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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59725 in Montana, encompassing Dillon, has a population density of 3.27 people per square mile as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded one affordable housing project in this area, providing 24 low-income units. These LIHTC-funded units represent 0.75% of the estimated 3,184 housing units in the zip code, based on the 2022 population and national average household size.
The LIHTC program has invested $190,535 in tax credits for affordable housing in this zip code, averaging $7,939 per unit. This investment represents 0.1% of Montana's total LIHTC funding. The sole LIHTC-funded project in this zip code is the Snowcrest Apartments, completed in 2005. This development has 24 units, with 16 two-bedroom and 8 three-bedroom apartments.
Over the past decade, the zip code has experienced population growth, increasing from 8,082 in 2013 to 8,311 in 2022. The median income has risen from $45,280 in 2013 to $52,611 in 2022. Racial demographics have remained relatively stable, with the white population consistently representing around 90% of residents. The Hispanic population has grown from 3% in 2013 to 5% in 2022, and there has been a small increase in residents identifying as two or more races.
Despite demographic shifts, no new LIHTC projects have been developed in the last decade. This could be due to the relatively stable population and improving median income, which may have reduced the perceived need for additional affordable housing units.
The 59725 zip code area has a single LIHTC-funded affordable housing project, Snowcrest Apartments, which has been serving the community since 2005. While this project provides 24 low-income units, it represents a small fraction of the estimated housing inventory. The area has seen gradual population growth and income improvements over the past decade, with minimal changes in racial demographics. The lack of new LIHTC developments in recent years may reflect the area's economic stability and modest growth.