Support Us Button Widget

Checking in on Raleigh’s affordable housing goal

The City of Raleigh has completed just over half of its 10-year goal to create and preserve 5,700 affordable housing units.

An image of an affordable housing complex in Raleigh.

The City of Raleigh has created or preserved 3,028 affordable housing units over the past seven years.

Photo via City of Raleigh

In 2016, the City of Raleigh set a goal to create or preserve 5,700 affordable housing units by 2026. That’s 570 units per year for 10 years. According to the Affordable Housing Annual Report, the City is running slightly behind schedule.

Since the creation of its 10-year affordable housing plan, the City has added or preserved 3,028 units — which is more than 50% of its goal. However, in the last fiscal year (July 1, 2021 to June 30, 2022), just 156 units were created or preserved for low- and moderate-income Raleighites. The City cites the pandemic, supply chain disruption, high material costs, labor shortages, and rising interest rates as the reason for slowed production.

Let’s zoom in to last year’s progress. The City bought an extended-stay hotel, renamed Studios at 2800, to create 116 more affordable units. The City supported 16 first-time homebuyers with their down payments and repaired or rehabilitated 16 homes. Additionally, eight homes were constructed and sold to low-income buyers.

In the upcoming fiscal year (now through June 2023), the City plans to focus on four key areas to advance its affordable housing priorities:

  • Rental housing
  • Homelessness
  • Neighborhood stabilization
  • Public-private partnerships

Currently, there are 2,446 rental units in the pipeline, with five projects already under construction. To reach its goal, the City must construct or preserve 2,672 more units by 2026. Read the full report + find services.

More from RALtoday
Raleigh has plenty of pickleball courts to show off your stuff — keep reading to learn about the sport and where to swing it in the City of Oaks.
Make your voice heard, nominate your favorite local biz and they could win RALtoday’s Best Competition.
The downtown boutique hotel has joined four other destinations in the Raleigh area to be awarded this distinction from MICHELIN Guide experts.
Inspired by “Romeo & Juliet” and Italian films, this new cocktail club at The Exchange comes from the same mind Watts & Ward and Peregrine.
Electric-assist bikes are coming to downtown Raleigh, and they can start and stop just about anywhere. Here’s what you need to know before you hit the road.
Whether you’re a weekend warrior, or the next Tiger Woods, these 18 golf courses around Raleigh are sure to make for a good round.
The store finds vacant retail spaces and signs temporary leases to set up shop leading up to Halloween — but locations can change each year.
Sponsored
To help make your entire process at RDU as smooth as possible, we’ve created a guide that covers everything from gates and parking to details on the airport’s 48 nonstop routes.
Raleigh’s favorite indie rock fest is celebrating 15 years in downtown, and while you need a wristband to see the headliners + many club shows, you can still have plenty of fun without a ticket. Here’s how to enjoy Hopscotch without a wristband.