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Affordable Housing in Zip Code 59526: A Study of Fort Belknap Agency, Montana's LIHTC Program
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fort Belknap Agency, Montana, zip code 59526, is a rural area with a notable affordable housing presence. The Low-Income Housing Tax Credit (LIHTC) program has funded 87 affordable housing units in this zip code, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 320 units, LIHTC-funded affordable housing comprises about 27.2% of the zip code's housing stock, indicating a substantial proportion of affordable housing options.
The LIHTC projects in zip code 59526 have received $947,184 in tax credits, averaging approximately $10,887 per unit in federal funding. This represents 0.51% of Montana's total LIHTC funding, which is significant for a rural area. Affordable housing has been present in this zip code for over two decades. The first LIHTC project, Fort Belknap Agency 1, was completed in 2002, while the most recent, Fort Belknap Tax Credit LP 3, was finished in 2008. The decade of the 2000s saw the most affordable housing development activity in this area.
The LIHTC-funded housing inventory in zip code 59526 consists primarily of three-bedroom units (78), with some four-bedroom units (7) and two-bedroom units (2). This distribution suggests a focus on accommodating families or larger households. Over the past decade, the population in this zip code has fluctuated, with a slight overall increase from 719 in 2015 to 836 in 2022. The median income has shown a significant upward trend, rising from $35,493 in 2015 to $50,239 in 2022, which could indicate improving economic conditions.
The racial composition of zip code 59526 has remained relatively stable, with a notable Native American population (around 39% in 2022) and a majority white population (51% in 2022). The Hispanic population has shown a slight increase from 1% in 2015 to 5% in 2022. Despite the lack of new LIHTC projects in the last decade, the existing affordable housing stock continues to play a crucial role in the community. The stable population and increasing median income suggest that the current affordable housing inventory may be meeting the area's needs, although ongoing assessment would be necessary to ensure this remains the case.
Zip code 59526 in Fort Belknap Agency, Montana, has a significant LIHTC-funded affordable housing presence, covering over a quarter of the estimated housing stock. The area has seen consistent investment in affordable housing through the LIHTC program, particularly in the 2000s. The housing units are predominantly family-sized, aligning with the needs of the local population. While no new LIHTC projects have been developed in the last decade, the existing inventory continues to serve the community amidst gradually improving economic conditions and a stable population.
