DRAFT Morrisville Affordable Housing Plan, September 23, 2019 version

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DRAFT SEPTEMBER 23, 2019

PART 1 | The Regional Market

REGIONAL FAIR SHARE OF HOME VALUES

Fair Share of Home Values by ZIP Code Across the Region

Places with a Fair Share

Places with LESS than their Fair Share

Places with MORE than their Fair Share

0.00 - 0.49 0.50 - 0.74

0.75 - 1.24 1.25 - 1.99 2.00 - 4.72

With a regional median home value of over $200,000, low-priced houses valued at less than $100,000 are not easy to find. But they can be most easily found on the region’s edges in Franklin, Johnston, Chatham, and Person Counties. These counties also have higher concentrations of mobile homes than do the core counties of Durham, Wake, and Orange. At the next highest price range, the story is similar. Houses valued between $100,000 and $149,999 are disproportionately located on the edges of the region and not in the core. Homeownership for households earning $50,000 or less is difficult under most circumstances, but they will find it especially difficult in the center of the region. The swath of territory extending from Chapel Hill and Carrboro through western Wake County has less than its fair share of houses below $150,000. If a household seeking a home in that range is insistent on living closer to the region’s center, the lack of fair share does not make it impossible. It simply means that there will be fewer affordable houses as a percentage of all houses, and therefore constrained choices.

Home Values <$100,000

Rougemont

Hillsborough

Mebane

Durham

Wake Forest

Carrboro

Chapel Hill

Morrisville

Raleigh

Cary

Pittsboro

Apex

Garner

Fuquay Varina

Home Values $100,000 - $149,999