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Affordable Housing in Miles City: LIHTC's Impact on a Small Montana Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Miles City, Montana, a small city with historical roots in the late 19th century, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 53 units. These units are all designated as low-income. The LIHTC-funded housing represents approximately 1.42% of the city's estimated 3,741 housing units.
The LIHTC program has provided Miles City with $290,543 in project tax credits. This funding is distributed across two projects, resulting in an average of $145,271.50 per project and $5,481.94 per unit. Miles City's share of Montana's total LIHTC funding is 0.16%, indicating a relatively small portion of the state's affordable housing resources.
Affordable housing has been present in Miles City for over two decades. The initial LIHTC project, Custer Villas, was completed in 1999, while the most recent project, Cornerstone, was finished in 2007. The 2000s marked the period of most significant affordable housing development activity in the city.
The LIHTC-funded housing inventory in Miles City comprises 3 one-bedroom units, 30 two-bedroom units, and 20 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Miles City's population has remained relatively stable over the past decade, fluctuating between 9,700 and 10,000 residents. The median income has shown an overall increasing trend, rising from $50,399 in 2013 to $58,613 in 2022, with some fluctuations in between. This increase in median income may partially explain the absence of new LIHTC projects in recent years.
The racial composition of Miles City has remained predominantly white, though there has been a slight decrease in the white population from 93% in 2013 to 88% in 2022. There has been a small increase in Hispanic residents (from 2% to 4%) and those identifying as two or more races (from 1% to 5%) during this period.
Miles City's LIHTC-funded affordable housing inventory provides 53 low-income units to the community. The city received a small portion of Montana's LIHTC funding, which was used to develop two projects over an eight-year period. The housing mix primarily caters to small and medium-sized families. While the city's population has remained stable, increasing median incomes and slight shifts in racial demographics have occurred over the past decade. These factors may influence future affordable housing needs and development in Miles City.
