The Housing Crisis in the Triangle 

There is a shortage of attainable housing with three contributing factors:

Increased Demand

Population growth outpaces attainable housing stock, driving prices upward

Inventory Depletion

Decreasing number of attainable options due to rapid, luxury construction and redevelopment 

Displacement

Lower-income households can not afford to live in their historic neighborhoods

Finding a home in the Triangle is nearly impossible for low-income renters and first-time homebuyers.

3 Jobs

At minimum wage to achieve the Triangle’s living wage of

$19.73/hour

4%

Of available rental units in the Triangle are considered “affordable” by the local housing authorities

30%

Rent to Income ratio is now at a 20 year high and is up 1.5% from 2022 with an estimated 10,000 more rentals needed

Community and nonprofit leaders face many challenges when seeking attainable housing placements for the homeless.

6,000

Income based properties are set to expire in the next decade

850

“Affordable” housing units will be lost in Wake and Durham counties every year as the housing market continues to grow

10,000

Total rental units in Wake County that are considered “affordable” and not subsidized

Non-profits have efficiencies in helping clients get on their feet after a crisis, but struggle to secure attainable housing during the behavioral Change and Independence phases.

1

day 0

phase:

Crisis

A traumatic life event can cause toxic behavior and may need third-party intervention

2

day 1 – day 30

phase:

Rehabilitation

Immediate steps to remove individual from crisis and treat via a formal rehabilitation plan

3

day 60 – day 90

phase:

Development

Individual works to establish healthy habits and goals under case worker supervision, attempting to prevent relapse.

4

month 12 – month 24

phase:

Change

Individual shows increased levels of autonomy, with an emphasis on job/financial security to ensure maintenance of long-term housing.

5

month 24 on

phase:

Independence

Individual establishes consistent employment, good credit, and record of maintaining long-term housing. May still work with social worker.