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Affordable Housing Analysis: LIHTC Impact in Montana's Zip Code 59872
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 59872 in Montana, which includes the Riverbend area, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The zip code covers 536.85 square miles and had a population of 2,499 in 2022. The LIHTC program has funded 32 total units in this area, all designated as low-income units. Based on the estimated housing inventory of approximately 957 units, the LIHTC-funded affordable housing covers about 3.3% of the zip code's housing stock.
The LIHTC projects in this zip code have received $497,001 in tax credits, averaging about $15,531 per unit. This funding represents 0.27% of Montana's total LIHTC allocation, indicating a modest investment in affordable housing for this rural area.
The affordable housing presence in this zip code spans over a decade. The first project, Cottages At Edna Court, was completed in 1999, and the most recent, Superior Commons, was finished in 2011. The 2010s saw the largest affordable housing development with Superior Commons adding 24 units to the inventory.
The LIHTC-funded housing in this zip code offers a mix of unit types, with 7 one-bedroom, 13 two-bedroom, and 12 three-bedroom units. This distribution suggests a focus on accommodating small families and individuals. Neither project specified a target population, indicating they may serve a general low-income demographic.
Over the past decade, the zip code's population has fluctuated, with a slight overall increase from 2,383 in 2010 to 2,499 in 2022. The median income has increased from $32,999 in 2013 to $44,720 in 2022, which may indicate changing economic conditions in the area.
The racial composition has remained predominantly white, consistently above 89% throughout the decade. There has been a slight increase in diversity, with small increases in Hispanic, Asian, and multiracial populations.
The LIHTC program has provided affordable housing in zip code 59872, contributing 32 low-income units across two projects. While this represents a small portion of the estimated housing inventory, it provides affordable options in a rural Montana setting. The area has seen moderate population growth and income increases over the past decade, which may influence future affordable housing needs. The stable racial composition with slight diversification trends may also factor into ongoing housing considerations for this community.
