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5 <br /> Slide #8 <br /> HOUSING IN ORANGE COUNTY <br /> But, by Some Measures, Orange Remains Less <br /> Affordable Than Surrounding Counties <br /> Median home value as share of median household income Median annual rent as share of median household income <br /> 6 25 <br /> 5 20% <br /> 4 <br /> 15% <br /> 3 <br /> 10% <br /> 2 <br /> 1 5% <br /> 0 0% <br /> Alamance Chatham Durham Orange Wake Alamance Chatham Durham Orange Wake <br /> County County County County County County County County County County <br /> u R 9 A N I N s T I T U T[ - Source:US Census ACS 2020-2024. <br /> Yonah Freemark said it would take 5.7 years for someone to pay off their house in Orange <br /> County, if they spent all their salary on housing. He said that the median household income in <br /> Orange County was lower than Wake, but higher than Durham. <br /> Vice-Chair Fowler asked if this information included students. <br /> Yonah Freemark said it includes students. <br /> Chair Hamilton said there is no control for composition of the households. She said <br /> because the community has a lot of students, it's going to both lower median household income <br /> and increase demand for housing. <br /> Yonah Freemark said that is correct. He said that the student population in Orange County <br /> is declining as a share of the population. <br /> Commissioner Greene said UNC Chapel Hill is looking to add 500 students each year to <br /> increase their student population to 5,000. <br /> Yonah Freemark said something to consider is how well UNC can absorb those students <br /> through dormitories. <br /> Commissioner Portie-Ascott there are other people in the community who are not able to <br /> afford to live in the county. <br /> Yonah Freemark said the students are just a portion of the market. <br />