LAS VEGAS (KTNV) — It may come as no surprise that more than half of Clark County residents report they cannot afford to own a home as private investors and high interest rates create significant barriers for local buyers.
WATCH | Clark County Housing Crisis: Half of residents can't afford homes as investors dominate market
"I'll be renting for the rest of my life."
"It — it's hard to buy a house in Las Vegas," said Darryl Ursley. "All you can do is save, save, save — and even then — it may not be enough."
The effort to save faces stiff competition, particularly from private investors. In Clark County, 15% of homes are owned by private investors. In North Las Vegas, that figure jumps to 25%, one of the highest rates in the nation.
People trying to break into the market are often competing against all-cash offers, fast closings and deep pockets.
Jordan Layton, who is trying to buy in North Las Vegas, confirmed this challenge when I asked if private investors have contributed to outpricing locals.
"Yeah, most definitely. A lot of people are buying up the homes that are a little bit cheaper… they're going in and undercutting them all," Layton said.
To better understand what's fueling the unaffordability crisis in Southern Nevada, I spoke with Alex Vazquez, who has a real estate business in the valley.
| "One of the major factors of the unaffordability issue is the higher interest rates… they've pushed the high sixes, even up to the sevens… those percentages really are killing people's aspirations," Vazquez said. "The investors have the upper hand… they're buying outright in cash or putting 50% down. What they're looking for is the cash flow." |
But there may be a small window of hope. Vazquez told me the market is shifting, and local buyers could gain leverage.
"It has shifted from a seller's market to a buyer's market. One thing local buyers can do — ask the seller to buy down the interest rate. Just 1% could save you nearly $5,000 a year," Vazquez said.
For families like Jordan's, homeownership still feels somewhat out of reach.
"I do have a wife, and we have two incomes. If I didn't have that — I wouldn't be able to even think about buying a house recently," Layton said.
Recent housing legislation offers some relief
While a number of housing bills were vetoed in the 2025 Nevada Legislature, others were approved by Gov. Joe Lombardo.
WATCH | What relief can we expect with new laws passed?
- Assembly Bill 540 will provide more than $180 million for attainable housing. It also allows expedited licenses for contractors working on affordable housing in rural areas.
- Assembly Bill 475 brings in $15 million to Clark County for eviction diversion programs.
- Assembly Bill 211 will allow local governments to declare a property "unliveable" and appoint a receiver to fix the problems, with the property owner reimbursing the costs.
- Finally, Assembly Bill 241 will require local governments to allow multi-family residential development on commercially zoned land.
Do you have a question or story idea? Reach out to me directly at Abel.Garcia@ktnv.com.
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