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Affordable Housing in Downtown Little Rock: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
The Downtown Neighborhood of Little Rock, Arkansas, contains a significant amount of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 134 units in LIHTC-funded projects, with 112 designated as low-income units. Based on the 2022 population of 4,784 and the national average household size, the estimated housing units in the neighborhood are approximately 1,833. LIHTC-funded affordable housing comprises about 7.3% of the estimated housing inventory, contributing to the neighborhood's affordable housing supply.
The LIHTC program has made substantial investments in this neighborhood, with project tax credits totaling $864,106. This equates to an average federal funding of approximately $6,448 per unit in LIHTC-funded projects. Affordable housing development in the area has occurred over several decades, with the first LIHTC project, Cumberland Apts, completed in 1989, and the most recent, Eastside Lofts Phase II, in 2007. This indicates an 18-year span of affordable housing development in the area.
The 1990s and early 2000s were particularly active for affordable housing development in this neighborhood. Notable projects include Mahlon Martin Apts (formerly South Main Apts) completed in 1996, Trinity Court Place in 1999, and Eastside Lofts Apts Phase I in 2001. The LIHTC-funded housing in this neighborhood offers a range of unit types. Out of the 134 total units, there are 2 efficiencies, 82 one-bedroom units, 18 two-bedroom units, and 5 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
The neighborhood has experienced demographic changes over the last decade. The population has increased from 3,914 in 2017 to 4,784 in 2022, suggesting a growing demand for housing. Median income has also risen significantly, from $31,880 in 2017 to $41,622 in 2022, which may affect the need for affordable housing.
Racial demographics have remained relatively stable, with a slight decrease in the Black population (from 55% in 2017 to 52% in 2022) and an increase in the Hispanic population (from 3% to 9% over the same period). The White population has remained relatively constant at around 36-38%.
The Downtown Neighborhood of Little Rock has a notable presence of LIHTC-funded affordable housing, covering about 7.3% of the estimated housing inventory. The area has seen consistent development of affordable housing from 1989 to 2007, with a focus on smaller units. While the neighborhood has experienced population growth and increased median income over the past decade, the racial composition has remained relatively stable with some shifts in the Black and Hispanic populations. These demographic trends may influence future affordable housing needs in the area.
