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Affordable Housing in Decatur, Arkansas: LIHTC Program's Impact on a Changing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Decatur, Arkansas, maintains a modest inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The LIHTC program has contributed 48 total affordable units, all of which are designated as low-income units. These units represent approximately 3.1% of the city's estimated 1,539 housing units.
The city has received $10,000 in project tax credits from the LIHTC program. With two projects, this translates to an average of $5,000 in federal funding per project. The average federal funding per unit is approximately $208. Decatur holds about 1% of the total state LIHTC funding.
The LIHTC-funded affordable housing in Decatur consists of two projects: Garden Walk Of Decatur Fka Southgate and Southgate Dba Garden Walk Of Decatur. Both projects were completed in 2011, indicating that affordable housing through the LIHTC program has been present in the city for over a decade. The housing units in these LIHTC projects are distributed as follows: 32 two-bedroom units and 16 three-bedroom units. This distribution suggests a focus on accommodating families and larger households.
Decatur has experienced fluctuations in its population over the past decade. The population decreased from 4,313 in 2010 to 4,016 in 2022. Despite this overall decline, there were periods of growth, particularly between 2013 and 2018.
The median income in Decatur has shown a significant upward trend, rising from $46,752 in 2013 to $75,956 in 2022. This substantial increase in median income may indicate changing economic conditions in the city.
Regarding racial distribution, Decatur has maintained a predominantly white population, though there has been a slight decrease from 76% in 2019 to 61% in 2022. The Hispanic population has remained relatively stable at around 14% in recent years. There has been a notable increase in the percentage of individuals identifying as two or more races, rising from 4% in 2019 to 14% in 2022.
Decatur's LIHTC-funded affordable housing inventory provides 48 low-income units, representing about 3.1% of the city's estimated housing stock. The two LIHTC projects, both completed in 2011, focus on providing two and three-bedroom units. Over the past decade, the city has experienced population fluctuations and a significant increase in median income. The racial composition has remained predominantly white, with a recent increase in multi-racial identification. These demographic shifts may influence future affordable housing needs in the city.
