# Cabarrus County

### Summary

27.1%

share of renter households

48.7%

share of low-income households

41.3%

share of rent-burdened households

### Renter population data

#### Renters vs homeowners

| Households           | % share  |
|----------------------|----------|
| Renter households     | 20,333   | 27.1%   |
| Homeowner households  | 54,634   | 72.9%   |
| Total households      | 74,967   | 100.0%  |

#### Low-income renter households

| Households                              | % share  |
|-----------------------------------------|----------|
| Extremely low-income (≤30% AMI)        | 2,445    | 12.0%   |
| Very low-income (31-50% AMI)           | 2,367    | 11.6%   |
| Low-income (51-80% AMI)                | 5,082    | 25.0%   |
| All low-income households (<80% AMI)    | 9,894    | 48.7%   |

#### Rent-burdened households

| Households                        | % share  |
|-----------------------------------|----------|
| Moderately rent-burdened           | 4,985    | 24.5%   |
| 30.0–34.9%                        | 1,852    | 9.1%    |
| 35.0–39.9%                        | 1,564    | 7.7%    |
| 40.0-49.9%                        | 1,569    | 7.7%    |
| Severely rent-burdened            | 3,418    | 16.8%   |
| All rent-burdened households      | 8,403    | 41.3%   |

### Affordable housing shortage

#### Rent vs median household income

| Median household income   | Amount ($) |
|---------------------------|-------------|
| in 2010                   | 32,189      |
| in 2021                   | 46,951      |
| Increase (2010–2021)      | 45.9%       |

| Median rent              | Amount ($) |
|--------------------------|-------------|
| in 2010                  | 423         |
| in 2021                  | 859         |
| Increase (2010–2021)     | 103.1%      |

#### Affordable housing stock

| Units                     | Count      |
|---------------------------|------------|
| Supply (current stock)    | 2,111      |
| Demand (total units needed)| 4,482      |
| Shortage                  | 2,624      |
| Total shortage            | 2,624      |
| Supply/demand ratio       | 47.1%      |

### HUD National Low Income Housing Tax Credit (LIHTC) Database

| Name                                     | Type                          | Year | Zipcode | Market Rate | Low-income | Amount          |
|------------------------------------------|-------------------------------|------|---------|-------------|------------|------------------|
| HIGHBRIDGE OVERLOOK                      | New construction              | 2014 | N/A     | 1           | N/A        | $1,804,887       |
| IRVINGTON FAMILY APTS                    | New construction              | 2007 | N/A     | 1           | N/A        | $1,378,252       |
| HILLTOP VILLAGE                          | New construction - Acquisition | 2012 | N/A     | 0           | N/A        | $504,385         |
| HUNTINGTON RESERVE                       | NA                            | 2006 | N/A     | 0           | N/A        | $424,046         |
| HOLT + HAMILTON FAMILY APARTMENTS       | New construction              | 2016 | N/A     | 1           | N/A        | $1,557,010       |

... (data continues with additional properties) ...