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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59041 in Montana, which includes the Silesia area, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. There is one affordable housing unit in this zip code, which is also designated as a low-income unit. Based on the 2022 population of 2,104 and an estimated 806 housing units, the LIHTC-funded affordable housing covers approximately 0.12% of the zip code's estimated housing inventory.
The LIHTC program has allocated $1,409 in tax credits for affordable housing in this zip code. With one unit funded, this translates to an average federal funding of $1,409 per unit. The sole LIHTC project in this area is "J & L Rentals," completed in 1993. This project represents the entirety of LIHTC-funded affordable housing in the zip code over the past three decades.
The J & L Rentals project consists of one two-bedroom unit, which contributes to the area's affordable housing stock. This single project has been the only LIHTC-funded development in the zip code since its completion in 1993, indicating a relatively long-standing presence of affordable housing in the area, albeit on a very small scale.
Over the past decade, the zip code has experienced some demographic shifts. The population has grown from 1,918 in 2013 to 2,104 in 2022, indicating a modest increase. Median income has also risen significantly, from $55,095 in 2013 to $76,064 in 2022, suggesting an overall improvement in economic conditions.
Racial distribution has remained relatively stable, with the white population consistently making up the majority (93-95%) throughout the decade. There has been a slight increase in diversity, with small percentages of Hispanic, Native American, and multiracial residents.
Despite the population growth and income increase, there has not been any new LIHTC-funded affordable housing development in the last decade. This could be due to various factors, including the overall economic improvement in the area or potentially other affordable housing initiatives not captured in the LIHTC data.
The 59041 zip code area has a minimal LIHTC-funded affordable housing presence, with just one unit developed in 1993. This unit represents a very small fraction of the estimated housing inventory. Over the past decade, the area has seen population growth and a significant increase in median income, but no new LIHTC projects have been developed. The racial composition has remained largely stable, with a slight increase in diversity. While the LIHTC program has had a limited impact in this specific zip code, it is important to note that other affordable housing initiatives may be present that are not reflected in this data.