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Affordable Housing Inventory in Zip Code 59901: Kalispell's Long-Term LIHTC Investment
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 59901 in Kalispell, Montana, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 640 affordable units, including 487 low-income units, representing approximately 2.73% of the estimated 23,429 total housing units in the zip code. The LIHTC projects in this zip code have received $27,174,213 in tax credits, averaging about $42,460 per unit in federal funding. This amount constitutes 14.76% of Montana's total LIHTC funding, indicating the area's importance in the state's affordable housing efforts.
Affordable housing has been a consistent priority in this zip code, with projects spanning from 1992 to 2018. The initial LIHTC project, Kalispell Senior Apartments, was completed in 1992, while the most recent additions, Big Sky Manor and Courtyard Apartments, were finished in 2018. This 26-year period demonstrates sustained investment in affordable housing. The 2000s experienced the most affordable housing activity, with multiple projects completed, including Westgate Senior Apartments, Centre Court Manor, Glacier Manor, Spring Creek Apartments, and Treasure State Plaza.
The housing inventory is diverse, comprising 50 efficiencies, 297 one-bedroom units, 165 two-bedroom units, and 96 three-bedroom units. This variety accommodates different household sizes and needs within the low-income population. One notable project, Westwind Village Apartments, completed in 1995, specifically targets individuals with disabilities, addressing the unique housing needs of this demographic.
Over the past decade, zip code 59901 has experienced steady population growth, increasing from 51,016 in 2013 to 61,149 in 2022. Median income has also risen, from $51,489 in 2013 to $60,203 in 2022. Despite this growth, the racial composition has remained relatively stable, with the white population consistently representing about 91-92% of residents. The continued development of LIHTC projects through 2018 suggests an ongoing need for affordable housing, even as the area's median income increased. This could indicate that while overall economic conditions improved, a segment of the population still requires affordable housing options.
Zip code 59901 in Kalispell, Montana, has a significant LIHTC-funded affordable housing presence, representing 14.76% of the state's total LIHTC funding. With 640 affordable units built over 26 years, the area has consistently invested in diverse housing options for low-income residents. While the LIHTC-funded units cover only a small percentage of the total estimated housing inventory, they play a crucial role in providing affordable options in a growing community with rising median incomes.
