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7 <br /> 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 /> Yonah Freemark said the share of households that are owners are affected by the type of <br /> available housing stock. He said the share of households that are one person may mean that <br /> there are more older adults who are living by themselves and staying in their homes. <br /> Commissioner Carter asked if the data in share of households that are owners table could <br /> show a regional effect. <br /> Yonah Freemark said it could be, but they would need to wait 5 years to determine trends. <br /> Commissioner McKee asked if the influx of high wealth residents affects the share of <br /> households that are owners. <br /> Yonah Freemark said yes. He said Orange County may be a more attractive place for higher <br /> income people who want to live in single-family homes. He said there may be a great demand <br /> among higher net worth and higher wealth individuals to live in the county. He said retiree <br /> income may not represent their wealth, but they are able to afford higher expense homes. <br /> Commissioner McKee said people in that category also carry less debt. He said 30 to 40 <br /> years ago there was a belief that Orange County would be the bedroom community for the <br /> Triangle, and there was an illusion created that the county was somewhere you could live but <br /> work somewhere else. <br /> Yonah Freemark said the interpretation of the date is that Orange County made land use <br /> decisions that encourage a pattern of growth that's like Chatham County. He said Orange County <br /> wants to be the place where people buy large lot single family homes. He said this is a trend that <br /> Chatham County is following, while Wake and Durham have focused on broader housing diversity <br /> and diversity of individuals that live there. <br /> Commissioner McKee said he thought that would continue. <br />