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Affordable Housing in Mountain View, Arkansas: A Long-Term Commitment Through LIHTC
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mountain View, Arkansas, a small city with a population of 5,956 as of 2022, has implemented the Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The program has funded 180 affordable housing units, including 179 designated as low-income units. This represents approximately 7.9% of the city's estimated housing inventory of 2,282 units.
Mountain View has received $578,835 in project tax credits through the LIHTC program. With five approximate projects, this translates to an average of $115,767 in federal funding per project, or $3,216 per unit. The city holds 0.36% of Arkansas' total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
The LIHTC program in Mountain View spans a 24-year period, from the first project, Mountain View Villas, completed in 1989, to the most recent, Mesa Vista, finished in 2013. The 2010s saw the most activity, with three projects completed during this decade: Mountain Lodge Apartments (2009), Pebble Creek Apartments (2011), and Pioneer Village Apartments (2011).
The LIHTC-funded housing in Mountain View consists of 70 one-bedroom units, 35 three-bedroom units, and 21 two-bedroom units. This distribution suggests an effort to accommodate various household sizes, from individuals to small families.
Mountain View's population has fluctuated over the past decade, peaking at 6,927 in 2018 before declining to 5,956 in 2022. The median income has shown variability, ranging from $25,767 in 2016 to $34,794 in 2019, before settling at $33,840 in 2022. This economic fluctuation may indicate an ongoing need for affordable housing options.
The racial composition of Mountain View has remained predominantly white, though there has been a slight increase in diversity. The percentage of white residents decreased from 98% in 2014 to 92% in 2022, with small increases in Hispanic, Asian, and multi-racial populations. This gradual diversification might influence future affordable housing needs and considerations.
Mountain View's LIHTC-funded affordable housing represents a significant portion of the city's housing inventory. The city has maintained a consistent effort to provide affordable housing over more than two decades, with a particular focus in the 2010s. The distribution of unit sizes suggests an attempt to accommodate various household compositions. While the population has experienced some fluctuation and the median income has shown variability, the ongoing presence of LIHTC projects indicates a continued commitment to addressing affordable housing needs in this small Arkansas community.
