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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59824 in Montana, which includes the Kicking Horse area, contains 51 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units represent approximately 8.4% of the estimated 604 housing units in the zip code, based on the 2022 population and national average household size. The LIHTC projects in this zip code have received $528,281 in tax credits, averaging about $10,359 per unit. This zip code holds 0.29% of Montana's total LIHTC funding.
Affordable housing has been present in this zip code since at least 2003, with the completion of the Sparrow Lane Homes Phase II project. The most recent project, Turtle Lake Project, was completed in 2004. The early 2000s saw the most affordable housing development in this area. The LIHTC funded housing inventory in this zip code consists of 4 two-bedroom units, 32 three-bedroom units, and 15 four-bedroom units, suggesting a focus on accommodating larger families or households.
Over the past decade, the zip code's population has fluctuated, with a general downward trend from 1,651 in 2010 to 1,576 in 2022. Despite this population decrease, median income has shown an overall increase, rising from $37,498 in 2013 to $43,977 in 2022, with some fluctuations in between. The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 72% in 2019 to 63% in 2022. There has been a small increase in the Hispanic population from 4% to 7% during the same period. The Native American population has consistently represented a significant minority, ranging from 11% to 19% over the past decade.
These demographic shifts, particularly the increasing median income and relatively stable population, may explain why no new LIHTC projects have been developed in the area since 2004. However, the persistent presence of lower-income and minority populations suggests that the existing affordable housing continues to serve an important role in the community.
The LIHTC program has made a substantial contribution to affordable housing in zip code 59824, with 51 low-income units representing about 8.4% of the estimated housing stock. The projects, completed in the early 2000s, have received over half a million dollars in tax credits. While no new LIHTC projects have been developed in recent years, demographic trends show a complex picture of a changing community with ongoing affordable housing needs. The existing LIHTC-funded units, particularly those with multiple bedrooms, continue to play a crucial role in providing housing options for the area's diverse population.