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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Superior, Montana, a small town, has a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The town contains 32 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 450 units for the 2022 population, the LIHTC funded affordable housing comprises approximately 7.1% of the city's housing inventory.
Superior has received $497,001 in project tax credits from the LIHTC program for affordable housing. With two LIHTC projects in the town, this averages to $248,500.50 per project. The average federal funding per unit is $15,531.28. Superior holds 0.27% of Montana's total LIHTC funding.
The first LIHTC project in Superior, Cottages At Edna Court, was completed in 1999, while the most recent project, Superior Commons, was finished in 2011. This indicates that affordable housing has been present in the city for over two decades. The 2010s saw the most recent affordable housing development in Superior.
The LIHTC funded housing in Superior consists of 7 one-bedroom units, 13 two-bedroom units, and 12 three-bedroom units. This diverse mix of unit sizes suggests an effort to accommodate various household compositions within the affordable housing inventory.
Over the last decade, Superior's population has fluctuated, ranging from a low of 719 in 2017 to a high of 1,174 in 2022. The median income has shown an overall upward trend, increasing from $32,410 in 2013 to $43,412 in 2022, with some fluctuations in between. The racial composition of Superior has remained predominantly white, consistently above 86% throughout the decade, with small increases in diversity, particularly in the Native American and Hispanic populations.
Despite these demographic changes, no new LIHTC projects have been built in Superior since 2011. This could be due to various factors, including the relatively stable population size and increasing median income, which might indicate a reduced need for additional low-income housing units.
Superior's LIHTC funded affordable housing inventory, while modest, provides 32 low-income units across two projects. These units account for approximately 7.1% of the estimated housing inventory. The town has received nearly half a million dollars in tax credits, representing a small but significant portion of Montana's LIHTC funding. The existing projects offer a mix of unit sizes to accommodate different household needs. While demographic trends show some population fluctuation and income growth over the past decade, no new LIHTC projects have been developed since 2011, suggesting that the current inventory may be meeting the town's immediate affordable housing needs.