Loading Content...
Affordable Housing in Green Valley Ranch: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Green Valley Ranch, a neighborhood in Henderson, Nevada, features 156 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 155 designated as low-income units. Based on the 2022 population of 18,442 and the national average household size of 2.61, an estimated 7,066 housing units exist in the neighborhood. The 155 low-income units comprise approximately 2.2% of this estimated housing inventory.
The LIHTC program has invested $433,062 in project tax credits in Green Valley Ranch. This equates to an average federal funding of $2,776 per unit in LIHTC-funded projects. The neighborhood's affordable housing is represented by a single project: Horizon Pines Senior Apartments, completed in 2002.
Horizon Pines Senior Apartments offers 16 one-bedroom and 14 two-bedroom units, catering to diverse senior household needs. This project marks the beginning of LIHTC-funded affordable housing in Green Valley Ranch, establishing a two-decade presence of subsidized housing in the community.
Green Valley Ranch has experienced significant demographic changes over the past decade. The population increased from 14,714 in 2012 to 18,442 in 2022, a 25% growth. Median income in the neighborhood rose from $89,980 in 2013 to $97,470 in 2022. These trends may influence the demand for affordable housing and highlight the importance of maintaining existing LIHTC units.
Racial demographics in the neighborhood have also shifted. The white population decreased from 77% in 2013 to 61% in 2022, while Asian, Black, Hispanic, and multiracial populations increased. This diversification could impact future affordable housing needs and strategies in Green Valley Ranch.
The affordable housing landscape in Green Valley Ranch is characterized by the Horizon Pines Senior Apartments, a single LIHTC-funded project serving the community since 2002. Although the 155 low-income units represent a small percentage of the estimated housing inventory, they provide crucial affordable options, particularly for seniors. The neighborhood's significant population growth, demographic changes, and longstanding presence of LIHTC-funded housing underscore the ongoing importance of affordable housing initiatives in meeting the evolving needs of the Green Valley Ranch community.
