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Affordable Housing Analysis in Zip Code 59474: LIHTC Impact in Shelby, Montana
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59474, located in Shelby, Montana, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code has 24 affordable housing units, all designated as low-income units. The area covers 726.93 square miles and has a population of 3,481 as of 2022. The estimated housing inventory is approximately 1,334 units, with LIHTC funded affordable housing comprising about 1.8% of the total housing stock in the zip code.
The LIHTC program has invested $223,452 in tax credits for affordable housing projects in zip code 59474. This equates to an average federal funding of $9,311 per unit. This zip code accounts for 0.12% of the total LIHTC funding allocated to Montana. Affordable housing has been present in this zip code for nearly three decades, with the first project completed in 1995 and the most recent in 2013.
The affordable housing inventory in zip code 59474 includes 4 one-bedroom units, 12 two-bedroom units, and 8 three-bedroom units, providing options for various household sizes.
Zip code 59474 has experienced demographic shifts over the past decade that may correlate with the LIHTC projects. The population decreased from 3,658 in 2010 to 3,481 in 2022. Median income fluctuated, peaking at $59,734 in 2014 before declining to $50,305 in 2022. Racial distribution remained relatively stable, with a slight decrease in the white population from 86% in 2013 to 81% in 2022. The Native American population increased from 5% to 7% during this period.
The most recent LIHTC project in zip code 59474, completed in 2013, coincided with a period of population growth and relatively high median income. The subsequent lack of new LIHTC projects may be related to the population decline and income fluctuations observed since then.
Zip code 59474 in Shelby, Montana, has a small but significant LIHTC funded affordable housing inventory, comprising about 1.8% of the estimated housing stock. The area has two LIHTC projects spanning nearly three decades, providing 24 low-income units with various bedroom configurations. The population has slightly decreased in recent years, while racial diversity has incrementally increased. The absence of new LIHTC projects since 2013 may be associated with demographic shifts, including population decline and income fluctuations. This analysis provides insight into the affordable housing landscape of this rural Montana zip code and its relationship to demographic trends.
