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Affordable Housing in Whitney: LIHTC Impact on Nevada City's Housing Inventory
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Whitney, Nevada, possesses a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 649 affordable housing units, of which 579 are designated as low-income. This LIHTC-funded housing represents approximately 3.6% of Whitney's estimated 18,200 housing units.
Whitney has received $12,338,219 in project tax credits from the LIHTC program. With approximately 5 projects, this equates to an average of $2,467,644 in federal funding per project. The funding amounts to about $19,011 per unit. Whitney's share of Nevada's total LIHTC funding is 3.3%, indicating substantial investment in the city's affordable housing.
The city's LIHTC projects span a 16-year period, with the first project completed in 2002 (Silver Creek) and the most recent in 2018 (Russell Seniors III). The 2010s saw the highest number of affordable housing project completions, with three projects: Tempo Senior Apts (2014), Russell Senior Apts. Ph. II (2016), and Russell Seniors III (2018).
The LIHTC-funded projects in Whitney offer diverse unit types. Of the 649 total units, there are 147 one-bedroom, 285 two-bedroom, and 46 three-bedroom units. This distribution indicates an emphasis on accommodating various household sizes, particularly smaller families or individuals.
Whitney's population has grown from 40,846 in 2011 to 47,503 in 2022. The median income has remained relatively stable, ranging between $49,928 and $56,296 during this period. Regarding racial demographics, the Hispanic population increased from 37% in 2013 to 41% in 2022. The Asian population remained stable at 11-13%, while the White population decreased from 36% to 29%. The Black population remained consistent at 10-11%.
The completion of three LIHTC projects in the 2010s corresponds with the city's population growth and stable median income, suggesting a response to increased housing demand and continued need for affordable options.
Whitney maintains a moderate LIHTC-funded affordable housing inventory, comprising about 3.6% of the estimated housing stock. The city has demonstrated consistent development of affordable housing projects over nearly two decades, with particular focus in the 2010s. The diverse unit types cater to various household sizes, while demographic trends show population growth and shifts in racial composition. The stable median income and continuous LIHTC investments indicate an ongoing commitment to providing affordable housing options in Whitney.
