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Affordable Housing Analysis in Zip Code 89145: A Decade of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 89145 in Las Vegas, Nevada, contains a diverse affordable housing inventory funded through the Low-Income Housing Tax Credit (LIHTC) program. This area encompasses 258 total units in LIHTC-funded projects, with 30 units specifically designated as low-income. Based on the 2022 population of 28,102 and the national average household size, the estimated housing inventory in this zip code is approximately 10,767 units. The LIHTC-funded affordable housing represents about 2.4% of the estimated housing units in the zip code.
The LIHTC projects in zip code 89145 have received $9,551,891 in tax credits, which equates to an average of about $37,022 per unit when divided by the total number of units in LIHTC-funded projects. This zip code holds 2.55% of Nevada's total LIHTC funding, indicating a significant investment in affordable housing for this area.
The affordable housing presence in this zip code spans nearly a decade. The earliest project, Silver Sky Assisted Living Residence, was completed in 2006, and the most recent, Westcliff Heights Senior Apts, was finished in 2015. The 2010s saw the most activity in affordable housing development, with four out of five projects completed during this period. Notable projects include Westcliff Pines in 2010, followed by Westcliff Pines 2 and 3 in 2014.
The LIHTC-funded housing in zip code 89145 primarily consists of one-bedroom and two-bedroom units, with 180 one-bedroom and 70 two-bedroom units. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, zip code 89145 has experienced fluctuations in population, with a general upward trend. The population increased from 25,170 in 2010 to 28,102 in 2022. Median income has also risen, from $61,014 in 2013 to $66,705 in 2022, indicating improving economic conditions for residents.
The racial composition of the area has become more diverse over time. The white population decreased from 59% in 2013 to 49% in 2022, while the Hispanic population increased from 23% to 32% during the same period. The Asian and Black populations have remained relatively stable at around 7-8% each.
The completion of LIHTC projects between 2010 and 2015 coincides with a period of population growth and increasing diversity in the area. This suggests that the affordable housing development was responding to changing demographic needs and increasing demand for housing options.
Zip code 89145 in Las Vegas has a modest but significant LIHTC-funded affordable housing inventory, covering about 2.4% of the estimated housing units. The area has seen consistent investment in affordable housing over the past decade, with projects primarily focusing on one-bedroom and two-bedroom units. The demographic trends show a growing and diversifying population with rising median incomes, which may have influenced the development of affordable housing in the area. The LIHTC projects contribute to the affordable housing stock in this zip code.
