Loading Content...
Affordable Housing in Jackpot: LIHTC's Impact on a Small Nevada Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jackpot, Nevada, a small city with a population of 1,483 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 19 low-income units, representing approximately 3.3% of the city's estimated housing stock of 568 units.
Jackpot has received $288,449 in project tax credits from the LIHTC program for affordable housing. This equates to an average federal funding of $15,181 per unit. The city holds 0.08% of the total state funding for LIHTC projects in Nevada.
The San Jacinto Apartments, completed in 2002, is the sole LIHTC funded project in Jackpot. This project has been providing affordable housing in the city for over two decades. The San Jacinto Apartments consist of 19 units, all of which are designated as low-income units. The project includes 8 two-bedroom units, with the breakdown for other unit types not specified.
Over the last decade, Jackpot's population has fluctuated, showing a slight overall decline from 1,888 in 2015 to 1,483 in 2022. The median income has increased from $26,201 in 2015 to $31,154 in 2022, indicating a gradual improvement in economic conditions.
Regarding race distribution, the Hispanic population has remained the largest group, comprising 65% of the population in 2022, up from 59% in 2015. The white population has decreased from 41% in 2015 to 30% in 2022. There has been a slight increase in racial diversity, with the percentage of residents identifying as two or more races growing from 0% in 2015 to 5% in 2022.
Jackpot's LIHTC funded affordable housing inventory consists of a single project, the San Jacinto Apartments, which has been serving the community since 2002. The 19 low-income units represent a small percentage of the city's estimated housing stock, providing an important resource for affordable housing in the community. The city has experienced slight population decline and income growth over the past decade, with an increasing Hispanic population and growing racial diversity. These demographic shifts may influence future affordable housing needs in Jackpot.
