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Affordable Housing Trends in Franklin to the Fort: LIHTC Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Franklin to the Fort, a neighborhood in Missoula, Montana, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 71 total units, all designated as low-income units. Based on the 2022 population of 13,776 and using the national average household size, the estimated housing inventory is approximately 5,278 units. The LIHTC funded affordable housing covers about 1.35% of the estimated housing units in the neighborhood.
The LIHTC program has invested $495,000 in tax credits for affordable housing projects in Franklin to the Fort. This translates to an average of $6,972 in federal funding per unit. The neighborhood has seen LIHTC projects spanning several years, with Burlington Square being the earliest completed project in 1997 and Maclay Commons following in 2006. This indicates that affordable housing has been a part of the neighborhood's landscape for at least 25 years.
The 1990s saw the completion of Burlington Square, which is the largest LIHTC project in the neighborhood with 51 units. It primarily offers one-bedroom units (45) with a few two-bedroom units (6). Maclay Commons, completed in 2006, provides a mix of two-bedroom (8) and three-bedroom (8) units, adding diversity to the affordable housing options. The Mcdonald Rental project, while smaller with 4 units, contributes to the overall affordable housing stock in the area.
Over the past decade, Franklin to the Fort has experienced population growth, increasing from 12,078 in 2013 to 13,776 in 2022. The median income has also risen, from $49,981 in 2013 to $54,997 in 2022, indicating some economic improvement in the area. However, this increase may also suggest a growing need for affordable housing options as cost of living potentially rises.
Racial demographics have shown slight shifts, with the white population decreasing from 92% in 2013 to 87% in 2022. There has been a small increase in diversity, with slight growth in Asian, Black, Hispanic, and multi-racial populations. This diversification may indicate changing housing needs within the community.
The lack of new LIHTC projects in recent years, despite population growth and income changes, could suggest that other affordable housing programs may be addressing the neighborhood's needs, or that there might be a gap in affordable housing provision that needs attention.
Franklin to the Fort's LIHTC funded affordable housing inventory, while modest in comparison to the estimated total housing units, provides important low-income housing options. The neighborhood has seen LIHTC investments spanning over two decades, with projects offering a range of unit sizes to accommodate different household needs. The demographic trends indicate a growing and diversifying population with rising incomes, which may influence future affordable housing needs in the area. Continued monitoring of these trends will be crucial for ensuring that affordable housing provision aligns with the evolving needs of the Franklin to the Fort community.
