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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Westside neighborhood of Missoula, Montana, has a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This inventory comprises 248 total units, with 247 designated as low-income units. Based on the 2022 population of 12,180 and an estimated 4,667 housing units, the LIHTC-funded affordable housing represents approximately 5.3% of the neighborhood's estimated housing stock.
The LIHTC program has invested $20,818,070 in tax credits for affordable housing projects in the Westside neighborhood. This investment translates to an average federal funding of about $83,944 per unit. The neighborhood has experienced consistent development of affordable housing over two decades, with the first LIHTC project, Phillips Apartments, completed in 1996, and the most recent, River Ridge Apartments LP, finished in 2016.
The 2010s saw the most significant affordable housing development, with four projects completed during this decade: Equinox Apartments (2009), Solstice (2011), Aspen Place (2014), and River Ridge Apartments LP (2016). This indicates a sustained commitment to affordable housing in the neighborhood over time.
The LIHTC-funded housing inventory in Westside offers a diverse range of unit sizes to accommodate different household needs. The breakdown includes 9 efficiencies, 110 one-bedroom units, 73 two-bedroom units, and 27 three-bedroom units. This distribution suggests a focus on smaller households, with a significant number of units suitable for individuals or couples.
Over the past decade, the Westside neighborhood has experienced notable demographic changes. The population has grown from 9,983 in 2015 to 12,180 in 2022, an increase of about 22%. This growth may have contributed to the need for additional affordable housing options.
Median income in the neighborhood has also seen an upward trend, rising from $42,327 in 2015 to $58,626 in 2022. Despite this increase, the continued development of LIHTC projects suggests an ongoing need for affordable housing options, possibly due to rising housing costs in the area.
The racial composition of the neighborhood has remained relatively stable, with a slight decrease in the white population from 90% in 2015 to 86% in 2022. There has been a small increase in diversity, with slight growths in Asian, Hispanic, and multi-racial populations. This gradual diversification may influence future affordable housing needs and designs.
The Westside neighborhood of Missoula has a substantial LIHTC-funded affordable housing inventory, representing about 5.3% of the estimated housing stock. The area has seen consistent development of affordable housing projects over two decades, with a particular focus in the 2010s. The inventory offers a range of unit sizes, primarily catering to smaller households. While the neighborhood has experienced population growth and increased median income over the past decade, the continued development of LIHTC projects indicates an ongoing commitment to maintaining affordable housing options in the area. The gradual diversification of the population may influence future affordable housing needs and development strategies in the Westside neighborhood.