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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 72442 in Manila, Arkansas, contains a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 11 affordable units, including 2 low-income units, contributing to approximately 0.57% of the zip code's estimated 1,946 housing units. The 2022 population of this zip code was 5,079.
The LIHTC program has invested $38,266 in tax credits for affordable housing projects in zip code 72442. This equates to an average federal funding of $3,479 per unit. The zip code accounts for 0.02% of the total state LIHTC funding, indicating a small but targeted investment in this area.
The Roseland Apartments, completed in 2001, is the only LIHTC funded project in zip code 72442. This project has provided affordable housing options for over two decades. The Roseland Apartments consist of 11 total units, comprising 7 efficiencies, 1 one-bedroom unit, and 3 two-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 72442 has experienced demographic shifts. The population has remained relatively stable, fluctuating between 4,900 and 5,300 residents. The median income has increased significantly, rising from $36,353 in 2013 to $71,819 in 2022, indicating changing economic conditions in the area.
Racial distribution in zip code 72442 has remained predominantly white, consistently above 90% throughout the decade. There has been a slight increase in Hispanic population, from 2% to 3%, and a small but consistent Black population of around 1%. Despite the rising median income, the presence of LIHTC funded housing suggests an ongoing need for affordable options in the community.
Zip code 72442 in Manila, Arkansas, features a small but important LIHTC funded affordable housing inventory, centered around the Roseland Apartments project. While the affordable housing covers a small percentage of the estimated housing stock, it provides crucial options for low-income residents. The area has seen significant income growth over the past decade, yet the continued presence of LIHTC housing underscores the ongoing need for affordable options in the community. The stable population and consistent racial demographics suggest that the affordable housing needs have remained relatively constant, even as economic conditions have improved.