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Affordable Housing in Euclid Ave North: LIHTC Impact and Demographic Shifts
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 Euclid Ave North neighborhood in Helena, Montana, features a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 31 affordable units, all designated as low-income units. These units represent approximately 2.13% of the estimated 1,458 total housing units in the neighborhood.
The LIHTC program has contributed $234,500 in tax credits to affordable housing projects in this neighborhood. This equates to an average federal funding of $7,564.52 per unit. The Wilder Street Apartments, completed in 2005, is the only LIHTC funded project in the area. This project accounts for all 31 affordable units, consisting of 23 one-bedroom and 8 two-bedroom apartments.
Over the past decade, the Euclid Ave North neighborhood has experienced changes in its population and median income. The population increased from 3,906 in 2020 to 3,806 in 2022, while the median income rose from $60,230 to $63,409 during the same period.
The neighborhood has maintained a predominantly white population, with a slight increase from 92% in 2020 to 94% in 2022. The Hispanic population decreased from 4% to 2% during this time frame, while other racial groups remained relatively stable.
Since 2005, there have been no new LIHTC projects in the neighborhood. This may indicate that the existing affordable housing stock has been sufficient to meet the community's needs, or that other factors have influenced the development of additional LIHTC projects in the area.
The Euclid Ave North neighborhood in Helena, Montana, has a single LIHTC funded affordable housing project, Wilder Street Apartments, which has provided 31 low-income units since 2005. While this represents a small percentage of the estimated housing stock, it has been a consistent presence in the community for over 15 years. The neighborhood has experienced some demographic shifts in recent years, including a slight increase in population and median income, as well as minor changes in racial composition. However, these changes have not resulted in additional LIHTC funded projects, suggesting that other factors may be influencing affordable housing development in the area.
