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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hysham, Montana, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project in its inventory. This project, Hysham Village, provides 12 low-income units. Based on an estimated housing inventory of 261 units for the town's 2022 population of 680, LIHTC-funded affordable housing comprises approximately 4.6% of the city's housing stock.
The LIHTC program has invested $33,160 in tax credits for affordable housing in Hysham. This equates to an average federal funding of $33,160 per project and $2,763 per unit. Hysham's LIHTC funding represents 0.02% of Montana's total state LIHTC allocation.
Hysham Village, completed in 1996, marks both the inception and current extent of LIHTC-funded affordable housing in the town. This project has served the community's affordable housing needs for over 25 years. The housing mix in Hysham Village consists of 8 one-bedroom units and 4 two-bedroom units, accommodating diverse household sizes.
Hysham Village specifically targets the developmentally disabled population. This focus addresses the unique housing needs of a vulnerable group within the community, potentially providing specialized support services alongside affordable housing.
Hysham has experienced demographic changes over the past decade. The population has decreased from 790 in 2017 to 680 in 2022, a decline of about 14%. Despite this population decrease, the median income has shown an overall upward trend, rising from $43,311 in 2017 to $44,374 in 2022, with some fluctuations in between.
Racial demographics have remained relatively stable, with the white population consistently representing the majority. The percentage of white residents has slightly decreased from 95% in 2017 to 94% in 2022, while the Hispanic population has shown a small increase from 2% to 4% during the same period.
These demographic trends, particularly the declining population and increasing median income, may partly explain why no additional LIHTC projects have been developed in the last decade. The existing project may be sufficient to meet the current affordable housing needs of the community.
Hysham's affordable housing landscape is characterized by a single LIHTC-funded project, Hysham Village, which has been serving the community since 1996. This project, targeting the developmentally disabled population, provides 12 low-income units, representing about 4.6% of the estimated housing inventory. While this percentage is below typical affordable housing targets, it is important to note that other housing programs may also contribute to the affordable housing stock.
The town has experienced a population decline and an increase in median income over the past decade, which may influence the current demand for affordable housing. The LIHTC program's investment in Hysham, while modest in scale, demonstrates a commitment to addressing specific affordable housing needs within the community, particularly for vulnerable populations.