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Affordable Housing in Pablo: Analysis of LIHTC Projects in Zip Code 59855
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pablo, zip code 59855, is a small community in Montana with a unique LIHTC funded affordable housing inventory. The zip code has 2 total affordable units, all of which are designated as low-income units. Based on the estimated 23 housing units in the zip code, the LIHTC funded affordable housing covers approximately 8.7% of the zip code's housing inventory.
The LIHTC program has invested $128,626 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $64,313 per unit. This zip code accounts for 0.07% of Montana's total LIHTC funding allocation.
The Felsman Addition, completed in 1998, represents the sole LIHTC project in the area. This project has provided affordable housing options in the zip code for over two decades. The development consists of one three-bedroom unit and one four-bedroom unit, catering to families of various sizes.
Over the past decade, Pablo's population has fluctuated, peaking at 86 residents in 2018 and settling at 60 in 2022. The median income has shown an overall upward trend, rising from $24,263 in 2013 to $30,539 in 2022, suggesting a gradual improvement in economic conditions.
Race distribution trends reveal shifts. The Native American population has decreased from 57% in 2017 to 38% in 2022. The white population has increased from 24% to 42% during the same period. The Hispanic population has remained relatively stable, hovering around 5-7%.
No new LIHTC projects have been built in the last decade. This could be due to the small population size and the gradual increase in median income, potentially reducing the immediate need for additional affordable housing units.
Pablo's zip code 59855 has a modest LIHTC funded affordable housing inventory, consisting of two units from a single project completed in 1998. This covers about 8.7% of the estimated housing stock. The area has experienced demographic shifts, including changes in racial composition and a gradual increase in median income. These factors, combined with the small population, may influence the current state of LIHTC funded affordable housing in the zip code.
