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Affordable Housing in Missoula's Riverfront: Two Decades of LIHTC Development
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 Riverfront neighborhood in Missoula, Montana, has 54 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all designated as low-income. This represents approximately 4.92% of the estimated 1,097 housing units in the neighborhood. The LIHTC program has invested $746,024 in tax credits for affordable housing projects in Riverfront, averaging $13,815 per unit.
Affordable housing development in Riverfront spans 22 years, from 1995 to 2017. The 1990s saw the most activity, with four projects completed: Coad I, Coad II, Coad III (all in 1995), and Fireweed Court (1998). The housing inventory includes 8 efficiencies, 7 one-bedroom units, 12 two-bedroom units, and 27 three-bedroom units, accommodating various household sizes. The Coad I, II, and III projects specifically target the handicapped population.
Riverfront's population grew from 2,533 in 2013 to 2,864 in 2022. The median income in 2022 was $39,881, slightly lower than $41,437 in 2013. This moderate-income profile indicates an ongoing need for affordable housing. The neighborhood's racial composition has diversified, with the white population decreasing from 94% in 2013 to 81% in 2022, and notable increases in Asian, Hispanic, and multi-racial residents.
The completion of two recent LIHTC projects (Sweetgrass Commons in 2016 and California Street in 2017) aligns with the neighborhood's population growth and evolving demographics, suggesting a responsive approach to meeting affordable housing needs.
The Riverfront neighborhood has maintained a consistent focus on affordable housing through the LIHTC program for over two decades. The mix of unit types and targeted projects for handicapped residents demonstrates efforts to address diverse housing needs. While LIHTC funded units represent a small portion of the overall housing inventory, they provide an important resource for low-income residents. The neighborhood's changing demographics and steady population growth suggest an ongoing need for affordable housing options, which recent LIHTC projects have aimed to address.
