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Dillon, Montana: Affordable Housing Stability through LIHTC Program
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dillon, a city in Montana, possesses a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has one LIHTC project, providing 24 low-income units. Based on the estimated 1,940 housing units in Dillon, the LIHTC-funded affordable housing comprises approximately 1.24% of the city's housing inventory.
Dillon has received $190,535 in project tax credits from the LIHTC program for affordable housing. This amount equates to an average federal funding of $190,535 per project and $7,939 per unit. The city holds 0.1% of Montana's total LIHTC funding, indicating a relatively small share of the state's affordable housing allocation.
The sole LIHTC project in Dillon, Snowcrest Apartments, was completed in 2005. This project has been providing affordable housing in the city for over 15 years. The Snowcrest Apartments consist of 24 units, comprising 16 two-bedroom and 8 three-bedroom units, catering to various family sizes.
Over the past decade, Dillon's population has remained relatively stable, fluctuating between 5,000 and 5,500 residents. The median income has shown some variability, ranging from about $45,000 to $56,000. The racial composition of Dillon has been predominantly white, consistently above 90%, with small percentages of Hispanic, Native American, and other racial groups.
The absence of additional LIHTC projects in recent years could be attributed to the relatively stable population and income levels, which may not have indicated a significant increase in demand for affordable housing. However, other factors and housing programs not captured in this data could also influence the affordable housing landscape in Dillon.
Dillon's LIHTC-funded affordable housing inventory consists of a single project, Snowcrest Apartments, providing 24 low-income units. This represents a small portion of the city's estimated housing stock. The project, completed in 2005, has been a long-standing contributor to affordable housing in the area. While demographic trends show stability in population and income levels, a comprehensive assessment of affordable housing needs would require consideration of additional factors and potential housing programs beyond LIHTC.
