Leadership 2022, Session 8, 101 on Economic and Community Development

Economic Development
Community Development
Transportation

Affordable Housing
Transportation

Affordable Housing
Regional Mobility

Business and
Government Revenue

Orange
County Total
Value Per
Acre
Source: Urban 3
Click to add text

2020 Orange
County Land
Distribution
Total: 398 square miles
Source: American Community Survey 5 Year Estimates, 2015-2019
Mebane
2.5 sq mi (0.6%)
Carrboro
6.5 sq mi (1.6%)
Chapel Hill
20.1 sq mi
(5%)
Hillsborough
5.7 sq mi
(1.4%)
Unincorporated Orange
362.8 sq mi (91%)

Development, Value, and
Density

Economic Impact of
Development Study
Report prepared by Joe Minicozzi, Urban3

Carrboro Plaza - $801,591/acre

Timberlyne Shopping Center - $876,209/acre

$2,095,503/acre
$9,315,351/acre

Shelton Station - $9.3 million/acre

137 Franklin (CVS Plaza) - $36.8 million/acre

The Berkshire Apartments - $27.3 million/acre

Value of Density
• 137 Franklin (CVS Plaza) $24.3 million $36.8 million/acre
• The Berkshire Apartments $80.1 million $27.3 million/acre
• The Gwendolyn $13.8 million $12.5 million/acre
• Shelton Station $16.2 million $ 9.3 million/acre
• Rams Plaza $20.5 million $ 1.7 million/acre
• Timberlyne Shopping Center $11.3 million $ 0.9 million/acre
• Carrboro Plaza $13.6 million $ 0.8 million/acre

Orange County Assessed Value Grows to $24B
Orange County assessed value (in $millions) change over time (2018 & 2019 not available at time of printing)
Source: Orange County Tax Assessor
$2,511 $2,933 $4,069
$1,226 $1,541
$2,117
$13,494
$16,203
$18,022
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2017 2020 2021
Commercial Apartments Residential

Orange County Now 74% Residential; Commercial
Grows to 17%
Orange County assessed value percentages by type 2017-2021 (2018 & 2019 not available at time of
printing)
15%
14%
17%
7%
7%
9%
78%
78%
74%
2017
2020
2021
Commercial Apartments Residential

2021 Orange
County Commercial
Building Value
(in millions)
Total: $2,753,619,900
Apartments,
$1,221
Hotel,
$171
Industrial,
$260
Office, $766
Restaurant, $48
Retail, $287

2021 Carrboro
Commercial
Building Value
(in millions)
Total: $284,050,200
Apartments, $167
Hotel,
$19
Industrial, $11
Office, $52
Restaurant, $4
Retail, $31

2021 Chapel Hill
Commercial
Building Value
(in millions)
Total: $1,891,293,000
Apartments,
$928
Hotel,
$141
Industrial, $2
Office, $589
Restaurant, $32 Retail, $198

2021
Hillsborough
Commercial
Building Value
(in millions)
Total: $295,854,100
Apartments,
$84
Hotel, $9
Industrial,
$63
Office, $91
Restaurant, $6 Retail, $43

2021 North Carolina Municipal Tax Rates
2020-21 city and town property tax rates
Source: NC Department of Revenue
Huntersville, 0.240
Cary, 0.350
Raleigh, 0.355
Apex, 0.380
Durham, 0.532
Chapel Hill, 0.544
Carrboro, 0.599
Hillsborough, 0.620
Salisbury, 0.720
Huntersville
Charlotte
Cary
Raleigh
Morrisville
Apex
Asheville
Concord
Greenville
Wilmington
Fayetteville
Gastonia
Durham
Chapel Hill
Wilson
Hickory
Burlington
Carrboro
Monroe
Hillsborough
Kannapolis
Winston-Salem
Jacksonville
High Point
Goldsboro
Greensboro
Rocky Mount
Salisbury

