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Affordable Housing in Billings' Heights: A Three-Decade LIHTC Evolution
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Heights neighborhood in Billings, Montana, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, contributing to the area's housing diversity. A total of 188 units in LIHTC-funded projects, including 161 designated as low-income units, exist in this neighborhood. Based on the estimated 12,821 housing units in the neighborhood, the LIHTC-funded affordable housing covers approximately 1.47% of the total housing stock.
The LIHTC program has invested $1,754,960 in tax credits for affordable housing projects in the Heights neighborhood. This translates to an average federal funding of $9,335 per unit in LIHTC-funded projects. The neighborhood has seen a consistent development of affordable housing over the years, with the earliest LIHTC project, Heights Centennial Apartments, completed in 1991, and the most recent, Starner Gardens Apartments 9, finished in 2019. This 28-year span indicates a long-term commitment to affordable housing in the area.
The 1990s saw the most affordable housing projects completed, with five out of the eight total projects built during this decade. Notable projects from this period include Brush Meadow Apartments (1994), Edgewood Apts (1997), and Westchester Duplex (1998). The LIHTC-funded housing inventory in the Heights neighborhood offers a variety of unit types to accommodate different household sizes. The breakdown includes 62 one-bedroom units, 71 two-bedroom units, 22 three-bedroom units, and 4 four-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the last decade, the Heights neighborhood has experienced significant population growth, increasing from 28,739 in 2013 to 33,464 in 2022. This 16.4% population increase may have contributed to the need for additional affordable housing, as evidenced by the completion of two LIHTC projects during this period (Red Fox Apartments in 2018 and Starner Gardens Apartments 9 in 2019).
The median income in the neighborhood has fluctuated over the years, reaching a peak of $77,103 in 2021 before decreasing to $70,305 in 2022. This recent decline in median income could potentially increase the demand for affordable housing options in the future.
Racial demographics in the Heights neighborhood have remained relatively stable over the past decade, with a slight increase in diversity. The white population has decreased marginally from 87% in 2013 to 86% in 2022, while the Hispanic population has grown from 5% to 6% during the same period. The neighborhood has also seen a small increase in residents identifying as two or more races, from 2% in 2013 to 4% in 2022.
The Heights neighborhood in Billings, Montana, has an established LIHTC-funded affordable housing inventory that has developed over nearly three decades. While the current LIHTC-funded units represent a small percentage of the estimated total housing stock, they provide important affordable options for the community. The neighborhood has experienced significant population growth and some income fluctuations in recent years, which may influence future affordable housing needs. The consistent development of LIHTC projects over time, including recent additions, suggests an ongoing commitment to addressing affordable housing in the Heights neighborhood.
