The LIHTC-funded housing stock in Billings offers a range of unit types, including 43 efficiencies, 281 one-bedroom units, 292 two-bedroom units, 52 three-bedroom units, and 14 four-bedroom units. This distribution accommodates various household sizes and needs within the low-income population.

Billings has experienced steady population growth over the past decade, increasing from 109,062 in 2013 to 119,969 in 2022, a 10% increase. This growth suggests an increasing demand for housing, including affordable options. The median income has risen significantly, from $49,247 in 2013 to $77,711 in 2022, a 57.8% increase. Despite this overall income growth, the need for affordable housing persists for lower-income residents.

Racial demographics in Billings have remained relatively stable, with the white population comprising the majority (82% in 2022). There has been a slight increase in diversity, with the Hispanic population growing from 6% in 2016 to 8% in 2022, and the Native American population consistently representing about 4-5% of the population.

Billings' LIHTC-funded affordable housing program has made a notable contribution to the city's housing landscape. While the 828 units represent a small percentage of the city's total estimated housing inventory, they are an important component in addressing affordable housing needs. The city's population growth and rising median income indicate an evolving housing market, potentially increasing the importance of affordable housing options for lower-income residents. The diversity of unit types in LIHTC projects demonstrates an effort to accommodate various household sizes within the low-income population.