Local Jurisdictions Have Highest Combined Property Tax Rate
2020-21 combined all jurisdictions property tax rates (municipal + county + school tax rates)
Hickory, .5875
Cary, .9500
Raleigh, .9552
Apex, .9800
Durham, 1.2439
Hillsborough, 1.4879
Chapel Hill, 1.6137
Carrboro, 1.6691
Hickory
Huntersville
Cary
Raleigh
Asheville
Morrisville
Charlotte
Apex
Wilmington
Greenville
Concord
Durham
Burlington
Fayetteville
Wilson
Goldsboro
Jacksonville
Monroe
Gastonia
Rocky Mount
Kannapolis
Salisbury
High Point
Winston-Salem
Greensboro
Hillsborough
Chapel Hill
Carrboro

Chapel Hill Has Highest Average Residential Property Tax Bill
Combined local property tax rates (2020-21) assessed on local median home value, May 2020
Hickory, $1,247
Raleigh, $3,349
Durham, $3,880
Cary, $4,327
Apex, $4,370 Hillsborough, $5,243
Carrboro, $5,787
Chapel Hill, $7,549
Hickory
Rocky Mount
Wilson
Greenville
Burlington
Fayetteville
Goldsboro
Jacksonville
High Point
Winston-Salem
Salisbury
Greensboro
Kannapolis
Gastonia
Charlotte
Wilmington
Raleigh
Huntersville
Asheville
Monroe
Concord
Morrisville
Durham
Cary
Apex
Hillsborough
Carrboro
Chapel Hill
Source: NC Department of Revenue; Zillow

Orange County Top 25 Employers
Source: Quarterly Census of Employment and Wages (QCEW) via NC Department of Commerce
1. UNC Chapel Hill
2. UNC Health Care System
3. NC Health (UNC Health)
4. Chapel Hill-Carrboro City Schools
5. Local Government (Orange County
Government)
6. Orange County Schools
7. Town Of Chapel Hill
8. Wal-Mart Associates
9. Eurosport
10. Harris Teeter
11. Food Lion
12. United Parcel Service
13. Wellspring Grocery (Whole Foods)
14. AKG Of America
15. PHE Inc
16. Summit Design & Engineering Service
17. Carol Woods Retirement Community
18. Performance Automall
19. Weaver Street Market
20. Westrock Services LLC
21. Noom Inc.
22. U S Postal Service
23. Residential Services
24. Piedmont Health Services
25. Strata Solar
As listed by the NC Dept of Commerce in 2019. Some are no longer located in Orange County.
Chamber staff has added additional descriptions (in parentheses)

Top 10 Orange County Industries by Number of Enterprises
Organized by NAICS code
160
175
203
244
328
340
342
420
571
928
Information
Educational Services
Real Estate and Rental and Leasing
Finance and Insurance
Construction
Retail Trade
Accommodation and Food Services
Health Care and Social Assistance
Other Services (except Public Administration)
Professional, Scientific, and Technical Services

Top 10 Orange County Industries by Average Employment
1,083
1,179
1,810
1,982
2,615
3,755
4,666
6,353
18,805
21,008
Information
Construction
Public Administration
Retail Trade

Top 10 Orange County Industries by Total Wages (in millions)
$91
$96
$116
$137
$148
$178
$224
$364
$1,136
$1,650
Construction
Public Administration
Information
Retail Trade

Orange County
“Employer Firms”
(firms with employees)

Estimated Sales,
Value of Shipments,
or Revenue of
Orange County
Employer
Firms
Total = $7.8 billion
Carrboro,
$655 million
Chapel Hill, $3.84 billion
Hillsborough,
$1.48 billion
Rest of Orange,
$1.8 billion
Source: Census Bureau | 2017 Annual Business Survey

Estimated
Annual Payroll of Employer
Firms
Total = $1.6 billion
Carrboro,
$147
million
Chapel Hill,
$905
million
Hillsborough,
$268 million
Rest of Orange,
$276 million

