Loading Content...
Affordable Housing in Zip Code 89445: Two Decades of LIHTC Development in Nevada's Grass Valley
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 89445 in Nevada, which includes the Grass Valley area, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code covers an area of 2,491.6 square miles and had a population of 13,963 as of 2022. The LIHTC program has funded 315 affordable housing units in this area, with 275 specifically designated as low-income units. Based on an estimated housing inventory of 5,350 units, LIHTC-funded affordable housing comprises approximately 5.9% of the zip code's housing stock.
The LIHTC projects in zip code 89445 have received $1,916,374 in tax credits, averaging about $6,083 per unit in federal funding. This zip code accounts for 0.51% of Nevada's total LIHTC funding, indicating a modest but notable contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code since 1992, when the first LIHTC project, Humboldt Village Family, was completed. The most recent projects, Larios Arrms II and Sonoma Springs, were finished in 2016, spanning over two decades of affordable housing development. The 2000s saw the most activity in affordable housing construction, with multiple projects completed during this decade, including Mountain View, Sunrise Quarters, and Humboldt Village Apartments.
The LIHTC-funded housing in zip code 89445 offers a diverse range of unit types. Of the 315 total units, there are 120 one-bedroom units, 123 two-bedroom units, 13 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with an emphasis on smaller households.
The population in this zip code has shown a slight upward trend over the past decade, increasing from 13,491 in 2013 to 13,963 in 2022. The median income has fluctuated, peaking at $80,748 in 2018 but settling at $70,005 in 2022. This variability in income levels may indicate an ongoing need for affordable housing options.
Racial demographics in zip code 89445 have remained relatively stable, with a slight decrease in the white population from 68% in 2013 to 62% in 2022, and a corresponding increase in the Hispanic population from 27% to 32% over the same period. This gradual shift in demographics could influence future affordable housing needs and strategies.
The LIHTC program has played a significant role in providing affordable housing in zip code 89445, with 315 units funded over more than two decades. These units represent about 5.9% of the estimated housing stock and contribute to addressing the area's affordable housing needs. The diverse unit types cater to various household sizes, and the consistent development of LIHTC projects over time suggests an ongoing commitment to affordable housing in this area. As demographics continue to evolve, monitoring and adapting to changing housing needs will be crucial for future affordable housing initiatives in zip code 89445.
