Red Lodge's LIHTC funding represents 0.1% of Montana's total state funding for affordable housing projects. This indicates that while Red Lodge has received LIHTC funding, other areas in Montana may have a larger share of the state's affordable housing resources.

The city's LIHTC funded affordable housing project, Mountain View Apartments, was completed in 1999. This suggests that affordable housing has been present in Red Lodge for over two decades. The Mountain View Apartments project consists of 32 units, evenly split between 16 one-bedroom and 16 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.

Over the past decade, Red Lodge's population has fluctuated, with a notable increase from 2,682 in 2021 to 3,072 in 2022. The median income has shown some variability, ranging from a high of $60,973 in 2021 to $52,965 in 2022. Racial demographics have remained relatively stable, with the white population representing the majority (90% in 2022). There has been a slight increase in diversity, with small percentages of Asian, Black, Hispanic, and multiracial residents emerging over the years.

Despite these demographic changes, no new LIHTC projects have been recorded in the last decade. This could be due to various factors, including potentially sufficient affordable housing stock from other programs or changes in housing priorities.

Red Lodge's LIHTC funded affordable housing inventory, while modest in size, provides an important resource for low-income residents. The single project, Mountain View Apartments, has been serving the community for over two decades. While the percentage of LIHTC funded units relative to the estimated housing inventory is low, it is important to note that other housing programs may complement this inventory. The city's demographic trends, including population growth and slight increases in diversity, may influence future affordable housing needs and potential LIHTC projects.