Minority-Owned Employers Make Up 11-18% of All Firms
Estimated Minority-Owned Firms as a Percent of All Firms, Percent of Total Sales, and Percent of Total
Payroll
11%
12% 12%
18%
11% 11%
15%
12%
Chapel Hill Orange County Chatham
County
Durham
County
Alamance
County
Johnston
County
Wake County North Carolina

Estimated Minority-Owned Employer Firms
Estimated Number of Minority-Owned Firms With Employees By County
349
155
1,051
262 318
Orange County Chatham County Durham County Alamance County Johnston County

Chamber 50
Small Business Index

And Where Does Sales Tax Go?
Sales Tax Distribution

2020-21 Orange County Tax Disbursements
County sales tax revenue distribution percentages and totals
$35,452,374
60%
$5,348,490
9.1%
$15,500,240
26%
$8,246
0.01%
$1,985,276
3.4%
$576,354
1.0%
Orange County Carrboro Chapel Hill Durham Hillsborough Mebane

Since 2010, Orange Adds Fewest New Homes in the Region
New for-sale housing units built since 2010
2,307
3,861
9,130
44,804
Orange
Chatham
Durham
Wake
Source: Triangle MLS and Tri Local Realty

4% of Orange County Total Housing Stock Has Been
Built Since 2010, 13% in Chatham
Percent of available housing units built since 2010
4.1%
13.4%
7.6%
12.0%
Orange
Chatham
Durham
Wake

37% of Orange; 20% of Chatham Homes Sold for Less Than
$300,000
Percent of 2020 home sales by price
8%
11%
13%
9%
11%
26%
16%
34%
22%
15%
18%
13%
39%
34%
28%
39%
21%
14%
25%
5%
Chatham Co. (All)
Orange Co. (All)
CHCCS District
Orange Co (not
CHCCS)
<$200,000 $200,000-$299,999 $300,000-$399,999 $400,000-$600,000 $600,000 or more

799 Homes in Orange; 271 in Chatham Sold for Less Than
$300,000 in 2020
2020 number of homes sold by price
112
237
129
108
159
562
162
400
316
334
180
154
566
742
279
463
311
311
251
60
0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250
Chatham Co.(All)
Orange Co. (All)
CHCCS District
Orange Co. (not
CHCCS)
<$200,000 $200,000-$299,999 $300,000-$399,999 $400,000-$600,000 $600,000 or more

Orange Home Sales Price Up $100,000 (30%) From 2019
Orange County median home sales price, 2011- July 2021
$262,250
$265,000
$274,450
$267,000
$290,000
$300,000
$315,000
$315,000
$315,000
$327,750
$415,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Jan-July 2021

Chatham Home Sales Price Up $100,000 (25%) From 2019
Chatham County median home price, 2011-July 2021
$274,990
$277,700
$303,350
$317,373
$335,000
$352,140
$369,000
$388,000
$399,000
$439,775
$499,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Jan-July 2021

Chatham, Orange, and CHCCS District Home Prices
Increase $100k since 2019
Median residential closing price, 2010-July 2021
$388,000
$499,000
$315,000
$415,000
$377,000
$489,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
Chatham Orange (all) CHCCS District

Share of renter-occupied households 2015-2019
Over Half of Chapel Hill & Carrboro Residents Rent
37%
24%
35%
46%
36% 35%
50%
57%
35%
Orange Chatham Alamance Durham Wake North
Carolina
Chapel Hill Carrboro Hillsborough
Source: US Census Bureau American Community Survey

Chapel Hill Leads with a Median Rent of $1,191
Median rent 2015-2019
$1,191
$1,150
$1,093
$1,078
$1,067
$1,025
$907
$845
$813
Chapel Hill
Wake
Orange
Carrboro
Durham
Hillsborough
North Carolina
Chatham
Alamance

Percent of Cost-Burdened Households in Orange
Exceeds 50%
Percent of households ‘cost-burdened’ spending greater than 30% of household income on rent, 2015-2019
51%
45%
49% 49%
43%
47%
57% 55%
52%
Orange Chatham Alamance Durham Wake North
Carolina
Chapel Hill Carrboro Hillsborough

