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Affordable Housing in Hamilton, Montana: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hamilton, Montana, exhibits a distinct affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The city contains 290 affordable housing units, of which 287 are designated as low-income units. Based on the 2022 population of 8,514 and an estimated 3,262 housing units, LIHTC-funded affordable housing comprises approximately 8.9% of the city's estimated housing inventory.
Hamilton has received $3,004,448 in project tax credits through the LIHTC program. With approximately 8 projects, this equates to an average federal funding of $375,556 per project and $10,360 per unit. The city holds 1.63% of Montana's total LIHTC funding, indicating a significant portion of the state's affordable housing resources.
The initial LIHTC project in Hamilton, Willow Court, was completed in 1998, while the most recent, Valley Villas Rehab, was finished in 2017. This 19-year span demonstrates a sustained commitment to affordable housing development in the city. The 2000s experienced the most activity in affordable housing construction, with multiple projects completed during this decade, including Mountain View Apts, Mountain View II, and Mountain View III.
The affordable housing inventory in Hamilton consists primarily of one-bedroom (58 units), two-bedroom (140 units), and three-bedroom (92 units) apartments. This distribution indicates a focus on accommodating various household sizes, from individuals to small families.
Over the past decade, Hamilton's population has shown fluctuations, with a general upward trend from 7,347 in 2010 to 8,514 in 2022. The median income has also increased significantly, rising from $32,465 in 2013 to $45,765 in 2022. This growth in population and income may indicate a changing economic landscape that could influence future affordable housing needs.
Racial demographics have remained relatively stable, with the white population consistently representing the majority (around 90-93% in recent years). There has been a slight increase in diversity, with small percentages of Hispanic, Native American, and multiracial residents. This demographic stability suggests that the existing LIHTC projects have been serving a consistent community profile.
Hamilton's LIHTC-funded affordable housing represents a significant portion of its housing inventory, covering nearly 9% of estimated units. The city has maintained a steady development of affordable housing over two decades, with a focus on diverse unit sizes to accommodate various household needs. While the population and median income have grown, the racial demographics have remained relatively stable. These factors, combined with Hamilton's share of state LIHTC funding, indicate an ongoing commitment to providing affordable housing options for its residents.
