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Affordable Housing in Maumelle, Arkansas: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Maumelle, Arkansas possesses a distinct LIHTC-funded affordable housing inventory comprising 224 total units, of which 116 are designated as low-income. This affordable housing stock represents approximately 2.16% of the city's estimated 10,371 housing units. The city has received $863,815 in project tax credits through the LIHTC program, distributed across two projects. This equates to an average of $431,907.50 in federal funding per project and $3,856.32 per unit. Maumelle's share of Arkansas's total LIHTC funding stands at 0.54%.
The development of affordable housing in Maumelle spans from 2002 to 2010, with the Gables of Maumelle marking the initial project and Woodbend Apartments being the most recent. This period represents a decade of affordable housing development in the city, with the 2000s experiencing the most significant activity in this sector.
Maumelle's LIHTC-funded housing inventory exhibits a diverse range of unit types. The distribution includes 1 efficiency unit, 20 one-bedroom units, 99 two-bedroom units, and 68 three-bedroom units. This composition indicates an effort to accommodate various household sizes, with a notable emphasis on two-bedroom units.
Maumelle has experienced consistent population growth over the past decade, increasing from 19,299 in 2010 to 27,069 in 2022. The median income has fluctuated but generally remained high, reaching $81,735 in 2022. The city has become slightly more racially diverse, with the white population decreasing from 76% in 2013 to 68% in 2022, while the Black population increased from 15% to 21% during the same period. Despite this growth and demographic shift, no new LIHTC projects have been recorded in the last decade. This absence of recent developments may be attributed to the relatively high median income, potentially indicating reduced demand for low-income housing compared to other areas.
Maumelle's LIHTC-funded affordable housing inventory, while modest in size, provides a significant resource for low-income residents. The city's two projects, completed in the 2000s, offer a range of unit types to accommodate different household sizes. The percentage of affordable housing is relatively low compared to the estimated housing stock. However, it is important to note that other programs may contribute to the city's overall affordable housing inventory. The lack of recent LIHTC developments, combined with the city's high median income and population growth, presents a complex dynamic in Maumelle's housing landscape.
