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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rock Creek, a neighborhood in Little Rock, Arkansas, has a population of 20,438 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 196 units, with 176 designated as low-income units. This LIHTC-funded affordable housing represents approximately 2.5% of the neighborhood's estimated 7,831 housing units.
The LIHTC project in Rock Creek received $348,323 in tax credits, averaging about $1,777 per unit in federal funding. The project, Wellington At Chenal (formerly Fountains At Chenal), was completed in 1996, indicating a 25-year presence of affordable housing in the neighborhood. The development offers a mix of unit types: 19 efficiencies, 1 one-bedroom unit, 104 two-bedroom units, and 72 three-bedroom units, accommodating various household sizes with an emphasis on family-sized apartments.
Rock Creek has experienced demographic changes over the past decade. The population increased from 19,764 in 2015 to 20,438 in 2022. The median income remained relatively stable, ranging from $91,922 in 2014 to $93,310 in 2022, with a peak of $98,059 in 2019. The racial distribution shows a predominantly white population, increasing from 65% in 2013 to 69% in 2022. The Black population fluctuated, peaking at 22% in 2020 before decreasing to 18% in 2022. The Asian population remained stable at 7-9% throughout the decade.
Despite these demographic shifts, no new LIHTC projects have been developed in the last decade. This lack of new affordable housing development may be attributed to the area's relatively high median income, potentially indicating reduced demand for additional affordable housing units.
Rock Creek's affordable housing landscape is characterized by a single LIHTC project serving the community since 1996. While this project provides 196 units, it constitutes a small portion of the neighborhood's estimated housing stock. The area's high median income and stable demographics may explain the absence of recent LIHTC developments. It is important to note that other affordable housing programs not captured in this data may contribute to the neighborhood's housing diversity.