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Butte-Silver Bow's LIHTC Affordable Housing: A Copper City's Modern Housing Landscape
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Butte-Silver Bow, a consolidated city-county in Montana, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 176 total units, with 122 designated as low-income units. This inventory represents approximately 1.3% of the city's estimated housing stock of 13,492 units.
Butte-Silver Bow has received $1,145,207 in project tax credits for affordable housing through the LIHTC program. This funding is distributed across four projects, resulting in an average federal funding of $286,302 per project and $6,507 per unit. The city's share of Montana's total LIHTC funding is 0.62%, indicating a relatively small portion of the state's affordable housing investment.
The presence of affordable housing in Butte-Silver Bow spans over two decades. The initial LIHTC project, Atherton Apts, was completed in 1999, while the most recent, Silver Bow Apartments, was finished in 2012. The 2010s marked the most significant period of affordable housing development, with two projects completed: Meadowlands Apartments in 2011 and Silver Bow Apartments in 2012.
The LIHTC-funded housing in Butte-Silver Bow offers a range of unit types, including 32 one-bedroom, 84 two-bedroom, and 60 three-bedroom units. This distribution indicates a focus on accommodating households of various sizes.
Butte-Silver Bow's population has grown modestly over the past decade, increasing from 34,321 in 2014 to 35,213 in 2022. The median income has shown an overall positive trend, rising from $42,251 in 2014 to $51,547 in 2022, suggesting improving economic conditions for residents.
Racial demographics have remained relatively stable, with the white population consistently representing approximately 90% of the total. A slight increase in diversity has occurred, with the Hispanic population growing from 3% to 5% between 2014 and 2022, and the percentage of residents identifying as two or more races increasing from 1% to 3%.
The completion of two LIHTC projects in the early 2010s coincides with a period of population growth and rising median income, suggesting a proactive approach to addressing affordable housing needs during a time of economic improvement.
Butte-Silver Bow's LIHTC-funded affordable housing inventory, while modest in size, provides important housing options for low-income residents. The city has maintained consistent investment in affordable housing over two decades, with projects adapted to various household sizes. Recent demographic trends, including population growth and increasing median income, underscore the ongoing importance of maintaining and potentially expanding affordable housing options to ensure inclusivity and accessibility for all residents.
