Loading Content...
Affordable Housing Analysis in Zip Code 59212: Roosevelt Villas in Bainville, Montana
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59212 in Bainville, Montana, contains 16 Low Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. This zip code spans 251.91 square miles and had a population of 453 in 2022. Using the national average household size of 2.61 persons, the estimated housing inventory for this zip code is approximately 174 units. The LIHTC funded affordable housing comprises about 9.2% of the estimated housing units in the zip code.
The LIHTC program has allocated $260,886 in tax credits for affordable housing projects in zip code 59212. This equates to an average federal funding of $16,305 per unit. This zip code receives 0.14% of Montana's total LIHTC funding allocation.
Roosevelt Villas, completed in 2019, is the only LIHTC funded project in zip code 59212. This development marks the introduction of LIHTC funded affordable housing in the area. Roosevelt Villas consists of 16 units, equally divided between eight one-bedroom and eight two-bedroom apartments.
The population in zip code 59212 has fluctuated over the past decade, peaking at 530 in 2017 before declining to 453 in 2022. The median income has demonstrated an overall upward trend, rising from $46,704 in 2013 to $66,408 in 2022.
Racial demographics in zip code 59212 have undergone significant changes. The white population decreased from 92% in 2013 to 67% in 2022, while the Native American population increased from 2% to 23% during the same period. The Hispanic population grew from 0% in 2015 to 2% in 2022.
The establishment of LIHTC funded housing in 2019 coincides with these demographic shifts, potentially addressing the changing needs of the community in zip code 59212.
Zip code 59212 contains a single LIHTC funded affordable housing project, Roosevelt Villas, which provides 16 low-income units. This project, completed in 2019, represents approximately 9.2% of the estimated housing inventory. The area has experienced significant demographic changes over the past decade, including population fluctuations, increasing median income, and shifts in racial composition. These changes may have influenced the demand for affordable housing in the area, leading to the development of the LIHTC project.
