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Glendive, Montana: LIHTC Program Shapes Affordable Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Glendive, a city in Montana, has a population of 4,910 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 45 total units, with 18 of these designated as low-income units. Based on the estimated housing inventory of 1,881 units, the LIHTC-funded affordable housing covers approximately 2.39% of the city's housing stock.
Glendive has received $4,677,835 in project tax credits through the LIHTC program. With two approximate projects, this translates to an average of $2,338,917.50 in federal funding per project. The average federal funding per unit is $103,952.11. Glendive holds 2.54% of Montana's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city's LIHTC-funded affordable housing spans from 2009 to 2015, with Makoshika Estates being the first project and Yellowstone Commons the most recent. This six-year period demonstrates the city's ongoing commitment to affordable housing development. The 2010s saw the most affordable housing activity in Glendive, with both LIHTC projects completed during this decade.
The affordable housing inventory in Glendive consists of 12 one-bedroom units, 24 two-bedroom units, and 9 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a slight emphasis on two-bedroom units.
Over the past decade, Glendive's population has remained relatively stable, fluctuating between 5,200 and 5,400 residents. The median income has shown some variability, peaking at $57,257 in 2014 and declining to $48,060 in 2022. This trend might indicate an ongoing need for affordable housing options.
The racial composition of Glendive has remained predominantly white, consistently above 90% throughout the decade. There has been a slight increase in diversity, with small percentages of Black, Hispanic, and Native American residents. This demographic stability may have influenced the pace of LIHTC development in the city.
Glendive's LIHTC-funded affordable housing inventory, while modest, provides 45 units to the community, with 18 specifically designated for low-income residents. The city has leveraged nearly $4.7 million in tax credits, representing 2.54% of Montana's LIHTC allocation. The development of these projects between 2009 and 2015 demonstrates a consistent effort to address affordable housing needs. The unit mix, favoring one and two-bedroom apartments, appears to cater to diverse household sizes. While demographic trends have remained relatively stable, the fluctuations in median income suggest an ongoing need for affordable housing options in Glendive.
