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Affordable Housing Analysis in Zip Code 72758: A Decade of Demographic Shifts and Static LIHTC Inventory
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 72758 in Rogers, Arkansas, contains 54 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income. This zip code spans 32.13 square miles and had a population of 44,494 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 17,048 units. The LIHTC funded affordable housing represents about 0.32% of the estimated housing units in the zip code.
The LIHTC projects in this zip code have received $153,174 in project tax credits, averaging approximately $2,836 per unit. This zip code holds 0.1% of the total state LIHTC funding. Two LIHTC funded projects exist in this zip code: Autumnwood Point Apartments and Indian Creek Apartments, both completed in 1995. This indicates that affordable housing has been present in this zip code for at least 28 years, with the 1990s seeing the most affordable housing development in this area.
The affordable housing inventory in this zip code consists of 48 one-bedroom units and 6 three-bedroom units. Autumnwood Point Apartments provides 48 low-income units, all one-bedroom apartments. Indian Creek Apartments contributes 6 low-income units, all three-bedroom units.
From 2013 to 2022, the population in this zip code grew from 33,416 to 44,494, a 33% increase. During the same period, the median income rose from $70,744 to $86,666, a 22.5% increase. The racial composition of the zip code has changed over the last decade. The white population decreased from 67% in 2013 to 57% in 2022, while the Hispanic population increased slightly from 27% to 29%. The Asian population grew from 2% to 3%, and the percentage of residents identifying as two or more races increased from 1% to 8%.
Despite the population growth and changes in demographic composition, no new LIHTC projects have been developed in the last decade. This lack of new affordable housing development may be attributed to the rising median income, potentially indicating a reduced need for additional affordable housing units in this particular zip code.
Zip code 72758 in Rogers, Arkansas, has a modest LIHTC funded affordable housing inventory, with 54 low-income units across two projects completed in 1995. These units represent 0.32% of the estimated housing inventory in the zip code. The area has experienced significant population growth and income increases over the past decade, along with changes in racial composition. Despite these demographic shifts, no new LIHTC projects have been developed in recent years, possibly due to the rising median income in the area.
