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Affordable Housing in Chicot West I-30 So.: LIHTC Impact on a Changing 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 Chicot West I-30 So. neighborhood in Little Rock, Arkansas, contains 150 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 100 designated as low-income units. Based on the 2022 population of 16,245 and the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 6,224. LIHTC-funded affordable housing units represent about 2.4% of the estimated housing inventory in the neighborhood.
The LIHTC projects in this neighborhood have received $1,201,000 in tax credits, averaging $8,007 in federal funding per unit. LIHTC-funded affordable housing development occurred from 2011 to 2012, indicating a recent introduction of these projects. Three LIHTC projects were completed: Valley Estates Of Mabelvale II and Orchards At Mabelvale in 2011, followed by Orchards At Mabelvale II in 2012. This concentration of development in the early 2010s suggests a focused effort to increase affordable housing options during this period.
The LIHTC-funded projects offer a diverse range of unit types: 2 efficiencies, 38 one-bedroom units, 86 two-bedroom units, and 24 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with an emphasis on smaller families or individuals.
Over the past decade, the neighborhood has experienced demographic shifts. The population increased from 13,872 in 2020 to 16,245 in 2022. Median income rose from $51,238 in 2017 to $56,839 in 2022, indicating a general trend of economic improvement. Racial demographics have also shifted. The Black population percentage increased from 34% in 2020 to 45% in 2022, while the White population decreased from 44% to 36% during the same period. The Hispanic population has remained relatively stable, fluctuating between 16-19% in recent years.
These demographic changes, particularly the population growth and income improvements, may have influenced the need for affordable housing in the area. The LIHTC projects, completed in 2011 and 2012, appear to have been well-timed to address the growing population and potential housing needs of the diversifying community.
The Chicot West I-30 So. neighborhood has a modest LIHTC-funded affordable housing presence, with 150 units representing about 2.4% of the estimated housing inventory. The projects, completed in the early 2010s, received significant federal funding and offer a mix of unit types to accommodate various household sizes. The neighborhood has experienced population growth, income improvements, and racial demographic shifts over the past decade, which may have influenced the affordable housing landscape. While the LIHTC projects contribute to the area's affordable housing stock, they represent a small portion of the overall estimated housing units in the neighborhood.
