According to a recent report from RentCafe, competition for rent in the Triangle is on the rise, increasing by 1.2 percent during the peak rental season for 2022. As the fifth most competitive housing market in the state, 12 renters compete for each vacant apartment.
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"Navigating off-campus housing, however, is no small feat. The Editorial Board has been there, so we have put together our best advice for moving out of dorms and into the Chapel Hill community."
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"There's great irony in the housing market of a college town. Generational homeowners supply rundown roach infested properties for an extortionate price while deep pocket developers monopolize residential zoning with large scale complexes that price out the majority."
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The Town of Chapel Hill has allocated $9.1 million towards affordable housing this year. That money will help build over 300 units, many for those earning less than 30 percent of the area's median income.
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“We've created these units just so that they are exactly what somebody would want to live in,” Delores Bailey, the executive director of EMPOWERment, Inc., said. “We've taken and paid a lot of attention to the details.”
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The North Carolina Housing Finance Agency awarded the Chapel Hill affordable housing project Re-imagine Trinity Court a nine percent Low Income Housing Tax Credit worth over $10 million. The award will pay for about 70 percent of the development cost of the project.
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This past Saturday, community members gathered to celebrate the organization's anniversary. The event, called the "Freedom Journey," saw participants walk and bike to historic black landmarks in Chapel Hill.
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"It seems that our Town leadership is willing to sacrifice our natural areas instead of holding developers’ feet to the fire by mandating more affordable units in every new development."
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Nonprofit organization CASA is bringing a new affordable housing development to the area straddling the line between Carrboro and Chapel Hill. The new development will create 48 one- and two-bedroom apartments, with rent prices ranging from $350 to $950 a month.
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The average rent in Chapel Hill has increased by 59 percent since 2017, with current prices averaging $1,776 per month. Sarah Viñas, Chapel Hill's director of affordable housing and community connections, said while this increase impacts everyone in the community, people in moderate and low-income households will be disproportionately affected.
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The second House Us Now rally was held this Sunday as community members gathered to march for affordable housing in the area. The event was sponsored by several organizations, including the Community Empowerment Fund and EmPOWERment, Inc.
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If a project proposed by NEXT is adopted, the Libba Cotten Bikeway will be extended from its current end at Roberson Street to the university's campus, with construction completed by summer 2023.
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CHT aids community members in purchasing homes by buying and selling affordable homes. When a CHT homeowner wishes to move, the home remains within CHT's inventory which allows the house price to stay low indefinitely.
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As Chapel Hill faces a growing housing deficit that places pressure on economic vitality and diversity, the Town is working to secure additional housing. These efforts include creating new regulations for construction and pursuing higher-density housing projects. However, some community organizations have cautioned that this new path brings its own social costs. According to the Town’s 2021 Housing Report, multi-family apartment units, which are home primarily to renters and have little connection to their surroundings, have dominated new constructions since 2010.
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The Town of Chapel Hill announced on Aug. 18 that it will be releasing up to $7.8 million to help fund affordable housing projects in the area. In addition to Town-initiated projects, outside agencies such as nonprofit affordable housing developers or other organizations that work towards affordable housing goals can apply for funding. The Town is using a common funding application and will accept applicants until noon on Sept. 30.
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Orange County piloted its Longtime Homeowner Assistance program last year, which helps established community members pay their property taxes. This year's program, which began at the beginning of this month, will accept applications until Dec. 1.
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On June 30, The landlord and owner of University Gardens, a Chapel Hill affordable housing community, sent eviction notices to some tenants informing them that they needed to leave by the beginning of August. A coalition of local organizations reached an agreement with the owner to extend the residents' notices until the end of September if the coalition balanced the outstanding dues of residents being evicted, covered their rent and provided a $500-per-lease incentive.
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Although inflation hit a 40-year high and many residents' rents and housing costs also increased, salaries have remained the same. Sharron Weaver, who has lived in Northside for 62 years, said she supports any affordable housing initiatives, particularly for the elderly in Northside and Chapel Hill.
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