The 2016 Regional Housing Study shows an unmet need for about 12,160 housing units to serve the local workforce of the region.
Of those units, over half (57%) are needed for households earning moderate incomes (> 80% AMI) or above. There are no federal and very few state and local subsidy programs which provide financial support for housing programs serving households earning more than 80% of the Area Median Income (AMI) and there are no government subsidy programs for the Above Moderate (> 120% AMI) income level households. In North Tahoe-Truckee, a household of four needs to make more than 195% AMI to afford an average market-rate home priced at about $550,000 as of 2016.
In order to begin to serve a range of housing needs in the area, a new way of defining and addressing the need is required.
Following is the Mountain Housing Council’s response to and work on this issue: