Carson City, NV -
March 23, 2015The
Nevada Housing Division (NHD) has published its annual report on affordable multi-family
housing, Taking Stock: Nevada’s 2014
Affordable Apartment Survey. The
report was issued after carrying out a survey of the Division’s Low Income
Housing Tax Credit properties during the fourth quarter of 2014.
The
survey focused on Nevada’s Low Income Housing Tax Credit (LIHTC) properties
which account for 23,740 units statewide. The LIHTC program, administered by
the Division, allocates Nevada’s share of federal housing tax credits each year
to developers for specific affordable apartment communities for seniors and
families.
The 2014 annual
survey found:
·
Decreased vacancy trends highlight the need
for more affordable housing. The overall vacancy rate for LIHTC properties
decreased by two points from 7 percent in the 4th quarter of 2013 to
5 percent in the 4th quarter of 2014.
·
High demand for one bedroom units in
mining workforce centers. Vacancy rates for LIHTC one bedroom units in mining
counties was 0.6%.
·
Need is great for affordable senior
housing throughout the state. Senior and senior/disabled properties reported
vacancy rates at least 2.5 points lower than family properties.
·
Nine percent of LIHTC properties
advertise specifically to veterans.
·
Waiting lists existed at over 60% of
LIHTC communities.
·
LIHTC properties reported a reduced
level of rent skipping at 13 per year - per hundred units in 2014 as compared
to 15 per year - per hundred units in 2013.
To
view the full report, please visit the Nevada Housing Division’s website- http://housing.nv.gov.
About the Nevada Housing Division
The
Nevada Housing Division was created by the Nevada Legislature in 1975, when it
was recognized that a shortage of safe, decent, and sanitary housing existed
throughout the State for low- and moderate-income Nevadans. Their mission is to
improve quality of life by providing affordable housing opportunities. For more
information visit www.housing.nv.gov.
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