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Affordable Housing in Paris, Arkansas: Single LIHTC Project Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Paris, Arkansas, a small city with a population of 3,921 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. Mountain View Apartments provides 32 low-income units, representing approximately 2.13% of the city's estimated housing stock of 1,502 units.
The LIHTC program has contributed $135,624 in tax credits to Paris for affordable housing development. This amount translates to an average federal funding of $135,624 per project and $4,238 per unit. Paris holds 0.08% of the total state LIHTC funding, indicating a relatively small share of Arkansas's affordable housing investment.
Mountain View Apartments, completed in 2008, is the sole LIHTC-funded project in Paris. This development has provided affordable housing options to the community for over a decade. The project consists of 32 units, including 12 efficiencies, 8 one-bedroom units, and 12 two-bedroom units, offering a variety of housing options for different household sizes.
Paris has experienced a slight decline in population over the past decade, from 4,014 in 2014 to 3,921 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $30,878 in 2014 to $38,154 in 2022. This increase in median income may suggest a reduced need for additional affordable housing units in recent years.
The racial composition of Paris has remained relatively stable, with the white population consistently representing the majority. There has been a slight increase in diversity, with small increases in Asian and Hispanic populations. These demographic shifts, while minor, could potentially influence future affordable housing needs in the city.
Paris, Arkansas has a single LIHTC-funded affordable housing project, Mountain View Apartments, which provides 32 low-income units. This project, completed in 2008, represents about 2.13% of the city's estimated housing inventory. This percentage is relatively low compared to typical affordable housing targets.
The city has experienced a slight population decline and an increase in median income over the past decade, which may have influenced the lack of additional LIHTC projects in recent years. As Paris continues to evolve demographically, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.
