Chapel Hill City Council releases its 2022 Annual Affordable Housing Report

Members of the Affordable Housing and Community Connections Department presented the Affordable Housing Annual Report for the fiscal year 2022 at the Chapel Hill City Council meeting on September 28.

Sarah Viñas, Chapel Hill’s director of affordable housing and community connections, said the city has allocated $2.5 million to community partners to improve affordable housing projects.

The city also provided 492 households with Emergency Housing Assistance: a countywide program that provides financial assistance to Orange County residents experiencing a housing crisis.

The City of Chapel Hill defines housing as affordable if housing costs do not exceed 30% of a household’s income. Current prices average $1,776 per month. This leaves 58% of renter households burdened with costs.

Data from Triangle MLS, Inc. revealed that 87% of home sales in the area are unaffordable – over $220,000 – for households with incomes below $75,000, which is 80% of the median income. of the region.

@madelynvanmeter

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