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Affordable Housing Impact in Zip Code 59457: LIHTC Program in Lewistown, 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 59457 in Lewistown, Montana, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code covers 885.88 square miles with an estimated population of 8,532 as of 2022. The LIHTC program has funded 59 affordable housing units in this zip code, all classified as low-income units. These units represent approximately 1.8% of the zip code's estimated housing inventory of 3,269 units.
The LIHTC projects in zip code 59457 have received $320,000 in project tax credits, averaging $5,424 per unit. This funding constitutes 0.17% of Montana's total LIHTC allocation. LIHTC-funded affordable housing projects in this zip code span nearly a decade, with the first project, Ouellette Place, completed in 2010, and the most recent, Meadows, finished in 2018. The 2010s saw the highest number of affordable housing project completions in this area.
The affordable housing inventory in zip code 59457 includes a range of unit types: 37 one-bedroom units, 16 two-bedroom units, and 6 three-bedroom units. This distribution indicates an effort to accommodate various household sizes, from individuals to small families.
Zip code 59457 has experienced demographic changes over the past decade. The population decreased from 9,289 in 2014 to 8,532 in 2022. Median income fluctuated, reaching $51,235 in 2021 before decreasing to $44,460 in 2022. Racial demographics remained relatively stable, with the white population consistently representing 93-95% throughout the decade. Small increases in Asian, Black, and Hispanic populations occurred, though these groups remain a small percentage of the total population.
The completion of the Meadows project in 2018 coincided with a period of relatively stable median income and slight population decline, potentially indicating a response to changing housing needs in the area.
The LIHTC program has contributed to affordable housing options in zip code 59457, providing 59 low-income units across two projects over nearly a decade. These units, while a small percentage of the estimated housing inventory, offer important affordable options in an area that has undergone economic and demographic shifts. The diverse mix of unit types suggests an attempt to meet varying household needs within the community. The impact of these LIHTC projects on housing affordability and community development in zip code 59457 is likely to remain significant as the area continues to evolve.
