Truckee Affordable Housing

Resort markets like Lake Tahoe have had a difficult time coming up with ways to address the lack of affordable housing for the local workforce. As home values escalate, many of our teachers, healthcare workers, civil servants and others are not able to buy a home.

At the same time, the long-term rental market presents additional challenges. More than 50% of Lake Tahoe and Truckee homes are used as second homes and vacation rentals. To addresss this, the Town of Truckee has come up with an innovative solution.

About THAP

Called the Truckee Home Access Program or THAP, the program offers compensation up to $150,000 to help a buyer with the purchase. Or, it can reimburse a seller so that the sale price can be reduced. Sellers can reduce their sale price and apply for funding to make up the difference.

THAP was designed to help generate a special pool of homes that will be reserved for the full-time workforce in the Truckee region. The program is funded by Measure K, a Transient Occupancy Tax. The program requires a 55-year deed restriction that will ensure home inventory remains available for the workforce.

A THAP unit is a housing unit that is deed restricted so that it can only be used as a fulltime residence. It must be purchased by, or rented to a household that meets the THAP program's regional employment and income qualification requirements.

The buyer must plan to use the home as a full time residence. Their liquid assets cannot exceed 30% of the value of the purchased home.

How THAP Works:

Buyers can apply for compensation up to $150,000 for a maximum $937,500 home purchase price. Payment can be used for down payment assistance, renovations, or other expenses.

Sellers can sell at a reduced price and apply for compensation to make up the difference between the reduced price and the appraised value.

Local Businesses can apply for compensation to rent or sell homes to local workers, including their own.

Developers can apply for compensation to build homes for sale or rent to local workers.

Deed Restriction

A deed restriction is a binding agreement that places permanent restrictions on the property. In the case of THAP, the deed restriction will restrict the unit for use as a full-time residence. Occupants will also be required to meet income and employment qualifications.

The amount paid for each deed restriction will not exceed the lesser of 16% of the appraisal value of a home or $150,000.

The deed restriction will remain with the property if the property sells within the 55-year deed restriction term. The terms of the property restriction will reset for 55 years for the next owner.


THAP requires that a household must have at least one member who is currently employed 30 or more hours per week. They must meet full-time employment equivalency with employer verification. They can also apply if they have a written offer for full-time employment within the Tahoe Truckee Unified School District.

Buyers must work full-time in the region, and not earn more than the program’s maximum income limits ($241,080 for a household of 4.) They must agree to sell to another THAP qualified buyer at resale. Buyers can use the financial assistance for a down payment, home renovations, or other expenses.

THAP holds workshops so buyers, sellers, and developers can explore whether this program is right for them. For more information click here.

Contact us today for more information about the many innovative real estate programs available in Lake Tahoe. California has launched measures to make it easier to build Accessory Dwellings to house our workforce. We'd love to show you what makes the Town of Truckee such a great place to call home.