Board of County Commissioners - Regular Meeting

Demographic Overview

- Douglas County has higher home prices than surrounding counties and the overall average in Nevada - The county's population is also much older than the state's, with a median age of 51.3 years old - Household and per capita incomes are higher in Douglas County than in surrounding counties - Douglas County grew by just 7% between 2010 and 2023 (an average of 0.6% per year), compared with 16% growth statewide (1.3% per year) Demographic Overview of Douglas & Surrounding Counties | | **Douglas County** | **Lyon County** | **Carson City** | **Washoe County** | **Nevada** | | --- | --- | --- | --- | --- | --- | | **Population (2023)** | 50,454 | 61,405 | 59,442 | 507,376 | 3,228,249 | | **Population Growth, 2010-2023** | 7% | 18% | 8% | 17% | 16% | | **Avg. Ann Growth Rate** | 0.6% | 1.4% | 0.6% | 1.3% | 1.3% | | **Number of Households** | 22,081 | 23,749 | 23,970 | 201,725 | 1,234,111 | | **Avg. HH Size** | 2.27 | 2.57 | 2.34 | 2.48 | 2.59 | | **Housing Units** | 24,769 | 25,247 | 25,025 | 216,520 | 1,328,687 | | **% Renter** | 24.2% | 25.6% | 40.7% | 37.6% | 38.1% | | **Median Household Income** | $83,908 | $73,065 | $65,779 | $79,883 | $68,261 | | **Median Per Capita Income** | $51,976 | $35,128 | $37,170 | $44,196 | $37,560 | | **Median Age** | 51.3 | 43.4 | 42.8 | 38.4 | 38.2 | | **Average Home Price (Zillow)** | $650,440 | $379,906 | $454,932 | $522,926 | $418,583 | Source: US Census Data (from Esri Business Analyst); Zillow.

Median Household Incomes

- Three quarters of households in Douglas County make at least $50,000 annually, with nearly one quarter making over $150,000 each year - The median household income in Douglas County is nearly $84,000 – 23% higher than the median income statewide - Douglas County has a higher median income than any of the surrounding areas, including Washoe County Household Incomes in Douglas County and Nevada (2023)  Source: US Census Data (from Esri Business Analyst).

Median Household Incomes

- While statewide over a quarter of homes are valued between $300,000 and $399,999, in Douglas County nearly 30% of homes are valued between $500,000 and $749,999 - Six percent of homes in Douglas County are valued at over two million dollars, compared with one percent statewide Home Values in Douglas County and Nevada (2023)  Source: US Census Data (from Esri Business Analyst).

Age, Education, and Race in Douglas County

- Douglas County residents are older and more educated than the state overall - The population is also less diverse than the rest of the state - Over a quarter of county residents are between the ages of 65 and 84 years old, compared with 15% statewide - While less than half of state residents are white alone, 80% of Douglas County residents are - Douglas County residents are also more likely to have a bachelor or graduate degree than the statewide average Educational Attainment among Residents 25+ (2023)  Age Distribution in Douglas County (2023)  Race & Ethnicity of Douglas County Residents (2023)  Source: US Census Data (from Esri Business Analyst).

INTRODUCTION

Douglas County's Transfer of Development Rights (TDR) program was adopted in 1996 with the dual goal of preserving land and encouraging development in areas with adequate infrastructure to support a growing population. To achieve this, the County designated sending areas for preservation and receiving areas for development. A TDR program is one in which landowners sell the right to develop on agricultural or resource land in exchange for monetary compensation. Developers can then use those rights to build housing in more appropriate areas. Sending areas are designated areas in which preservation is prioritized, while receiving areas are those most suitable for growth – typically cities, towns, or other jurisdictions with adequate infrastructure to support higher population densities. TDRs can be required for all homebuilding in receiving areas or for a density bonus. Since the program's establishment, the County has certified 3,975 TDRs, preserving roughly 4,105 acres of land. However, there have been just three TDR transactions since 2009, indicating that the program may no longer be in sync with market realities. Douglas County hired an interdisciplinary team led by Wood Rodgers to evaluate the current TDR program and recommend implementation actions to improve it, thereby encouraging more preservation in the most scenic and environmentally sensitive areas of the county. As part of this effort, the consultant team interviewed stakeholders including ranchers, landowners, developers, and public officials, analyzed the local real estate market, and compiled case studies to inform best practices. The major takeaways from this research and analysis will inform the development of specific implementation actions. As shown in Figure 1, TDRs are necessary for development to occur in designated receiving areas, and require voluntary involvement by both the landowner (in sending areas) and the developer (in receiving areas).  Figure 1: TDR Overview

Status Quo

Property Owner Sells TDRs and retains use of land for farming/ranching