2022 Affordable Housing Needs Assessment

The Town of Davidson, in collaboration with Onpointe Partners, developed an updated data and context driven Affordable Housing Needs Assessment to actively address the economic and social equity impacts to Davidson’s affordable housing needs. Davidson is one of the most expensive places to live in the state, and it is anticipated that real estate prices and rent will continue to increase in the foreseeable future. 

The 2022 Affordable Housing Needs Assessment is available here.

The Davidson Board of Commissioners accepted the 2022 Affordable Housing Needs Assessment in September 2022. The town board charged the Affordable Housing and Equity Board with creating an Implementation Strategy to address the needs in our community. View the charge here. 

The town’s goal with the affordable housing needs assessment included engaging Davidson’s residents, employees, and the larger community to understand affordable housing needs in our area, how we think about housing affordability in Davidson, and identify the direction our town should work towards with regards to affordable housing. 

Goals

  • The Town of Davidson, in collaboration with OnPointe Partners, will work to develop a data and context driven Davidson Affordable Housing Action Needs Assessment.
  • The Needs Assessment will actively address the economic and social equity impacts to Davidson’s affordable housing needs. 
  • The Affordable Housing Needs Assessment will provide comprehensive and alternative recommendations for producing new and preserving existing affordable homes.
  • The Affordable Housing Needs Assessment will analyze the regulatory options, strategic infrastructure investments, and recommended use of the (payment in lieu) funds.
  • The Affordable Housing Needs Assessment will identify new funding sources and other tools to increase affordable housing.

Background

  • Roughly 3,000 members of Davidson's workforce hold occupations with median earnings below 80% of AMI for a family of four. These occupations include: firefighters, community and social service occupations, and educational instruction and library occupations.
  • Davidson has 262 affordable housing units out of 5,474 total residential units.
  • 4.1% of Davidson owner-occupied households with income of at least $75,000 spend more than 30% of their income on housing.
  • 17.5% of Davidson renter-occupied households with income between $35,000 and $49,999 spend more than 30% of their income on housing.
  • Davidson’s median rent payment has increased by a 5.2% compound annual rate since 2010.

(*The background statistics reflect those gathered prior to developing the 2022 Affordable Housing Needs Assessment.)