Loading Content...
Affordable Housing in Zip Code 59829: A Unique Rural LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 59829, located in Conner, Montana, exhibits a distinctive rural setting with a population density of 3.16 people per square mile as of 2022. This area, home to 2,143 residents, features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The zip code contains 16 affordable units, all designated as low-income units. Based on an estimated housing inventory of 821 units, LIHTC funded affordable housing comprises approximately 1.95% of the zip code's housing stock.
The LIHTC program has invested $162,500 in tax credits for affordable housing projects in this zip code. With 16 total units funded, this equates to an average federal funding of $10,156 per unit. Notably, this zip code accounts for 0.09% of Montana's total LIHTC funding allocation.
Affordable housing has been present in this community for nearly two decades. The first LIHTC project, Bitterroot Commons, was completed in 2003, followed by Bitterroot Commons II in 2004. These projects mark the beginning and end of LIHTC development in the area, with the early 2000s being the most active period for affordable housing construction in this zip code.
All 16 LIHTC-funded units in the zip code are two-bedroom apartments, providing housing options for small families or individuals requiring additional space. This uniform unit type suggests a specific housing need in the community that these projects aimed to address.
Over the past decade, the zip code has experienced modest population fluctuations, with a slight increase from 2,011 residents in 2016 to 2,143 in 2022. Median income has shown an upward trend, rising from $41,192 in 2016 to $49,842 in 2022, indicating improving economic conditions for residents.
Racial demographics have remained relatively stable, with a predominantly white population. However, there has been a slight increase in diversity, with the percentage of residents identifying as white decreasing from 93% in 2016 to 87% in 2022. The proportion of residents identifying as two or more races has increased from 3% to 7% during the same period.
The lack of new LIHTC projects in the last decade could be attributed to the rising median income and relatively stable population, potentially indicating a reduced need for additional affordable housing units.
Zip code 59829 in Conner, Montana, demonstrates a focused approach to affordable housing through two LIHTC projects completed in the early 2000s. These projects provide 16 two-bedroom units, accounting for nearly 2% of the estimated housing stock. While the area has seen modest income growth and slight increases in diversity over the past decade, the absence of new LIHTC developments suggests that the initial projects may have adequately addressed the immediate affordable housing needs of this rural community.
