‘We need more housing’: Southern Nevada residents continue to struggle amid affordable housing shortage
LAS VEGAS (KLAS) — As the real estate market squeezes out potential home buyers in Southern Nevada, many are facing a greater challenge, true affordable housing. There’s a concerning shortage that continues to expand.
“If we were to meet the needs of everyone here in Southern Nevada that would qualify for affordable housing, we’d need about 90,000 more units,” Lewis Jordan said. He’s the Executive Director of the Southern Nevada Regional Housing Authority. “The picture of affordable housing is clearly that we need more,” he added.
Southern Nevada isn’t unique in its needs but is uniquely underserved Jordan said. One example he pointed to is that the federal government gives the Southern Nevada Housing Authority 12,500 Housing Choice Vouchers, formerly known as Section 8. That’s for a community in Clark County of close to 2.3 million people. Conversely, Jordan said, “A place like Chicago that has 2.6-2.7 million people in Chicago proper, receives somewhere in the neighborhood of 48,000 vouchers.”
Jordan is working with the Department of Housing and Urban Development to increase that number. But he said that’s just the start.
“We need to work with landlords to make sure they’re willing to accept vouchers,” he said, “We need to build more housing.”
That’s a thought shared by Nic Irwin. He’s the Research Director at UNLV’s Lied Center for Real Estate.
“We’re a growing metropolitan area. We need more housing. We need more land to build that housing or to make housing affordable. Especially in a town like this where a lot of people are working shift work and may not come with really high salaries,” he said.
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As more people move here, inventory is shrinking which is also driving up prices. That’s just a piece of the puzzle. “Is there a way to solve it? I don’t know. It’s really tricky,” Irwin said
“I don’t think we can put our hands on what’s driving the affordable housing market,” Jordan added.
Jordan remains positive, however, and said he believes it is solvable, but the situation is dire.
“I have 54,000 on all of our combined wait lists,” he said. “There is an expectation that that assistance is not forever, but just until people can move forward.”
That’s becoming increasingly more difficult in the current market. He said perhaps it’s time to rethink how we associate success.
“As it relates to the American Dream of homeownership, I think that’s still very, although it’s somewhat tougher because of prices, because of conditions, I think that we also need to redefine what success is as it relates to the American Dream,” he added. “Some folk may not want to own a home.”
Jordan said the Southern Nevada Regional Housing Authority is in the process of developing 400 new units. Those are still a ways from completion. The money was part of federal funds received from the American Rescue Plan Act.
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