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

Availability 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 $278,565 priced home, but this is nowhere near the median home price of $538,000. The median for-sale single-family home price is almost double what a household earning the median area income can afford.

Income Level – 193% AMI

  • Annual Income – $141,953 85% 85%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $538,000 100% 100%
  • Median Home Price – $538,000 100% 100%
  • Gap – $0 15% 15%
  • Down Payment Required – $107,600 60% 60%

Income Level – 120% AMI

  • Annual Income – $88,200 60% 60%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $334,587 60% 60%
  • Median Home Price – $538,000 100% 100%
  • Gap – $203,413 40% 40%
  • Down Payment Required – $107,600 70% 70%

Income Level – 100% AMI

  • Annual Income – $73,500 50% 50%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $278,565 50% 50%
  • Median Home Price – $538,000 100% 100%
  • Gap – $259,435 50% 50%
  • Down Payment Required – $107,600 75% 75%

Income Level – 80% AMI

  • Annual Income – $61,300 45% 45%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $232,618 45% 45%
  • Median Home Price – $538,000 100% 100%
  • Gap – $305,382 65% 65%
  • Down Payment Required – $107,600 55% 55%

Buying Power for Home Purchase by Income Level for Placer County

For Family of 4

Based on a comparison of the median sale price, it is clear that only Above Moderate income households earning greater than 193% of Nevada County’s area median income (187% 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 – 187% AMI

  • Annual Income – $141,953 85% 85%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $538,000 100% 100%
  • Median Home Price – $538,000 100% 100%
  • Gap – $0 15% 15%
  • Down Payment Required – $107,600 60% 60%

Income Level – 170% AMI

  • Annual Income – $129,370 55% 55%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $490,312 85% 85%
  • Median Home Price – $538,000 100% 100%
  • Gap – $47,688 20% 20%
  • Down Payment Required – $107,600 75% 75%

Income Level – 120% AMI

  • Annual Income – $91,300 75% 75%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $346,423 60% 60%
  • Median Home Price – $538,000 100% 100%
  • Gap – $191,577 40% 40%
  • Down Payment Required – $107,600 80% 80%

Income Level – 100% AMI

  • Annual Income – $76,100 50% 50%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $288,419 55% 55%
  • Median Home Price – $538,000 100% 100%
  • Gap – $249,581 45% 45%
  • Down Payment Required – $107,600 85% 85%

Income Level – 80% AMI

  • Annual Income – $60,900 40% 40%
  • Buying Power – 3.79 66% 66%
  • Affordable Home Price – $231,100 45% 45%
  • Median Home Price – $538,000 100% 100%
  • Gap – $306,900 55% 55%
  • Down Payment Required – $107,600 95% 95%