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7 <br /> 1 Slide #10 <br /> HOUSING IN ORANGE COUNTY <br /> Orange County Has Become More Occupied by <br /> Homeowners and One-Person Households <br /> Share of households that are owners Share of households that are one person <br /> -0-Alamance County-0-Chatham County Durham County -0-Alamance County-0-Chatham County Durham County <br /> Orange County Wake County Orange County Wake County <br /> 85% 36% <br /> 80% 34% <br /> 75% 32% <br /> 70% 30% <br /> 65% 28 <br /> 26% <br /> 60% <br /> 24% <br /> 55% <br /> 22% <br /> 50% 20% <br /> 1990 2000 2010 2020-24 1990 2000 2010 2020-24 <br /> u R 9 A N I N s T I T U T[ - Source:US Census 1990,2000,2010,and ACS 2020-2024. 10 <br /> 2 <br /> 3 Yonah Freemark said the share of households that are owners are affected by the type of <br /> 4 available housing stock. He said the share of households that are one person may mean that <br /> 5 there are more older adults who are living by themselves and staying in their homes. <br /> 6 Commissioner Carter asked if the data in share of households that are owners table could <br /> 7 show a regional effect. <br /> 8 Yonah Freemark said it could be, but they would need to wait 5 years to determine trends. <br /> 9 Commissioner McKee asked if the influx of high wealth residents affects the share of <br /> 10 households that are owners. <br /> 11 Yonah Freemark said yes. He said Orange County may be a more attractive place for higher <br /> 12 income people who want to live in single-family homes. He said there may be a great demand <br /> 13 among higher net worth and higher wealth individuals to live in the county. He said retiree <br /> 14 income may not represent their wealth, but they are able to afford higher expense homes. <br /> 15 Commissioner McKee said people in that category also carry less debt. He said 30 to 40 <br /> 16 years ago there was a belief that Orange County would be the bedroom community for the <br /> 17 Triangle, and there was an illusion created that the county was somewhere you could live but <br /> 18 work somewhere else. <br /> 19 Yonah Freemark said the interpretation of the date is that Orange County made land use <br /> 20 decisions that encourage a pattern of growth that's like Chatham County. He said Orange County <br /> 21 wants to be the place where people buy large lot single family homes. He said this is a trend that <br /> 22 Chatham County is following, while Wake and Durham have focused on broader housing diversity <br /> 23 and diversity of individuals that live there. <br /> 24 Commissioner McKee said he thought that would continue. <br /> 25 <br /> 26 <br />