Affordable Housing In Sun Valley
Washoe County, Nevada

1 Low Income Apartment Communities In Sun Valley

Housing Authorities that serve Sun Valley

Housing Authority	Programs
Reno Housing Authority	Section 8 Housing Choice Voucher (HCV); Public Housing; Moving to Work

Guide To Affordable Housing in Sun Valley, Nevada

According to federal housing data and AffordableHousingOnline.com research, there are 1 low income housing apartment communities offering 250 affordable apartments for rent in Sun Valley, Nevada. Sun Valley features 0 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 250 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Sun Valley.

Sun Valley, NV Affordable Housing Snapshot

Total Affordable Apartment Properties	1
Total Low Income Apartments	250
Total Housing Units with Rental Assistance	0
Percentage of Housing Units Occupied By Renters	31.24%
Average Renter Household Size	3.48
Average Household Size	3.13
Median Household Income	$44,013 ±$3,720
Median Rent	$957 ±$74
Percentage Of Renters Overburdened	48.7% ± 9.57pp
Total Population	19,663

Population and Household Demographics

Sun Valley is a City in Washoe County, Nevada with a population of 19,663. There are 6,284 households in the city with an average household size of 3.13 persons. 31.24% of households in Sun Valley are renters.

Income and Rent Overburden in Sun Valley

The median gross income for households in Sun Valley is $44,013 a year, or $3,668 a month. The median rent for the city is $957 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sun Valley, a household making less than $3,190 a month would be considered overburdened when renting an apartment at or above the median rent. 48.7% of households who rent are overburdened in Sun Valley.¹

Area Median Income In Sun Valley

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Sun Valley, the AMI is calculated from all households within Washoe County.

In Sun Valley, HUD calculates the Area Median Income for a family of four as $78,100

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Sun Valley

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Sun Valley HUD Rental Assistance in Sun Valley

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$16,450	$18,800	$21,330	$25,750	$30,170	$34,590	$39,010	$43,430
50% of Median	$27,350	$31,250	$35,150	$39,050	$42,200	$45,300	$48,450	$51,550
80% of Median	$43,750	$50,000	$56,250	$62,500	$67,500	$72,500	$77,500	$82,500

Low Income Housing Tax Credits in Sun Valley

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1999 to 1999, 1 low income apartment communities containing 250 rental apartments have been constructed and made affordable to low income persons in Sun Valley by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Sun Valley

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
50% of Median	$27,350	$31,250	$35,150	$39,050	$42,200	$45,300	$48,450	$51,550
60% of Median	$32,820	$37,500	$42,180	$46,860	$50,640	$54,360	$58,140	$61,860

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Sun Valley is $42,180 a year, or $3,515 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,515 by 30% to get a maximum rent of $1,055 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI	Studio	1 Bed	2 Bed	3 Bed	4 Bed	5 Bed
50%	$684	$733	$879	$1,016	$1,133	$1,250
60%	$821	$879	$1,055	$1,219	$1,359	$1,500

Fair Market Rents in Sun Valley

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents

Studio	One BR	Two BR	Three BR	Four BR
$698	$846	$1,071	$1,545	$1,880