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Affordable Housing in Sunrise Manor: LIHTC Impact on Nevada City's Housing Stock
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
United States Census Bureau: American Community Survey Data (ACS)
US Department of Housing and Urban Development (HUD): Low-Income Housing Tax Credit Properties (LIHTC)
Sunrise Manor, located in Nevada, has a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 2,564 units in LIHTC-funded projects, with 2,539 designated as low-income units. This accounts for approximately 3.26% of the city's estimated housing inventory of 78,538 units.
Sunrise Manor has received $9,796,690 in project tax credits through the LIHTC program. With approximately 16 projects, this averages to about $612,293 per project. The funding equates to an average of $3,820 per unit when considering all 2,564 units in LIHTC-funded projects. Notably, Sunrise Manor holds 2.62% of Nevada's total LIHTC funding.
The city's affordable housing development spans over two decades. The earliest LIHTC projects, Desert View Apartments and Pecos Terrace I, were completed in 1994. The most recent project with a known completion date is Summerhill, finished in 2016. The 1990s saw the most affordable housing development, with eight projects completed during that decade.
The LIHTC-funded projects in Sunrise Manor include 369 one-bedroom units, 732 two-bedroom units, 319 three-bedroom units, and 28 four-bedroom units. The data indicates a preference for two-bedroom units in the city's affordable housing stock. One notable project is the Orchard Club, completed in 2002, which specifically targets the handicapped population.
Over the past decade, Sunrise Manor's population has grown from 181,454 in 2013 to 204,985 in 2022, an increase of about 13%. During this period, the median income rose from $40,659 in 2013 to $58,130 in 2022, representing a 43% increase. The racial demographics have remained relatively stable, with the Hispanic population consistently representing the majority, increasing slightly from 52% in 2013 to 57% in 2022. The White population decreased from 28% to 19% during this period, while other racial groups remained relatively stable.
Despite the population growth and income increase, there have been few new LIHTC projects in recent years. This could suggest that other affordable housing initiatives may be addressing the city's needs, or that the focus has shifted to maintaining existing affordable housing stock.
Sunrise Manor's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has benefited from nearly $9.8 million in tax credits, supporting 16 projects over more than two decades. While recent years have seen fewer new LIHTC projects, the existing inventory provides a range of unit sizes to accommodate diverse household needs. The city's demographic trends, including population growth and increasing median income, may influence future affordable housing strategies in Sunrise Manor.
