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Affordable Housing in Helena's Southeast Neighborhood: A Two-Decade Analysis of LIHTC Impact
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 Southeast neighborhood of Helena, Montana, contains 38 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income. Based on the 2022 population of 10,855 and the national average household size, the neighborhood is estimated to have approximately 4,159 housing units. The LIHTC funded affordable housing represents about 0.91% of the estimated housing inventory in the Southeast neighborhood.
The LIHTC program has invested $182,886 in tax credits for affordable housing projects in this neighborhood, averaging $4,813 per unit in federal funding. The East Park Villas, completed in 1997, is the only LIHTC funded project in the area. This project has provided affordable housing options in the Southeast neighborhood for over two decades.
East Park Villas consists of 38 units, including 34 one-bedroom and 4 two-bedroom apartments. This distribution indicates a focus on accommodating smaller households or individuals. The project does not have a specific target population, suggesting it may serve a diverse range of low-income residents.
The Southeast neighborhood has experienced population growth over the past decade, increasing from 9,124 in 2013 to 10,855 in 2022. The median income has remained relatively stable, rising from $83,701 in 2013 to $83,817 in 2022.
Racial demographics have shown minor changes. The white population decreased from 95% in 2013 to 90% in 2022, while the Hispanic population increased from 1% to 3%. The percentage of residents identifying as two or more races increased from 2% to 4% during this period. Despite these changes, no new LIHTC projects have been developed in the last decade, indicating that existing affordable housing options, including East Park Villas, may be meeting current needs or that other affordable housing programs might be in place.
The Southeast neighborhood of Helena, Montana, has one LIHTC funded affordable housing project, East Park Villas, which has served the community since 1997. It provides 38 dedicated low-income units, representing a small percentage of the estimated housing inventory. The neighborhood has experienced moderate population growth and income stability over the past decade, with slight shifts in racial demographics. The absence of new LIHTC projects in recent years may suggest that current affordable housing needs are being met through existing resources or other programs not captured in this data.
