Loading Content...
Affordable Housing in Big Sky, Montana: 25 Years of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Big Sky, Montana, a mountain community known for its ski resort, has 72 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 36 designated as low-income. This comprises approximately 3.57% of the city's estimated 2,016 housing units. The LIHTC program has provided $206,428 in project tax credits to Big Sky, averaging $103,214 per project and $2,867 per unit. Big Sky's allocation represents 0.11% of Montana's total LIHTC funding.
The LIHTC-funded affordable housing in Big Sky has been present since 1998, with two projects completed that year: Big Sky Apartments - Phase I and Big Sky Apartments II. This indicates a two-decade presence of LIHTC initiatives in the community. The affordable housing inventory includes 22 efficiencies, 24 one-bedroom units, and 26 two-bedroom units, accommodating various household sizes.
Big Sky's population increased by 23% from 2013 to 2022, reaching 5,263. The median income in 2022 was $74,125. The city's racial composition remained predominantly white, with a slight increase in Hispanic population from 2% in 2013 to 9% in 2022. Despite these demographic changes, no new LIHTC projects have been developed since 1998.
The lack of new LIHTC developments in Big Sky since 1998 may be attributed to various factors, including changes in local housing policies, economic conditions, or shifts in funding priorities. This stagnation in affordable housing development contrasts with the significant population growth and demographic shifts experienced by the community over the past decade.
Big Sky's LIHTC-funded affordable housing inventory, established over two decades ago, represents a small portion of the city's estimated housing stock. The two projects completed in 1998 provide a mix of unit types, catering to diverse household sizes. The historical presence of affordable housing in Big Sky is evident, but the lack of recent developments highlights the potential need for reassessment of affordable housing requirements in light of recent demographic trends.
The analysis of Big Sky's affordable housing situation underscores the importance of ongoing evaluation and adaptation of housing policies to meet the changing needs of growing communities. The disparity between population growth and affordable housing development suggests a potential area for future policy consideration and community planning efforts.
