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Affordable Housing in Central High: LIHTC's Long-term Impact on Little Rock Neighborhood
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 Central High neighborhood in Little Rock, Arkansas exhibits a significant affordable housing inventory funded through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood contains 212 units in LIHTC-funded projects, with 203 designated as low-income units. Based on the 2022 population of 2,056 and using the national average household size, the estimated housing inventory is approximately 788 units. LIHTC-funded affordable housing comprises about 26.9% of the neighborhood's estimated housing stock, indicating a substantial presence of affordable options in the area.
The LIHTC program has provided $300,000 in tax credits for affordable housing projects in the Central High neighborhood. This equates to an average federal funding of approximately $1,415 per unit when divided by the total number of LIHTC-funded units. The neighborhood's affordable housing inventory includes 1 efficiency unit, 88 one-bedroom units, and 24 two-bedroom units, offering a range of options for different household sizes.
The earliest known LIHTC project in the neighborhood is Westside Lofts, completed in 2003. This project contributed 43 units to the affordable housing stock, with 34 designated as low-income units. The presence of LIHTC-funded housing for nearly two decades demonstrates a long-term commitment to affordable housing in the Central High neighborhood.
Over the past decade, the Central High neighborhood has experienced fluctuations in population, with a recent increase to 2,056 residents in 2022. The median income has shown an overall upward trend, rising from $25,188 in 2013 to $37,806 in 2022, suggesting improving economic conditions for residents.
The racial composition of the neighborhood has remained relatively stable, with a predominantly Black population. In 2022, 87% of residents identified as Black, 8% as White, 3% as Hispanic, and small percentages of other racial groups. This demographic stability may indicate a consistent need for affordable housing options in the neighborhood.
The Central High neighborhood in Little Rock demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With over a quarter of its estimated housing stock dedicated to affordable units, the neighborhood provides important housing options for low-income residents. The long-term presence of LIHTC projects, dating back to at least 2003, shows an ongoing effort to maintain and expand affordable housing opportunities. As the neighborhood continues to evolve with slight increases in population and median income, the existing affordable housing stock plays a crucial role in maintaining community stability and diversity.
