Only A Third Of Renoites Can Afford To Buy A Home

Sep 24, 2016

Credit Dan Moyle / CC BY 2.0

Reno’s affordable housing challenges coincide with a national trend, and the city must develop a strategy on how to tackle the issue. That was the message presented to Reno City Council at a recent affordable housing workshop. Our reporter Bob Conrad was there and has the story.

 

att Prosser, right, vice president of Economic & Planning Systems, a consultant on Reno’s master plan.
Credit ThisisReno.com

Matt Prosser is with the consulting firm Economic & Planning Systems. He and other presenters showed the council data about Reno’s needs for more housing options and higher quality housing. 

"Housing costs are growing faster than incomes, and that creates burden for a lot of communities, and so Reno's not alone in looking at affordable housing issues."

Prosser explained that single family detached homes are not a viable option for the average worker in Reno, and only one-third of Reno residents can actually afford to buy a home.

"They're everyday citizens, and they just happen to not earn enough to afford housing." 

While industrial development is helping to diversity Reno's economy, Prosser said the area needs jobs with higher incomes.