Affordable Housing Strategic Vision: Beaufort County, NC

Abstract

The Affordable Workforce Housing Strategic Vision Project for Beaufort County, North Carolina, addresses the region's critical housing affordability dilemma. With a median income of $51,894 and typical housing costs of $770 for rent and $1,315 for a mortgage, a sizable share of the population is burdened by housing expenses. Individuals earning less than $52,596 are unable to afford a mortgage, while those earning $30,792 or less experience considerable challenges in obtaining affordable rental options. These findings highlight the urgent need for targeted actions to close the housing affordability gap in Beaufort County. Furthermore, the population of Beaufort County is declining as older generations die out and young cannot afford to reside in the county. In the past decade, Beaufort County has seen a population decrease of 6.5 percent. This demographic transition emphasizes the fundamental need of tackling housing affordability in order to attract and retain a diverse workforce and ensure the county's long-term economic vitality.