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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Texarkana, a city located on the Texas-Arkansas border, has a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 644 affordable housing units, all of which are classified as low-income units. This indicates a targeted approach to providing housing for lower-income residents.
The LIHTC funded affordable housing represents approximately 3.8% of Texarkana's estimated housing inventory of 16,785 units. This percentage suggests that while LIHTC projects contribute to affordable housing in Texarkana, there may be additional needs or other programs complementing the affordable housing inventory.
Texarkana has 14 LIHTC funded projects, with an average of 46 units per project. The earliest known completed project was Town North Apts in 2003, followed by Lakeridge Townhomes in 2004. More recent projects include Pecan Ridge in 2011 and Rosehill Ridge in 2013. This timeline indicates that affordable housing development through LIHTC has been ongoing in Texarkana for at least two decades.
The data reveals that 94 one-bedroom units are available, suggesting a focus on smaller households or individuals. The lack of information on other unit sizes limits the analysis of the full range of housing options provided by these projects.
Over the past decade, Texarkana's population has remained relatively stable, with a slight increase from 43,805 in 2013 to 43,808 in 2022. The median income has shown a more significant change, rising from $49,774 in 2013 to $59,356 in 2022, representing a 19.3% increase.
Racial demographics have also shifted slightly. The Black population has remained steady at around 34-35% of the total population, while the Hispanic population has grown from 4% in 2013 to 9% in 2022. The White population has decreased slightly from 54% to 52% during this period.
These demographic changes, particularly the increase in median income, may influence the ongoing need for affordable housing in Texarkana. The growing Hispanic population might also indicate a need for culturally sensitive housing options.
Texarkana's LIHTC funded affordable housing inventory represents a small but significant portion of the city's housing stock. With 644 low-income units across 14 projects, the program has been consistently contributing to affordable housing options for at least two decades. The stable population, increasing median income, and slight shifts in racial demographics suggest a continued need for affordable housing, particularly as the city becomes more diverse. While the LIHTC program plays a crucial role, it is likely that other housing initiatives also contribute to meeting Texarkana's affordable housing needs.