Did you know a state with just 𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐩𝐞𝐨𝐩𝐥𝐞 𝐢𝐬 𝐨𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐦𝐚𝐣𝐨𝐫 𝐜𝐨𝐚𝐬𝐭𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐢𝐧 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐡𝐨𝐮𝐬𝐢𝐧𝐠?

 What Montana Teaches Us About Affordable Housing Leadership 

When most people think about affordable housing leadership, their minds go to major coastal markets. Cities with millions of residents, deep funding streams, and complex political landscapes. But this week, while visiting properties in Montana, I was reminded of a striking truth: leadership in affordable housing is not always about size. 

Montana, with a population of just over one million people, is outperforming many coastal states when it comes to the share of subsidized housing units. In fact, it leads the West in percentage terms. For a state better known for wide-open spaces than dense urban centers, that reality is both surprising and instructive. 

The Critical Role of Project-Based Vouchers 

The lesson comes down to commitment. Montana has leaned into project-based vouchers in ways that preserve and protect affordability for the long term. These vouchers are not just paperwork or subsidies. They are lifelines. They allow families to remain stable in their communities. They ensure that developers can keep properties financially viable while serving households who need support. And they anchor affordability in markets where rising costs could otherwise displace entire populations. 

During my visits, I saw firsthand how this plays out. Residents in properties with project-based voucher support were not just surviving. They were building lives, raising families, and contributing to their communities with confidence that their housing was secure. That is not an abstract statistic. That is dignity, stability, and the foundation for opportunity. 

What the Data Shows 

The Yardi Affordable Housing and PHA Briefing made it clear: Northeastern states are setting the pace nationally when it comes to subsidized housing, but Montana’s performance shows that leadership is not determined by scale. It is determined by will. A state with just a fraction of the population of New York or California can still stand out nationally if it makes a sustained commitment to building, preserving, and expanding affordable housing units. 

For operators and policymakers alike, this matters. Too often, smaller states or rural markets are overlooked in national housing conversations. But the Montana example shows that innovation and leadership can emerge from anywhere. 

Responsibility for the Future 

Affordable housing providers carry a responsibility that extends beyond meeting today’s demand. The real challenge is securing tomorrow’s stability. That means ensuring that affordability is not lost to expiring covenants, deferred maintenance, or market pressures that slowly erode accessibility. 

Project-based vouchers are one tool, but the larger point is this: long-term stability comes from long-term vision. It requires seeing affordable housing not as a crisis response but as infrastructure, as essential to the health of communities as roads and schools. 

Lessons for Operators 

For those of us leading operations, there are a few clear takeaways from Montana’s example: 

• Commitment matters more than size. Even a small state can lead when it prioritizes affordability. The same is true for individual portfolios. You do not need to be the largest operator to set the standard. 

• Vouchers provide more than funding. They create security for residents and predictability for owners. They keep the financial equation balanced in ways that allow communities to thrive. 

• Preservation is as important as new development. Building new units is critical, but so is preserving the affordability of existing stock. Losing affordable units is a setback that takes decades to recover from. 

A Story from the Field 

One resident I met in Montana shared how a project-based voucher allowed her to stay in her community after a sudden job loss. Without it, she would have had to move hundreds of miles away to find something affordable. Instead, she stayed close to her children’s school, maintained her support network, and found new work within months. That stability kept her family intact and her life on track. 

Stories like this remind us why the work matters. Behind every chart and projection is a person whose future is shaped by the policies and priorities we put in place today. 

Executive Reflection 

Montana’s leadership in affordable housing is not about population size or coastal resources. It is about commitment. It is about choosing to protect and expand affordability even when the market pressures run in the opposite direction. 

As affordable housing providers, our responsibility is the same. To build where we can, to preserve what we have, and to plan not just for today’s demand but for tomorrow’s stability. 

At Weishaar Strategic Partners, we help operators and leaders think long-term, building systems and strategies that ensure affordability is not just delivered but sustained. 

The question worth asking is this: Are we treating affordable housing as a short-term program, or as a long-term foundation for community health? 

Because if Montana can lead the West with one million people, imagine what is possible if every market treated affordability with the same level of commitment.