Loading Content...
Affordable Housing in Shelby, Montana: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Shelby, a city in Montana, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its housing stock. The city's LIHTC inventory comprises 24 affordable units, all of which are designated as low-income units. These units represent approximately 1.76% of Shelby's estimated total housing inventory of 1,362 units.
Shelby has received $223,452 in LIHTC project tax credits for affordable housing. This funding has been distributed across approximately two projects, resulting in an average federal funding of $111,726 per project and $9,310.50 per unit. The city's share of Montana's total LIHTC funding stands at 0.12%, indicating a modest portion of the state's affordable housing initiatives.
The LIHTC program has been active in Shelby for nearly two decades. The first project, Westwood Apartments, was completed in 1995, while the most recent, Sweet Grass Apartments, was finished in 2013. This timeline demonstrates a long-term commitment to affordable housing in the city. The 1990s and 2010s were the most active periods for LIHTC housing development in Shelby.
The LIHTC-funded housing stock in Shelby offers a diverse range of units. It consists of 4 one-bedroom units, 12 two-bedroom units, and 8 three-bedroom units. This distribution suggests an effort to accommodate various household sizes, from individuals to small families.
Shelby's population has experienced a slight decline over the last decade, decreasing from 3,969 in 2014 to 3,554 in 2022. The median income has fluctuated during this period, with a notable decrease from $60,383 in 2014 to $50,560 in 2022. These trends may indicate an increasing need for affordable housing options in the city.
Racial demographics in Shelby have remained relatively stable. There has been a slight decrease in the white population from 87% in 2014 to 81% in 2022. Concurrently, there has been a small increase in diversity, particularly in the Native American population, which grew from 5% to 7% during this period.
Shelby's LIHTC-funded affordable housing inventory, while modest in size, represents a consistent effort to provide low-income housing options. The city's demographic trends, including a declining population and fluctuating median income, underscore the ongoing importance of affordable housing initiatives. The diversity in unit types suggests an attempt to meet varied housing needs within the community. As Shelby continues to evolve, monitoring these trends will be crucial for future affordable housing planning and development.
