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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59255, located in Poplar, Montana, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code has 44 total units in LIHTC funded projects, with 24 designated as low-income units. Based on the estimated 1,239 housing units in the zip code, LIHTC funded affordable housing comprises approximately 3.55% of the zip code's housing inventory.
The LIHTC projects in zip code 59255 have received $1,261,901 in tax credits, averaging $28,680 per unit. This zip code holds 0.69% of Montana's total LIHTC funding, indicating a significant investment in affordable housing for the area. The first LIHTC project, Fort Peck Homes II, was completed in 2013, followed by Fort Peck Sustainable Village in 2015. This demonstrates a relatively recent introduction of LIHTC funded affordable housing in the zip code, spanning just over a decade.
The 2010s saw the most affordable housing development, with both projects completed during this period. The inventory includes a total of 33 three-bedroom units and 11 four-bedroom units, suggesting a focus on accommodating larger families or households.
Over the past decade, zip code 59255 has experienced fluctuations in population, with a peak of 3,781 residents in 2017 and a decline to 3,233 by 2022. Despite these changes, the median income has shown an overall upward trend, rising from $23,749 in 2013 to $36,461 in 2022. The racial composition of the area has remained relatively stable, with Native Americans consistently representing the majority (around 76-80%) of the population. The white population has seen a slight increase from 15% to 20% over the decade.
The introduction of LIHTC projects in 2013 and 2015 coincides with a period of population growth and relatively lower median incomes, suggesting a timely response to the area's affordable housing needs. The subsequent decline in population and increase in median income may indicate changing housing dynamics in the zip code.
Zip code 59255 has a modest LIHTC funded affordable housing inventory, covering about 3.55% of the estimated housing units. The area has received a significant portion of Montana's LIHTC funding, with projects focusing on larger unit sizes. The demographic trends over the past decade, including population fluctuations and income growth, provide context for the timing of these affordable housing developments. The consistent racial composition, with a large Native American population, underscores the importance of culturally appropriate housing solutions in this area.