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Affordable Housing in Stevensville, Montana: A Three-Decade LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stevensville, Montana, with a population of 6,784 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 30 affordable units, including 3 low-income units. The LIHTC funded affordable housing represents approximately 1.15% of the town's estimated 2,599 housing units.
Stevensville has received $38,033 in project tax credits from the LIHTC program for affordable housing. This amount equates to an average federal funding of $38,033 per project and $1,268 per unit. The town accounts for 2% of Montana's total LIHTC funding.
The single LIHTC project in Stevensville, Burnt Fork Manor, was completed in 1991. This project has provided affordable housing in the town for over three decades. Burnt Fork Manor comprises 26 one-bedroom units and 4 two-bedroom units, primarily serving individuals and small families. The project specifically targets the handicapped population, addressing the housing needs of this demographic.
Stevensville has experienced population growth over the past decade, increasing from 5,743 in 2015 to 6,784 in 2022. The median income has also risen from $50,609 in 2015 to $62,162 in 2022. This economic growth may indicate changes in the housing market and potentially evolving affordable housing needs.
The racial composition of Stevensville has remained relatively stable, with the white population consistently representing over 90% of residents. There has been a slight increase in diversity, with small percentages of Asian, Hispanic, and multiracial residents.
No new LIHTC projects have been developed in Stevensville in the last decade, despite demographic changes. This could be attributed to various factors, including the town's relatively small size, the existing affordable housing stock, or other housing programs not captured in this data.
Stevensville's affordable housing landscape is characterized by a single LIHTC project, Burnt Fork Manor, which has served the community for over 30 years. This project provides important housing options, particularly for handicapped residents, but represents a small portion of the town's overall housing stock. The town has experienced population and income growth in recent years, which may influence future affordable housing needs. Despite these changes, no new LIHTC projects have been developed recently, suggesting that other factors or programs may be addressing affordable housing in Stevensville.
