LAS VEGAS, NV – While visiting the city of Las Vegas on Tuesday’s campaign trail, President Biden announced new actions on the part of his administration to address rising home and rent prices and the construction of more affordable housing options, both in Nevada and in the United States as a whole.

While in Vegas, the announced actions included calling on Congress to pass proposed legislation that would place a 5 percent cap on rent increases on the part of corporate landlords who own more than 50 units, with a failure to comply resulting in the potential loss of federal tax breaks.

Rent is too high and buying a home is out of reach for too many working families and young Americans, after decades of failure to build enough homes,” Biden said in a White House statement released prior to his speaking engagement at the NAACP convention on Tuesday. “I’m determined to turn that around. Today, I’m sending a clear message to corporate landlords: If you raise rents more than 5% on existing units, you should lose valuable tax breaks.”

According to government watchdog Accountable.US, the cost of rent has increased 31.4 percent nationwide since 2019, outstripping the average worker’s wage growth during that period of 23 percent; this, as claimed by the White House, is causing many Americans to struggle with being able to afford housing.

In addition, the President noted that his admin’s actions also include ongoing efforts to release more public land in Nevada in order to facilitate the construction of more affordable housing, as well as to add to the housing stock in pre-existing neighborhoods in the state.

Currently, the federal government owns 88 percent of the land in Clark County along, with over half of that property – 2.9 million acres – managed by the Bureau of Land Management (BLM). The failure to release parts of that land for development has contributed to the current housing crisis being experienced in Southern Nevada, experts say.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The recent drought of affordable housing options in Las Vegas can be contributed to a number of different reasons, but a new report indicates one of the factors affecting the situation is the large number of California residents relocating to Nevada that have been outcompeting state residents for housing for some time now.

Bob Cleveland, President and Chief Executive Officer for the nonprofit Rebuilding Together Southern Nevada, noted that Californians have been outbidding Nevadans for homes in the Las Vegas Valley for several decades now. The situation was exasperated even further starting in 2022 when the Federal Reserve began increasing interest rates in order to curb record-high national inflation.

I hate to say it but it’s California, and that’s me growing up in the construction industry and I used to work for a builder,” he said. “During the first boom that we had, I was the area manager for the Northwest and we would release a section of homes at 3 o’clock in the morning and there would be a line of people and almost all of them would be from California. And you had to put down $20,000 cash deposit just to get on the list to buy these houses.”

Over the course of the last several decades, Californians have comprised approximately one-third of all new residents moving to Nevada, with the vast majority of those transplants coming from Los Angeles.

When it comes to Californians edging out Nevadans on the housing market, the edge that the former holds is clear; according to the U.S. Census Bureau, the median household income in Los Angeles is $83,000, in contrast to just $66,000 in the Las Vegas Valley. In addition, the average price of a home in Los Angeles is approximately $900,000, as opposed to just $400,000 in Southern Nevada.

It’s these circumstances that Cleveland says creates an enormously unfair advantage for California residents when it comes to competing for affordable housing in the Las Vegas Valley.

Our income is just not on par with California’s income,” he said. “So our housing prices have gone up because of the influx of California money, and our income hasn’t been going up so it makes it hard for the average Joe to keep up.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – For many people, visiting Las Vegas is a dream vacation full of opportunities to relax and take in the sights of one of the most glamorous cities in the United States. However, for the residents of the town, especially those classified as seniors, it can be challenging to find an affordable place to live. 

While communities like the Ensemble Senior Apartments offer lower rent options for seniors, the number of available units has been slowly dwindling. To help create more affordable housing options for seniors, state officials signed over five acres of federal land to Clarke County. County representatives have plans to utilize the space to build another community with 195 units. 

The new addition of the apartment complex is part of a larger initiative that kicked off in September 2022 aimed at providing more low-cost housing options to Las Vegas Valley residents. Aptly named “The Welcome Home Initiative,” the program is set to allocate over $120M to similar projects around Clark County. 

Nevada Senator Catherine Cortez Masto had the following to say about the affordable housing project:

“An initiative like this one requires everyone to come together. It starts from the ground up by not only developing and getting the land initially but also requires individuals with the patience to put a project like this together.”

Adding new housing communities like the Ensemble and the complex being built within the coming years are significant steps to fighting homelessness in the community. However, Clark County still estimates a shortage of over 85,000 homes for low-income people.

With the help of city officials and groups around Clark County, the goal of providing low-cost homes for the community’s residents is one that many hope will be reached over the next decade. 

For more information on Ensemble Senior Apartments call (702) 990-2737.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Amid skyrocketing rents in Las Vegas driving very real cost-of-living concerns, two new affordable housing apartment complexes – both being constructed by the same developer – are set to open soon, allowing families and individuals on a budget a way to put a roof over their heads.

