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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bigfork, Montana, a small community, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 55 units, all designated as low-income. This represents approximately 1.83% of the city's estimated 3,011 housing units. The city has received $751,938 in project tax credits through the LIHTC program, with an average federal funding of $375,969 per project and $13,672 per unit. Bigfork holds 0.41% of Montana's total LIHTC funding.
The city's affordable housing development spans from 2008 to 2017, with Crestview Apartments being the first project and Little Jon Apartments the most recent. This indicates nearly a decade of affordable housing development in Bigfork, with the 2010s seeing the most activity. The LIHTC funded projects offer a mix of unit types, including 24 one-bedroom units, 10 two-bedroom units, and 3 three-bedroom units, suggesting a focus on smaller household sizes.
Over the past decade, Bigfork has experienced population growth, increasing from 6,472 in 2010 to 7,859 in 2022. The median income has risen from $61,710 in 2013 to $70,962 in 2022, indicating overall economic improvement. Racial demographics have remained relatively stable, with a slight decrease in the white population from 95% in 2013 to 88% in 2022, and a small increase in diversity, particularly in the Hispanic population, which grew from 2% in 2013 to 7% in 2022.
The development of LIHTC projects in 2008 and 2017 aligns with periods of population growth and increasing median income, suggesting a proactive approach to addressing affordable housing needs as the community expanded.
Bigfork's LIHTC funded affordable housing represents a small but significant portion of its housing inventory. The city has leveraged federal funding to create 55 low-income units across two projects over nearly a decade. The percentage of affordable housing is modest compared to the estimated total housing stock, yet it reflects ongoing efforts to address housing needs in this growing community. The mix of unit types suggests attention to diverse household sizes, and the timing of projects correlates with periods of population growth and rising incomes.