# Rowan County

### Summary

29.9%

share of renter households

50.5%

share of low-income households

38.4%

share of rent-burdened households

### Renter population data

#### Renters vs homeowners

| Households               | % share   |
|-------------------------|-----------|
| Renter households       | 16,614    | 29.9% |
| Homeowner households     | 38,871    | 70.1% |
| Total households        | 55,485    | 100.0% |

#### Low-income renter households

| Households               | % share   |
|-------------------------|-----------|
| Extremely low-income    | 1,990     | 12.0% |
| Very low-income         | 2,764     | 16.6% |
| Low-income              | 3,631     | 21.9% |
| All low-income households| 8,385     | 50.5% |

### Rent-burdened households

| Share of income spent on rent | Households | % share  |
|-------------------------------|------------|----------|
| Moderately rent-burdened      | 2,737      | 16.5%    |
| 30.0–34.9%                   | 933        | 5.6%     |
| 35.0–39.9%                   | 749        | 4.5%     |
| 40.0-49.9%                   | 1,055      | 6.4%     |
| Severely rent-burdened       | 3,648      | 22.0%    |
| ≥50.0%                       | 3,648      | 22.0%    |
| All rent-burdened households  | 6,385      | 38.4%    |

### Affordable housing shortage

#### Rent vs median household income

| Median household income | Amount ($)        |
|-------------------------|--------------------|
| in 2010                 | 26,601             |
| in 2021                 | 31,670             |
| Increase (2010–2021)    | 19.1%              |

#### Median rent

| Median rent       | Amount ($)        |
|------------------|--------------------|
| in 2010          | 375               |
| in 2021          | 658               |
| Increase (2010–2021)| 75.5%           |

### Affordable housing stock

#### Supply, demand & shortage

| Units                               | Amount          |
|-------------------------------------|------------------|
| Supply (current stock)             | 900              |
| Demand (total units needed)        | 3,949            |
| Shortage                           | 3,274            |
| total shortage                     | 3,274            |
| supply/demand ratio                | 22.8%            |

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

| Name                                           | Type                           | Year | Number of units | Income ceiling | LIHTC allocation | Amount       |
|----------------------------------------------------|--------------------------------|------|-----------------|-----------------|------------------|--------------|
| HIGHBRIDGE OVERLOOK                                 | New construction               | 2014 | N/A             | N/A             | $1,804,887       |
| IRVINGTON FAMILY APTS                              | New construction               | 2007 | N/A             | N/A             | $1,378,252       |
| HILLTOP VILLAGE                                   | New construction - Acquisition and Rehab | 2012 | N/A             | N/A             | $504,385         |
| HUNTINGTON RESERVE                                | NA                             | 2006 | N/A             | N/A             | $424,046         |
| HOLT + HAMILTON FAMILY APARTMENTS                | New construction               | 2016 | N/A             | N/A             | $1,557,010       |
| INTERVALE GARDENS LLC                             | New construction               | 2008 | N/A             | N/A             | $659,087         |
| HOMES OF RENAISSANCE PRESERVE II                  | New construction               | 2012 | N/A             | N/A             | $1,510,000       |
| JEFFERSON BOULEVARD & FIFTH AVENUE APTS         | New construction               | 2013 | N/A             | N/A             | $674,261         |
| IMPERIAL GARDENS FAMILY APTS                      | New construction               | 2009 | N/A             | N/A             | $1,142,750       |
| HOLLY HEIGHTS I + II APARTMENTS                   | Acquisition and Rehab          | 2016 | N/A             | N/A             | $435,816         |
| HILTON SENIOR APTS                                | New construction               | 2007 | N/A             | N/A             | $242,084         |
| JEFFERSON AVENUE                                 | New construction               | 2020 | N/A             | N/A             | $0               |

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