Working to accelerate solutions to achievable local housing in the North Tahoe-Truckee region.

Affordability Gap Between Income Levels and Housing Prices

Buying Power for Home Purchase by Income Level for Nevada County

For Family of 4

A family of four earning 100% of the area median income (in Nevada County) could afford a $350,196 priced home, but this is nowhere near the median home price in Truckee of $702,000. The median for-sale single-family home price is double what a household earning the median area income can afford.

Based on a comparison of the median sale price, it is clear that only Above Moderate income households earning greater than 200.5% of Nevada County’s area median income (215% for Placer County) would be able to afford the median sale price for single-family homes in the North Tahoe Truckee area without exceeding the 30% cost burden.

Income Level – 200.5% AMI

  • Annual Income – $185,262 85% 85%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $702,000 100% 100%
  • Median Home Price – $702,000 100% 100%
  • Gap – $0 5% 5%
  • Down Payment Required – $107,600 42% 42%

Income Level – 170% AMI

  • Annual Income – $157,080 70% 70%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $595,333 85% 85%
  • Median Home Price – $702,000 100% 100%
  • Gap – $106,667 20% 20%
  • Down Payment Required – $107,600 45% 45%

Income Level – 120% AMI

  • Annual Income – $110,900 60% 60%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $420,311 60% 60%
  • Median Home Price – $702,000 100% 100%
  • Gap – $281,689 40% 40%
  • Down Payment Required – $107,600 55% 55%

Income Level – 100% AMI

  • Annual Income – $92,400 50% 50%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $350,196 50% 50%
  • Median Home Price – $702,000 100% 100%
  • Gap – $351,804 50% 50%
  • Down Payment Required – $107,600 60% 60%

Income Level – 80% AMI

  • Annual Income – $68,800 40% 40%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $260,752 40% 40%
  • Median Home Price – $702,000 100% 100%
  • Gap – $441,248 60% 60%
  • Down Payment Required – $107,600 75% 75%

Buying Power for Home Purchase by Income Level for Placer County

For Family of 4

Income Level – 215% AMI

  • Annual Income – $185,545 90% 90%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $702,000 100% 100%
  • Median Home Price – $702,000 100% 100%
  • Gap – $0 5% 5%
  • Down Payment Required – $107,600 40% 40%

Income Level – 170% AMI

  • Annual Income – $146,710 80% 80%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $556,031 80% 80%
  • Median Home Price – $702,000 100% 100%
  • Gap – $145,969 20% 20%
  • Down Payment Required – $107,600 50% 50%

Income Level – 120% AMI

  • Annual Income – $103,550 55% 55%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $392,455 55% 55%
  • Median Home Price – $702,000 100% 100%
  • Gap – $309,545 45% 45%
  • Down Payment Required – $107,600 55% 55%

Income Level – 100% AMI

  • Annual Income – $86,300 45% 45%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $327,077 45% 45%
  • Median Home Price – $702,000 100% 100%
  • Gap – $374,923 55% 55%
  • Down Payment Required – $107,600 60% 60%

Income Level – 80% AMI

  • Annual Income – $69,050 35% 35%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $261,700 35% 35%
  • Median Home Price – $702,000 100% 100%
  • Gap – $440,300 65% 65%
  • Down Payment Required – $107,600 65% 65%
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