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Affordable Housing in Zip Code 59911: LIHTC Projects in Bigfork, 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 59911, located in Bigfork, Montana, contains 55 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. These units represent 1.68% of the estimated 3,269 total housing units in the zip code. All 55 LIHTC-funded units are designated as low-income units.
The LIHTC projects in zip code 59911 have received $751,938 in tax credits, averaging $13,671 per unit. This funding accounts for 0.41% of the total LIHTC credits allocated to Montana. Affordable housing has been present in this zip code since at least 2008, with the completion of the Crestview Apartments. The most recent project, Little Jon Apartments, was completed in 2017.
The LIHTC-funded housing inventory in zip code 59911 comprises 24 one-bedroom units, 10 two-bedroom units, and 3 three-bedroom units. This distribution indicates a focus on accommodating smaller households and families.
The population in zip code 59911 has grown from 7,142 in 2014 to 8,533 in 2022. This growth may have contributed to the need for additional affordable housing options, as evidenced by the completion of the Little Jon Apartments in 2017.
Median income in the zip code has increased from $56,680 in 2014 to $69,732 in 2022. Despite this rise, the continued presence of LIHTC projects suggests an ongoing need for affordable housing options, possibly due to income disparities within the community.
The racial composition of zip code 59911 has remained relatively stable, with a slight decrease in the white population from 94% in 2014 to 88% in 2022. The Hispanic population has grown from 3% to 6% during this period. This demographic shift may influence future affordable housing needs and development strategies.
Zip code 59911 in Bigfork, Montana, has a modest but significant LIHTC-funded affordable housing inventory. The area has seen two LIHTC projects completed over nearly a decade, with a total investment of $751,938 in tax credits. The housing mix primarily consists of one and two-bedroom units. Despite rising median incomes, the continued presence of LIHTC projects suggests an ongoing need for affordable housing in this growing and slightly diversifying community.
