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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rogers, Arkansas, has developed a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has produced 414 total units, with 360 specifically designated as low-income units. This represents approximately 1.48% of the city's estimated housing inventory of 27,968 units.
The LIHTC program in Rogers has received $1,558,880 in project tax credits for affordable housing. This funding has been distributed across approximately 8 projects, resulting in an average federal funding of $194,860 per project and $3,765 per unit. Rogers accounts for 0.97% of the total state LIHTC funding.
The city's involvement with LIHTC-funded affordable housing began in 1991 with the Edgewood Apartments and continues to the present, with the most recent addition being the Gateway of Persimmon, completed in 2019. The 1990s were particularly active for affordable housing development, with five projects completed during that decade.
The LIHTC-funded housing stock in Rogers comprises a diverse range of unit types. There are 99 one-bedroom units, 140 two-bedroom units, and 79 three-bedroom units. This distribution indicates an effort to accommodate various family sizes and needs within the affordable housing sector. The Meadow Park Apartments, completed in 2016, is a notable project that specifically targets disabled individuals, addressing the unique housing needs of this population.
Rogers has experienced consistent population growth over the past decade, increasing from 65,016 in 2016 to 72,996 in 2022, representing a 12.3% growth. This population increase may indicate a rising demand for housing, including affordable options. The median income in Rogers has also increased significantly, from $53,179 in 2016 to $81,770 in 2022, a 53.8% increase. This substantial income growth may suggest changing affordable housing needs in the community.
Racial demographics in Rogers have remained relatively stable, with a slight decrease in the white population from 61% in 2016 to 51% in 2022, and a small decrease in the Hispanic population from 34% to 33% over the same period. The proportion of residents identifying as two or more races increased from 2% to 12%, indicating growing diversity in the city.
Rogers' LIHTC-funded affordable housing inventory, while modest in proportion to the city's total housing stock, demonstrates a long-term commitment to providing affordable housing options. The city has utilized nearly $1.6 million in tax credits to create 414 units across 8 projects over three decades. The diverse unit mix and targeted projects like Meadow Park Apartments show efforts to meet varied housing needs. As Rogers continues to experience population growth and rising incomes, ongoing assessment of affordable housing needs will be crucial to ensure the city maintains a balanced housing market for all residents.