At the annual Las Vegas Housing Outlook summit hosted by Home Builders Research, experts predicted that upwards of 400,000 people will move to Las Vegas Valley between now and 2035. A story in the Review-Journal reported, “Developers, realtors, policymakers, and researchers are looking for ways to build homes for all of them, while confronting the reality that the Valley lacks affordable housing for all the people who live here right now.” The estimated 380,000 new residents would add a second Henderson and North Las Vegas in terms of population growth. Hundreds of thousands of acres of federal land would be available to develop if the government made them available, but in the meantime, only about 36,000 acres of privately owned land remain open for development. At the standard density of four to five houses per suburban acre, that would mean around 150,000 to 180,000 new houses Standard Suburban (4–5 houses per acre): Standard density found in many U.S. neighborhoods.Total: 144,000 – 180,000 houses Gov. Joe Lombardo joined Recent estimates from Clark County show the area needs between 80,000 and 96,000 affordable rental units. In fact, between 2019 and 2023, the number of vacant, available units for rent or sale dropped from 45,299 to 33,670, while the population continued to grow. The Valley is surrounded by thousands of acres of federal land, some of which the government may make available for development. Part of todays summit revolved around how that might be handled. To help you contextualize how big that population growth is, that increase in population is larger than the current population of both the city of Henderson and the city of North Las Vegas, McCoy said.
Source: Las Vegas News