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Affordable Housing Dynamics in ZIP Code 89002: A Case Study of Henderson, Nevada
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 89002 in Henderson, Nevada, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 249 affordable units, all categorized as low-income units. Based on the 2022 population of 35,308 and an estimated 13,528 housing units, LIHTC-funded affordable housing comprises approximately 1.84% of the zip code's estimated housing inventory.
The LIHTC program has made substantial investments in this zip code, with project tax credits amounting to $16,530,976. This equates to an average federal funding of $66,390 per unit. Notably, this zip code accounts for 4.42% of Nevada's total LIHTC funding, indicating a considerable concentration of affordable housing investment in the area.
Affordable housing has been a feature of this zip code for over two decades. The first project, Horizon Seniors, was completed in 2002, while the most recent, Boulder Pointe Apartments, was finished in 2015. The 2010s witnessed the highest level of affordable housing development activity in this area.
The housing mix in LIHTC-funded projects includes 88 one-bedroom units and 14 two-bedroom units. This distribution suggests an emphasis on smaller households and potentially senior living arrangements, aligning with the presence of the Horizon Seniors project.
The zip code has experienced consistent population growth over the past decade, increasing from 31,652 in 2013 to 35,308 in 2022. This 11.6% population increase may have contributed to the demand for additional affordable housing, as evidenced by the 2015 completion of Boulder Pointe Apartments.
Median income in the zip code has fluctuated, rising from $80,903 in 2013 to $86,229 in 2022, with a peak of $95,156 in 2021. Despite the overall increase in median income, the continued presence of LIHTC projects indicates an ongoing need for affordable housing options.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 76% in 2013 to 69% in 2022, and increases in Hispanic (11% to 18%) and multi-racial (3% to 5%) populations. This gradual diversification may influence future affordable housing needs and project planning.
The 89002 zip code in Henderson, Nevada, demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. With 249 low-income units covering nearly 2% of the estimated housing inventory, these developments play a crucial role in addressing affordable housing needs. The area has seen significant federal investment, holding over 4% of Nevada's LIHTC funding. While demographic shifts have been gradual, the steady population growth and evolving racial composition may influence future affordable housing developments in this zip code.
