Loading Content...
Affordable Housing in Highland Hills: LIHTC Projects Shape Neighborhood Dynamics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Highland Hills, a neighborhood in Henderson, Nevada, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 249 total units, all designated as low-income units. Based on the 2022 population of 11,645 and using the national average household size, the estimated housing units in the neighborhood are approximately 4,462. The LIHTC funded affordable housing represents about 5.6% of the estimated housing inventory in Highland Hills.
The LIHTC projects in Highland Hills have received $16,530,976 in project tax credits, averaging approximately $66,390 per unit in federal funding. The neighborhood has witnessed LIHTC projects from 2002 to 2015, indicating over a decade of affordable housing presence. The earliest LIHTC project, Horizon Seniors, was completed in 2002, while the most recent, Boulder Pointe Apartments, was finished in 2015. The 2010s saw the largest investment in affordable housing with the completion of Boulder Pointe Apartments.
The LIHTC projects in Highland Hills include 88 one-bedroom units and 14 two-bedroom units. This distribution suggests a focus on smaller households and potentially senior living arrangements.
Highland Hills has experienced steady population growth over the past decade, increasing from 9,030 in 2010 to 11,645 in 2022. The median income has also risen significantly, from $64,862 in 2013 to $79,781 in 2022, indicating improving economic conditions in the neighborhood.
Racial demographics have shifted slightly, with the white population decreasing from 80% in 2013 to 69% in 2022. There has been an increase in the Hispanic population, rising from 12% to 15% during the same period. The Asian population has also grown from 3% to 7%.
The completion of Boulder Pointe Apartments in 2015 aligns with a period of population growth and increasing diversity in the neighborhood. This suggests that the LIHTC project may have been developed in response to changing demographic needs and growing demand for affordable housing options.
Highland Hills demonstrates a commitment to affordable housing through its LIHTC funded projects, which cover about 5.6% of the estimated housing inventory. The neighborhood has seen significant investment in affordable housing, with an average of $66,390 in federal funding per unit. The LIHTC projects span over a decade, with the most recent development completed in 2015. The neighborhood has experienced population growth and increasing median incomes, while the racial composition has become more diverse. These demographic shifts may have influenced the need for and development of affordable housing options in Highland Hills.