2021 Local and State Fair Market Rent
North
Carolina
Durham-Chapel Hill
HMFA
(Orange, Durham, Chatham,
& Person Counties)
Raleigh MSA
Alamance
County
Zero Bedroom $786 $972 $1,013 $636
One Bedroom $811 $974 $1,053 $682
Two Bedroom $960 $1,134 $1,200 $885
Three Bedroom $1,269 $1,493 $1,509 $1,126
Four Bedroom $1,556 $1,715 $1,950 $1,201
Source: National Low Income Housing Coalition, Out of Reach Report 2021

Orange County 2021 Housing Wage is $18.73 for a
1-Bedroom Apartment (was $17.35 in 2020)
Housing wage: hourly wages needed to afford Fair Market Rent, 2021
North
Carolina
Durham-Chapel Hill
HMFA
& Person Counties)
Raleigh MSA
Alamance
County
Zero Bedroom $15.12 $18.69 $19.48 $12.23
One Bedroom $15.60 $18.73 $20.25 $13.12
Two Bedroom $18.46 $21.81 $23.08 $17.02
Three Bedroom $24.41 $28.71 $29.02 $21.65
Four Bedroom $29.92 $32.98 $37.50 $23.10

$45,360 Income Needed to Afford 2-Bedroom Fair Market
Rent (was $42,200 in 2020)
Annual salary needed to afford Fair Market Rent, 2021
North
Carolina
Durham-Chapel Hill
HMFA
& Person Counties)
Raleigh MSA
Alamance
County
Zero Bedroom $31,453 $38,880 $40,520 $25,440
One Bedroom $32,439 $38,960 $42,120 $27,280
Two Bedroom $38,400 $45,360 $48,000 $35,400
Three Bedroom $50,774 $59,720 $60,360 $45,040
Four Bedroom $62,237 $68,600 $78,000 $48,040

Create 1,500 new affordable
housing units by 2026

assumptions
Affordability
• An individual spending no more than
30% of their pre-tax income on housing
Qualification
• People making up to 120% AMI (with no
more than 300 units for folks earning
more than 80% AMI)
Location
• Within all of Orange County and a 20
minute commute radius of UNC

Strategies
Generate more funds to create affordable housing
Dedicate available land to build affordable housing
Make affordable housing easier to build
Increase employer-sponsored and employer-supported housing
Increase acceptance of housing choice (section 8) vouchers
Increase availability of affordable housing

Worker Inflow, Outflow, and
Commuting

Majority of Orange and Chatham Residents Work Outside
the County They Live In
Percent of residents commuting outside of the county for work, 2018
Source: U.S. Census Bureau LODES (OnTheMap)
66% 81%
of Orange County
Residents Commute Out
of Chatham County
Residents Commute Out

Most County Jobs Filled by In-Commuters
Percent of county jobs filled by in-commuters, 2018
Source: U.S. Census Bureau LODES (OnTheMap)
71%
of Orange County Jobs
Filled by In-Commuters
63%
of Chatham County
Jobs Filled by In-
Commuters

Annual Chapel Hill Transit Ridership (in millions)
FY2007-FY2021
Source: Chapel Hill Transit
6.0
6.4
7.2 7.0 7.0 6.9 6.9 6.9 6.7
6.3 6.2
6.6
7.0
5.6
1.6
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21

Annual GoTriangle Ridership (in millions)
FY2007-FY2021
Source: GoTriangle
0.9 0.9
1.1 1.1
1.3
1.6
1.8 1.8 1.8 1.8 1.7 1.6 1.7
1.4
1.2
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21

Pandemic Restrictions, University Operations, and
Changing Work Habits Have Big Impact on Ridership
Monthly Ridership Totals January 2019 through June 2021
Source: Chapel Hill Transit; GoTriangle
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
GoTriangle CH Transit

And that is all I have to say
about that

Leadership 2022, Session 8, 101 on Economic and Community Development

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Leadership 2022, Session 8, 101 on Economic and Community Development