DRAFT Morrisville Affordable Housing Plan, September 23, 2019 version
DRAFT SEPTEMBER 23, 2019
PART 2 | The Morrisville Market
MORRISVILLE AFFORDABILITY FOR RENTERS
Gap between Renter Units and Renter Households by Income, 2017
Lower-income households unable to find low-cost units must pay more than they can afford
Renters
Income Range
Affordable Units
249
Gap analysis for rental units in Morrisville reveals the following:
-196 Deficit
Less than $20,000
53
There is a deficit of rental units affordable to households earning less than $20,000 per year and households earning $50,000 or more. There is an excess of units available to households in the middle, earning $20,000-$49,999. Households earning less than $20,000 can only afford $500 per month in rent, but the private sector struggles to provide such low-cost units. It is no surprise then, that there are not enough units in that price range. For higher-income households earning $75,000 or more, there are not enough rental units available that will absorb 30% of their gross income.
499
$20,000-$34,999
+282 Surplus
781
470
+2,176 Surplus
$35,000-$49,999
2,646
936
-243 Deficit
693
$50,000-$74,999
2,361
342 -2,019 Deficit
$75,000+
Source: czb analysis of 2013-2017 American Community Survey data
Upper-income households get a relative bargain by paying less than they could afford.
Affordable Housing Plan for Morrisville, NC | 2019
36
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