Affordable housing has been present in Belgrade since 1996, with the most recent project completed in 2017. The 1990s saw the most affordable housing development, with four projects completed during this decade. Notable projects include Farmhouse Apartments and Gallatin Trails Apartments-Belgrade, both completed in 1996.

The LIHTC funded housing in Belgrade consists primarily of one-bedroom and two-bedroom units, with 58 and 76 units respectively. There are also 6 three-bedroom units, providing options for families of various sizes.

Two projects in Belgrade have specific target populations. Gallatin Trails Apartments-Belgrade and Gallatin Trails II Apartments, both completed in the late 1990s, are designed to serve individuals with disabilities. This focus on accessible housing addresses the needs of diverse populations within the community.

Belgrade has experienced significant population growth, increasing from 9,661 in 2010 to 14,516 in 2022, representing a growth rate of over 50%. Median income has risen from $53,852 in 2013 to $71,421 in 2022, indicating improving economic conditions for many residents. The racial composition of Belgrade has remained relatively stable, with a predominantly white population (92% in 2022) and a small increase in diversity, particularly in the Hispanic population and those identifying as two or more races.

Belgrade's LIHTC funded affordable housing inventory provides important housing options for low-income residents. The city has seen consistent development of affordable housing since the mid-1990s, with a focus on one and two-bedroom units. The rapid population growth and rising median income in recent years suggest a continued need for affordable housing options to ensure balanced community development. The current LIHTC inventory represents a foundation upon which future affordable housing initiatives can build.