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Affordable Housing Impact in Mardis, Jonesboro: Three Decades of LIHTC Presence
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Mardis neighborhood in Jonesboro, Arkansas, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 156 total affordable units, all designated as low-income units. Based on the 2022 population of 1,037 and the national average household size, the estimated number of housing units in the neighborhood is approximately 397. LIHTC funded affordable housing accounts for about 39.3% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing needs.
LIHTC funded affordable housing has been present in Mardis since the early 1990s. The initial project, Park Lake Apartments, was completed in 1992, followed by Gladiola Estates Apartments in 1994. This indicates that affordable housing has been an integral part of the neighborhood for about three decades. The 1990s witnessed the most LIHTC activity in Mardis, with both projects being completed during this period.
The inventory breakdown reveals that Park Lake Apartments is the larger of the two projects, offering 144 units, while Gladiola Estates Apartments provides 12 units. The housing stock consists of one-bedroom and two-bedroom units, with no efficiencies or larger units reported. Specifically, there are 52 one-bedroom units and 104 two-bedroom units across both projects.
Mardis has experienced demographic shifts over the past decade. The population has fluctuated, with a notable increase from 779 in 2020 to 1,037 in 2022. Median income has shown a general downward trend, decreasing from $43,883 in 2013 to $34,989 in 2022, with some fluctuations in between. This decline in median income may indicate an increased need for affordable housing options in the neighborhood.
Racial demographics have also changed. The percentage of white residents has decreased from 79% in 2013 to 63% in 2022, while the percentage of Black residents has increased from 16% to 34% during the same period. The neighborhood has also seen a slight increase in residents identifying as two or more races.
The Mardis neighborhood in Jonesboro, Arkansas, has a significant LIHTC funded affordable housing presence, with 156 units covering nearly 40% of the estimated housing inventory. The affordable housing stock, developed in the early 1990s, consists of one-bedroom and two-bedroom units across two projects. Despite no new LIHTC projects in recent years, demographic trends such as declining median income and population growth suggest a continued need for affordable housing options. The racial composition of the neighborhood has also become more diverse over the past decade, which may influence future housing needs and policies.
