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Affordable Housing Inventory Analysis in Zip Code 59937: LIHTC Funding and Demographic Trends in Whitefish, 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 59937, located in Whitefish, Montana, contains 110 total units of LIHTC funded affordable housing, with 63 designated as low-income units. This zip code spans 506.97 square miles and had a population of 14,799 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 5,670 units. The LIHTC funded affordable housing units represent about 1.94% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 59937 have received $475,515 in project tax credits, averaging approximately $4,323 per unit in federal funding. This zip code accounts for 0.26% of the total state LIHTC funding, indicating a relatively small portion of Montana's affordable housing investment in this area.
Affordable housing has been present in zip code 59937 for over a decade. The first LIHTC project, Stonecreek Apartments, was completed in 1992. The most recent projects, Hailey Apartments Whitefish and Mountain Senior Apts, were both completed in 2004. The early 2000s saw the most affordable housing development activity, with four out of five projects completed during this period.
The LIHTC funded projects in zip code 59937 offer a mix of unit types, with 50 one-bedroom units, 26 two-bedroom units, and 8 three-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
The population in zip code 59937 has shown steady growth over the past decade, increasing from 13,225 in 2015 to 14,799 in 2022. Median income has also risen significantly, from $62,855 in 2015 to $72,386 in 2022, with a peak of $82,197 in 2021. This upward trend in income might suggest a potential decrease in demand for affordable housing.
The racial composition of zip code 59937 has remained relatively stable, with the white population consistently representing over 94% of residents. There has been a slight increase in Hispanic representation, from 1% in 2015 to 3% in 2022, and a small rise in the percentage of residents identifying as two or more races, from less than 1% to 2% over the same period.
The LIHTC funded affordable housing in zip code 59937 represents a small portion of the estimated housing inventory. The area has seen modest investment in affordable housing through the LIHTC program, with projects dating back to the early 1990s and the most recent developments completed in 2004. The demographic trends show population growth and increasing median income, which may influence future affordable housing needs in this zip code. The relatively low percentage of LIHTC units compared to the estimated housing inventory suggests potential opportunities for additional affordable housing development to meet needs in this growing community.
