# Wake County

### Summary

35.7% share of renter households  
44.9% share of low-income households  
43.5% share of rent-burdened households

### Renter population data

#### Renters vs homeowners

| Households                | % share  |
|--------------------------|----------|
| Renter households        | 150,719  |
| Homeowner households     | 271,425  |
| Total households         | 422,144  |

#### Low-income renter households

| Households | % share  |
|------------|----------|
| Extremely low-income (≤30% AMI) | 20,950 | 13.9%  |
| Very low-income (31-50% AMI)   | 21,903 | 14.5%  |
| Low-income (51-80% AMI)        | 24,854 | 16.5%  |
| All low-income households (<80% AMI) | 67,707 | 44.9%  |

#### Rent-burdened households

| Share of income spent on rent     | Households | % share  |
|-----------------------------------|------------|----------|
| Moderately rent-burdened (30.0–34.9%) | 35,985     | 23.9%  |
| 35.0–39.9%                       | 12,840     | 8.5%   |
| 40.0-49.9%                       | 13,248     | 8.8%   |
| Severely rent-burdened (≥50.0%)  | 29,522     | 19.6%  |
| All rent-burdened households      | 65,507     | 43.5%  |

### Affordable housing shortage

#### Rent vs median household income

| Year | Median household income | Median rent | Increase (%) |
|------|------------------------|-------------|--------------|
| 2010 | $35,057                | $335        | -            |
| 2021 | $53,128                | $1,132      | 51.5%        |

#### Affordable housing stock

| Units                 | Supply (current stock) | Demand (total units needed) | Shortage  |
|----------------------|------------------------|-----------------------------|-----------|
|                      | 4,051                  | 32,901                      | 29,226    |

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

| Name                               | Type                           | Year  | Zipcode | Number of units | Income ceiling | LIHTC allocation | Amount   |
|------------------------------------|--------------------------------|-------|---------|----------------|----------------|------------------|----------|
| HIGHBRIDGE OVERLOOK                | New construction               | 2014  | N/A     | 154            | 60% AMI       | $1,804,887      |
| IRVINGTON FAMILY APTS              | New construction               | 2007  | N/A     | 99             | 60% AMI       | $1,378,252      |
| HILLTOP VILLAGE                    | New construction - Acquisition and Rehab | 2012 | N/A   | 200            | 60% AMI       | $504,385        |
| HUNTINGTON RESERVE                 | NA                             | 2006  | N/A     | 168            | 60% AMI       | $424,046        |
| HOLT + HAMILTON FAMILY APARTMENTS  | New construction               | 2016  | N/A     | 61             | 60% AMI       | $1,557,010      |
| INTERVALE GARDENS LLC              | New construction               | 2008  | N/A     | 65             | 60% AMI       | $659,087        |
| HOMES OF RENAISSANCE PRESERVE II   | New construction               | 2012  | N/A     | 88             | 60% AMI       | $1,510,000      |
| JEFFERSON BOULEVARD & FIFTH AVENUE APTS | New construction         | 2013  | N/A     | 39             | 60% AMI       | $674,261        |