Orange County NC Website
1'H7 <br />Chapter 5: Housing Element <br />FIGURE 5-6: DISTRIBUTION OF HOUSING SALES PRICES IN <br />ORANGE COUNTY (2000-2005) <br /> <br />Pr1ce ; ~• <br />2000- <br />Dlstributlon~ 2000 2001 2002 _ 20p3 2004 2005 2005 <br /><$79,000 5.2% 4.0% 3.3% 2.3% 4.6% 2.9% -44% <br />$80,000 - <br /> <br />$119 999 13.1 % 12.4% 11.6% 10.9% 8.9% 7.5% -43% <br />$120,000 <br />s- <br />159 000 15.1% 16.0% 15.3% 14.3% 12.6% 14.0% -7% <br />$160,000 - <br /> <br />199 000 14.2% 13.9% 14.7% 13.1% 11.4°h 11.5% -19% <br />$200,000- <br /> <br />$249 999 13.7% 12.1% 12.1% 14.4% 14.8% 14.0% 2% <br />$250,000+ 38.6% 41.6% 43.7% 45.2% 47.8% 51.0% 32% <br />Avg Prtce $235,833 $249,228 $261,895 $280,592 _$298,883 $320,489 38% <br />Meme .nd s°a,°.a: <br />' F°- new end re,seb retidencea. <br />Dam compae0 by Chapel Mill FYenninp Depertmerk <br />Source: Tn'enyb MLS <br />Housing Supply and Demand BL, Type52 <br />Single-Family Units. Between 1996 and 2004, a total <br />of 4,473 new single family units were permitted in <br />unincorporated Orange County, 3,414 in Chapel Hill, <br />and 1,076 in Carrboro. The 2006 Comprehensive <br />Housing Strategy estimates that three person families <br />at or below 95% of the area median income and four <br />person families at or below 85% of the area median <br />income could not afford the typical home in Orange <br />County. <br />Multi-Family Rental Units. Between 1996 and 2004, <br />total rental production for Orange County was 2,160 <br />units, or an average of 216 units annually. Multi- <br />family permits constituted 17.1 percent of all permits <br />in the County during the period. The vast majority of <br />new multi-family units produced in the county (89.4%) <br />were in multi-family structures with more than five <br />units. The majority of these units are in Chapel Hill. <br />In 2006, except for two-person families at or below 30 <br />percent of median income, there were a significant <br />number of rental units available at all income levels. <br />Mobile Homes. The total number of mobile homes in <br />2000 was 5,1 14 units, or 6.9% of the housing market. <br />The majority of these units (3,558) were owner- <br />occupied. Mobile homes represent a small but <br />growing segment of the overall housing market. Due <br />to rising land values, it is expected that Chapel Hill <br />and Carrboro will have fewer mobile home parks and <br />units in future years. These displaced homeowners <br />may have difficulty finding other sources of affordable <br />housing. <br />Ora.rt,~~Cawvlty Co-rnpreh~n~r'we<~lave WORKING DRAFT 3-5-OS 56 <br />