Affordable Housing in Zip Code 72384: Analysis of LIHTC Project Turrell Meadows
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 72384 in Arkansas covers an area of 100.41 square miles with a population of 1,560 in 2022. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 24 low-income units. The LIHTC funded affordable housing accounts for approximately 4% of the zip code's estimated housing inventory of 598 units.
The LIHTC project in zip code 72384 received $56,355 in tax credits, averaging $2,348 per unit. This funding constitutes 0.04% of Arkansas's total LIHTC allocation. The project, named Turrell Meadows, was completed in 2006, establishing over 15 years of LIHTC-funded affordable housing presence in the area.
Turrell Meadows comprises 24 units, all designated as low-income housing. The project includes 13 two-bedroom and 11 three-bedroom units, accommodating various family sizes within the low-income community.
The population of zip code 72384 has remained relatively stable over the past decade, ranging between 1,429 and 1,641 residents. The median income has exhibited significant fluctuations, from a low of $40,831 in 2017 to a high of $73,863 in 2021, before settling at $49,610 in 2022. This income variability may indicate changing economic conditions that could affect the demand for affordable housing.
Racial demographics in zip code 72384 have changed notably since 2013. The White population decreased from 57% to 43% in 2022, while the Black population increased slightly from 38% to 41%. The proportion of residents identifying as two or more races increased substantially from 2% to 11%. These demographic shifts may influence future affordable housing needs and strategies in the area.
Zip code 72384 contains one LIHTC-funded affordable housing project, Turrell Meadows, which has been operational since 2006. While it provides 24 low-income units, this represents a small portion of the estimated housing inventory. The area has experienced demographic changes and income fluctuations over the past decade, which may impact future affordable housing requirements. Continued assessment of housing needs in relation to these changing demographics will be essential for addressing low-income housing demands in this zip code.
