist. <br /> 9 Chair Hamilton said it's the figure needed given the population that is low-income. <br /> 10 Vice-Chair Fowler said she would like to know how many new ones are needed. <br /> 11 Cy Stober said 9,555 is needed, whether it is new or an existing home that is donated to <br /> 12 a land trust or to a home trust and kept secure at an affordable price. <br /> 13 <br /> 14 <br />