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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Southwest Reno, Nevada has a population of 43,092 as of 2022. The neighborhood contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 1,263 total units, of which 799 are designated as low-income units. This LIHTC-funded affordable housing represents approximately 7.6% of the neighborhood's estimated 16,510 housing units.
The LIHTC projects in Southwest Reno have received $5,697,235 in tax credits, averaging about $4,510 per unit in federal funding. Affordable housing has been present in this neighborhood for nearly three decades. The earliest recorded LIHTC projects, Skyline Apartments and Skyview Apartments, were completed in 1994. The most recent addition, Sky Mountain By Vintage, was completed in 2020.
The 1990s saw the most affordable housing development, with at least three projects completed during this decade. Notable projects include Southridge Apartments I (1995), Courtyard Centre Aka Studio III (2000), and Riverside Artist Lofts (2000). The LIHTC-funded housing in Southwest Reno offers a diverse range of unit types. Out of the 1,263 total units, there are 421 efficiencies, 276 one-bedroom units, 266 two-bedroom units, and 212 three-bedroom units. This distribution caters to various household sizes and needs.
Some projects target specific populations. For instance, Skyview Apartments is designed for individuals with disabilities, while City Center Apartments offers Single Room Occupancy (SRO) units, catering to very low-income individuals who may be at risk of homelessness.
Over the past decade, Southwest Reno has experienced steady population growth, increasing from 39,635 in 2013 to 43,092 in 2022. The median income has also risen, from $79,838 in 2013 to $86,960 in 2022. Despite this economic growth, the completion of Sky Mountain By Vintage in 2020 indicates a continued need for affordable housing.
The racial composition of the neighborhood has remained relatively stable, with a slight decrease in the white population (from 82% in 2013 to 77% in 2022) and small increases in Hispanic (from 7% to 12%) and Asian (from 4% to 5%) populations. This gradual diversification may influence future affordable housing needs.
Southwest Reno's LIHTC-funded affordable housing inventory provides a significant contribution to the neighborhood's housing stock, covering 7.6% of estimated units. The area has seen consistent development of affordable housing over nearly three decades, with projects catering to various needs, including those with disabilities and very low-income individuals. Despite rising median incomes, recent LIHTC developments suggest an ongoing demand for affordable housing. The neighborhood's changing demographics may shape future affordable housing initiatives in Southwest Reno.