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Affordable Housing in Pocahontas, Arkansas: LIHTC Funding 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
Pocahontas, a city in Arkansas, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 48 units. All of these units are designated as low-income units. Based on the estimated housing inventory of 4,123 units, LIHTC funded affordable housing accounts for approximately 1.16% of the city's housing stock.
Pocahontas has received $139,727 in project tax credits from the LIHTC program. With two projects, this translates to an average of $69,864 in federal funding per project. The average federal funding per unit is $2,911. The city holds 0.09% of the total state LIHTC funding, indicating a relatively small share of Arkansas's affordable housing resources.
The first LIHTC project in Pocahontas, Rolling Hills Villas of Pocahontas, was completed in 1988, while the most recent project, Southpoint Apartments, was finished in 2012. This 24-year span demonstrates a long-term commitment to affordable housing in the city. The 1980s and 2010s each saw one affordable housing project completed, showing a consistent, albeit limited, development of affordable housing over the decades.
All 48 LIHTC funded units in Pocahontas are one-bedroom apartments, suggesting a focus on housing for individuals or small households.
Over the last decade, Pocahontas has experienced population growth, increasing from 9,175 in 2013 to 10,761 in 2022. The median income has also risen significantly, from $38,089 in 2013 to $48,808 in 2022. Racial demographics have shifted slightly, with the white population decreasing from 95% in 2013 to 87% in 2022, while other racial groups, particularly those identifying as two or more races, have increased.
Despite these demographic changes, no new LIHTC projects have been developed in Pocahontas since 2012. This could be due to the rising median income, which might indicate a reduced need for additional affordable housing units.
Pocahontas's LIHTC funded affordable housing inventory consists of 48 one-bedroom units across two projects, covering about 1.16% of the city's estimated housing stock. The city has received nearly $140,000 in tax credits, representing a small portion of Arkansas's total LIHTC funding. While the city has seen population growth and increased median income over the past decade, no new LIHTC projects have been developed since 2012. This analysis provides insight into the role of LIHTC in Pocahontas's affordable housing landscape, though other housing programs may also contribute to the city's overall affordable housing inventory.
