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Affordable Housing in Zip Code 59758: LIHTC Investment in West Yellowstone, Montana
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59758, located in West Yellowstone, Montana, contains a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 39 affordable housing units, all of which are categorized as low-income units. These units constitute approximately 5.6% of the estimated 696 housing units in the zip code, based on the 2022 population and national average household size.
The LIHTC program has allocated $178,193 in tax credits for affordable housing projects in zip code 59758. This equates to an average federal funding of $4,569 per unit. Notably, this zip code accounts for 0.1% of Montana's total LIHTC funding allocation.
The Madison Apts project, completed in 1997, represents the only LIHTC-funded development in the area. This project has provided affordable housing options for over two decades. The development comprises 14 one-bedroom units and 25 two-bedroom units, offering a range of housing options for various household sizes.
Zip code 59758 has experienced population fluctuations over the past decade, with a notable increase from 1,429 in 2019 to 1,816 in 2022. The median income has also varied, rising from $48,048 in 2019 to $52,019 in 2022.
Racial demographics in zip code 59758 have shifted significantly. The white population percentage decreased from 97% in 2019 to 63% in 2022, while the Hispanic population increased from 0% to 32% during the same period. The Asian population remained stable at 2%, and 3% of residents now identify as two or more races.
The LIHTC program has made a modest contribution to affordable housing in zip code 59758, with 39 units representing about 5.6% of the estimated housing inventory. The sole project, Madison Apts, has been providing affordable housing options since 1997. Recent demographic shifts, including population growth and increased racial diversity, may influence future affordable housing needs in the area. The relatively low percentage of LIHTC-funded units compared to the total housing stock suggests potential opportunities for further affordable housing development to meet possible demand.
