1 in 4 Wake County Households Can’t Afford Their Home: Here’s How to Help

Everyone deserves a safe place to call home, but Wake County residents face a severe shortage of affordable housing options.

While the county has allocated funds for new housing developments in recent years, the supply cannot meet the demand, perpetuating a housing deficit. Many residents also spend more of their income on mortgages or rent.

This article explores the critical issues faced by thousands of Wake County homeowners and renters and provides tips for creating sustainable homes.

According to data compiled for our company by Claritas, the median income in the 27513 Cary zip code is $99,585, and the average home value is $489,271. Interestingly, while the median age is 40 in this zip code, more than 60% of the demographic includes retirees with a range of funds to spend.

As these communities continue to grow, so does the need for housing, with projected demand topping 175K units in the next 10 years.

A news release from Wake County provides statistics including estimated homelessness at more than 900 people and a deficit of nearly 66,000 housing units despite creating or preserving more than 3,500 homes in the last several years.

Not only does resident age factor into these issues but so do the age and condition of a structure.

For example, many homes in Cary were built in the 1990s, around 1997. While this may not seem very old to some people, aging homes can pose significant problems depending on their upkeep.

Homes built in 1997 or earlier, which constitute a significant portion of the affordable housing stock, are more prone to foundation issues caused by aging materials and shifting soil.

Affordable housing often relies on older structures remaining habitable. When foundation issues go unaddressed, they can lead to further structural damage, making homes unsafe or too costly to repair. This factor reduces the availability of affordable housing.

• Foundation wall cracks
• Drywall cracks and nail pops
• Sticking windows and doors
• Uneven floors

• High energy bills
• Wood rot
• Mold growth
• Water in the basement

Several factors can cause this damage, but most trace back to your property’s soil. Many areas of North Carolina, including Cary, contain sandy loam and clay loam soil. While sand easily erodes, clay soil is prone to expansion and contraction, which produces hydrostatic pressure.

When hydrostatic pressure is applied, foundation walls begin to crack, bow inward, and leak. This pressure compromises structural integrity and results in further damage, such as flooding and mold in crawl spaces or basements. These areas below your home can suffer from excessive humidity, which increases energy usage and utility bills.

Soil also settles over time, and the foundation follows suit. Foundation settlement causes general unevenness in your home, including sagging floors and inoperable doors and windows.

Invest in Moisture Management

Controlling moisture in your home with basement crawl space encapsulation, whether it’s with a crawl space moisture barrier or basement wall vapor barrier, helps tremendously. These measures prevent excessive moisture buildup, which is a major culprit of home damage like rot and mold. Crawl space encapsulation also aids in affordability by creating an energy-efficient home and lowering utility expenses.

Promptly Repair Your Home

If your home has foundation cracks or other damage, repair them before they worsen and cause additional problems. Foundation repair can improve energy efficiency by preventing air and water infiltration through cracks and gaps.

Remodel Your Basement

Homes with basements have many uses, including extra living space. Once this area is properly waterproofed, finish it to create a guest room available to renters or roommates. Renting out a vacant space like this may not solve the widespread housing crisis, but it’s a small step that gives someone a place to live.

While repairing your foundation and waterproofing your home have immediate personal benefits, they also contribute to your community’s well-being. A safer and healthier home translates to a robust neighborhood.

Homeowners throughout Wake County and North Carolina trust Tar Heel Basement System’s 20 years of experience with improving their living environments. Our customizable solutions, backed by longtime warranties, protect your home and investment by preventing costly future repairs. Learn how to safeguard your home today by contacting us to schedule a free inspection!