Affordable Housing in Pine Bluff, Arkansas: A Longitudinal Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Pine Bluff, Arkansas, located in the southeast region of the state, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has produced 576 total units, with 465 designated as low-income units. Based on the estimated 17,687 housing units in Pine Bluff, LIHTC-funded affordable housing comprises approximately 3.26% of the city's housing inventory.
Pine Bluff has received $1,847,988 in project tax credits for affordable housing through the LIHTC program. With approximately 11 projects, this translates to an average of $167,999 in federal funding per project. The average federal funding per unit is $3,208, considering the total 576 units in LIHTC-funded projects. Pine Bluff accounts for 1.16% of the total state LIHTC funding, indicating its role in Arkansas's affordable housing efforts.
The city's involvement with LIHTC-funded affordable housing began in 1992 with the Chestnut Street Housing Development. The most recent project, Pine Bluff RAD Conversion, was completed in 2018, demonstrating over 25 years of affordable housing development in the city. The 2000s experienced the most activity in affordable housing construction, with notable projects such as Whispering Knoll Assisted Living and Peaks At Pine Bluff both completed in 2005.
Pine Bluff's LIHTC-funded housing inventory includes various unit types. Of the 576 total units, there are 68 efficiencies, 138 one-bedroom units, 148 two-bedroom units, 132 three-bedroom units, and 43 four-bedroom units. This distribution accommodates various household sizes and needs within the low-income population. One project, Parkview Apts - Pine Bluff, completed in 1994, specifically targets single parents, addressing the unique challenges faced by single-parent households.
Over the last decade, Pine Bluff has experienced a consistent decline in population, from 53,923 in 2013 to 46,164 in 2022. Despite this population decrease, the median income has shown an overall increase, rising from $35,417 in 2013 to $41,818 in 2022. The racial composition of Pine Bluff has remained relatively stable, with African Americans consistently comprising about 71% of the population, followed by White residents at around 24-25%.
The most recent LIHTC project was completed in 2018, which coincides with the period of population decline and income growth. This suggests that while the overall population was decreasing, there was still a recognized need for affordable housing options in the city.
Pine Bluff's LIHTC-funded affordable housing inventory represents a significant investment in addressing low-income housing needs. With 576 total units and 465 low-income units, the program covers about 3.26% of the city's estimated housing stock. The city has maintained a consistent focus on affordable housing development over more than two decades, with projects catering to various household sizes and specific populations like single parents. Despite a declining population, the continued investment in LIHTC projects through 2018 indicates an ongoing commitment to providing affordable housing options for Pine Bluff's residents.
