West Sacramento, Calif. — Charles Schwab Bank this week awarded $20,000 to Rural Community Assistance Corporation (RCAC) to support its work with Nevada’s rural communities.
The Colorado River, which serves seven states in the American Southwest, will likely have a shortage of water by 2020 and the federal government has ordered the states to plan for drought conditions.
Despite its booming economy, western Nevada is having difficulty filling jobs as housing affordability declines. In the Reno-Sparks area, jobs are plentiful but the average price of a single-family home is $400,000. Rents aren’t much better, at about $1,300 per month.
West Sacramento, Calif. — During the quarter ending March 31, 2018, Rural Community Assistance Corporation (RCAC) closed 16 loans totaling nearly $15 million to assist rural communities in California, Hawaii, Nevada and Utah.
Several new housing development projects are either underway or are being planned in Carson City, Nevada. This comes just as the city’s housing needs are at an all-time high. A new study by Nevada Rural Housing Authority (NRHA) estimates that Carson City has a population of 54,997, with 21,692 households. The median housing value is $241,921 and median rent in Carson City is $927/month.