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Affordable Housing in Whitefish, Montana: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Whitefish, Montana, a city near Glacier National Park, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 100 units, with 62 designated as low-income. This represents approximately 2% of the city's estimated 4,995 housing units.
Whitefish has received $405,500 in LIHTC project tax credits, distributed across approximately 4 projects. The average federal funding per project is $101,375, and the average per unit is $4,055. Whitefish's allocation accounts for 0.22% of Montana's total LIHTC funding.
The city's LIHTC funded affordable housing development occurred between 1992 and 2004, beginning with the Stonecreek Apartments and ending with the Mountain Senior Apts. The early 2000s were the most active period, with three projects completed between 2001 and 2004.
The affordable housing units in Whitefish consist of 48 one-bedroom, 20 two-bedroom, and 6 three-bedroom apartments, indicating a focus on smaller households and families.
Whitefish's population has grown from 11,296 in 2015 to 13,038 in 2022. The median income increased from $63,674 in 2015 to $72,609 in 2022. The racial composition has remained stable, with the white population consistently above 90%.
The absence of new LIHTC projects in the past decade, despite population growth, may be attributed to rising median income. However, increased incomes can lead to higher housing costs, potentially creating a need for more affordable options not reflected in the LIHTC data.
Whitefish's LIHTC funded affordable housing inventory represents a consistent effort to provide low-income housing options over more than a decade. The city's allocation of state LIHTC funding and focus on one and two-bedroom units suggest a targeted approach to addressing specific housing needs. As Whitefish continues to grow and evolve economically, ongoing assessment of affordable housing needs will be crucial to ensure a balanced and inclusive community.
