Loading Content...
Affordable Housing Analysis: Zip Code 59864 in Montana and LIHTC-Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59864 in Montana, which includes Pablo, contains 73 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 2.96% of the area's estimated 2,468 housing units based on the 2022 population. The LIHTC projects in this zip code have received $478,033 in tax credits, averaging $6,548 per unit in federal funding, which accounts for 0.26% of Montana's total LIHTC funding allocation.
The development of LIHTC-funded housing in this zip code occurred between 2000 and 2006. The first project, Ronan Maxwell Senior Apartments, was completed in 2000, while the most recent, Felsman Nand E, was finished in 2006. The early 2000s saw significant activity, with four projects completed in 2001 alone, including Acre Lawn Apartments I, Main Street H And G Apartments, and Sparrow Lane Homes Phase I.
The LIHTC-funded housing inventory in zip code 59864 offers a range of unit types: 1 efficiency unit, 21 one-bedroom units, 19 two-bedroom units, 30 three-bedroom units, and 2 four-bedroom units. This distribution indicates accommodation for various household sizes, with a focus on families requiring multiple bedrooms.
The population of zip code 59864 has remained relatively stable over the past decade, fluctuating between approximately 5,900 and 6,400 residents. The median income has shown a gradual increase from about $37,000 in 2013 to $39,097 in 2022, with some variations in between. Racial demographics have remained fairly consistent, with a significant Native American population (30-35% of residents) and a majority White population (50-56%). The area has experienced a slight increase in residents identifying as two or more races, growing from 7% in 2013 to 12% in 2022.
Despite the absence of new LIHTC projects in the last decade, the relatively stable population and modest income growth suggest that the existing affordable housing stock may continue to meet a portion of the community's needs. The 59864 zip code area has established a foundation of LIHTC-funded affordable housing, primarily developed in the early 2000s. While the percentage of affordable units is modest compared to the total estimated housing stock, it represents a targeted investment in the community.
The diverse unit types in the LIHTC-funded housing inventory cater to various household sizes, potentially addressing different segments of the low-income population. The demographic stability over the past decade, coupled with a slight increase in median income, indicates that while new LIHTC projects have not been developed recently, the existing affordable housing continues to play a role in the community's housing landscape.
