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Affordable Housing in Black Mountain: LIHTC's Impact on a Diverse Henderson Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Black Mountain, a neighborhood in Henderson, Nevada, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area currently contains 391 total units in LIHTC-funded projects, with 367 of these designated as low-income units. Based on the 2022 population of 7,331 and using the national average household size, there are approximately 2,809 housing units in the neighborhood. The LIHTC-funded affordable housing represents about 13.9% of the estimated housing inventory, which approaches the target percentage for a well-balanced community.
The LIHTC program has invested substantially in Black Mountain, with project tax credits totaling $986,578. This equates to an average federal funding of about $2,523 per unit in LIHTC-funded projects. The neighborhood has had LIHTC-funded affordable housing since 1996, with the completion of Terracina Henderson Apartments Phases I & II. The most recent project, College Villas Senior Living Apartments, was completed in 2012, indicating a 16-year span of affordable housing development in the area.
The 1990s saw the most affordable housing development in Black Mountain, with Terracina Henderson Apartments being a significant project from that decade. The housing inventory includes a mix of unit types, with a majority being one-bedroom units (249), followed by two-bedroom units (102), and a smaller number of three-bedroom units (4).
Over the past decade, Black Mountain has experienced fluctuations in population, with a general upward trend from 6,415 in 2012 to 7,331 in 2022. The median income has shown variability, ranging from a low of $64,285 in 2019 to a high of $81,503 in 2021, before settling at $66,256 in 2022. This income fluctuation may indicate an ongoing need for affordable housing options.
Racial demographics have shifted notably, with the white population decreasing from 81% in 2015 to 64% in 2022. Concurrently, there has been an increase in Hispanic residents from 10% to 20%, and modest increases in other racial groups. This increasing diversity may suggest changing housing needs in the community.
While no new LIHTC projects have been completed in the last decade, the demographic trends, particularly the income fluctuations and increasing diversity, suggest that there may still be a need for affordable housing options in Black Mountain.
Black Mountain's LIHTC-funded affordable housing inventory comprises a significant portion of its estimated housing stock, approaching the target for a well-balanced community. The neighborhood has benefited from federal investment in affordable housing over a 16-year period, resulting in a diverse mix of unit types. While no new LIHTC projects have been completed recently, the changing demographics and income patterns suggest an ongoing need for affordable housing options. The existing LIHTC projects continue to play a crucial role in meeting the community's housing needs, particularly for low-income residents.