Decatur Commons Family and Decatur Commons Senior – neighboring buildings located at Decatur Boulevard and U.S. Highway 95 near Meadows Mall that are being developed by Nevada HAND will offer 480 residential units between them both when the $110 million project is completed.

Nevada HAND President and CEO Audra Hamernik noted on Friday that development on both apartment complexes will be finished by August; tenants have already started to rent and move into units in February, she said.

Las Vegas has a very real need for more affordable housing options for its residents; high demand, limited inventory, and rapidly-rising prices have created a serious issue for many families looking for a place to live that fits within their budgets, already stretched thin by record-breaking national inflation. However, Hamernik said the company is doing whatever it can to cater to families priced out of the typical Vegas real estate market.

Currently, the average rent for a home in the region was $1,847 in May, representing a 18.8 percent increase from the same period of time one year prior; however, as per Hamernik, the average rent of a unit in one of Nevada HAND’s properties is just $733 per month.

Hamernik said that Nevada HAND receives constant contact from Las Vegas residents looking for affordable housing options; the company currently has a portfolio in the city spanning 4,700 units, but vacancies are rare due to the highly-competitive pricing.

“The demand is just outpacing our supply,” she said.

For more information on the coming Decatur Commons Family and Decatur Commons Senior communities visit https://www.nevadahand.org or call them at (702) 739-3345.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – In an effort to combat skyrocketing rents making it difficult for some residents to put a roof over their heads, a commissioner in Clark County is proposing that a mandatory “affordable housing” law be put into effect as it relates to every new apartment complex erected within the county’s limits.

Commissioner Michael Naft said that multiple constituents have reached out to him as of late, asking for help in addressing the county’s high rents which are making life unaffordable for many working-class families and individuals.

“I’ve got a binder on my desk of people who contact my office and say that their landlords raise their rent by $700, month over month,” he said. “It’s not sustainable for our community. I see this as a way to incent the developer to do the right thing.”

Similar rent control laws have been enacted throughout the country, particularly in regions where the average rent has effectively priced some families out of the market entirely. Nevada state law has allowed local municipalities to implement such laws since 1999, although to date none have chosen to do so; if passed, Clark County would be the first in the state to do it.

Naft’s proposed law, if it comes to fruition, would mandate that apartment complexes with 250 units or more would need to establish 10 percent of them as “affordable rentals” that are geared towards those making 80 percent or less of the region’s median income, which in Clark County would amount to $45,000 or less annually.

Currently, the average rent for a one bedroom apartment in Clark County is approximately $1,600 per month; over the course of the last two years, rents have jumped to a high degree, with wages reportedly not keeping pace with the cost-of-living increases.

Executive Director Susy Vasquez of the The Nevada State Apartment Association released the following statement, saying that her organization would be willing to support Naft’s proposed legislation.

“As presented, the Nevada State Apartment Association is currently neutral, leaning towards supporting the item,” she said. “We look forward to continuing conversations and ultimately providing a purpose driven solution which will bring added stability to our community.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Addressing concerns over cost-of-living increases in Southern Nevada in recent years, a developer has begun construction on an affordable housing project targeting Las Vegas senior citizens in the east section of the valley, a vulnerable population that is often neglected when it comes to housing options in their price range.

According to the Neighborhood Housing Services of Southern Nevada (NHSSN), ground was broken on “The Golden Rule Senior Apartments” on Eastern Avenue on Thursday of last week, which – once completed – will provide 60 rental units for very low-to-moderate-income seniors.

The National Low Income Housing Coalition has stated over the course of the last several years that the Las Vegas-Henderson-Paradise metropolitan area has offered the lowest amount of housing options for renters with limited means, with only 16 out of every 100 homes built catering to those in lower income brackets, reports say.

The Golden Rule apartment complex – located at 820 N. Eastern Avenue – is expected to be completed by February 2023, according to Clark County Commissioner William McCurdy, who said that Las Vegas needs to address the housing needs of its senior population.

“Too many of our seniors are struggling as rents and the cost of living in Las Vegas increase,” he said. “I’m very happy that we were able to contribute financially toward the completion of this project, which will house those with little income and provide needed social support for these residents.”

The project is being funded with $600,000 in Account for Affordable Housing Trust funds (AAHTF), $828,000 in National Housing Trust Funds from the State of Nevada (NHTF), $675,000 in the form of a permanent loan from Chase Bank, $1.9 million from the City of Las Vegas, and $12.3 million from private investor Boston Financial.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Lake Mead West Apartments, a new affordable housing complex that will be located near Texas Station in North Las Vegas, recently broke ground and, once development is started, is slated to be completed in 2023.

According to Hassan Chaudhry, principal of developer Foresight Companies and developer of Lake Mead West Apartments, the project will offer 156 units when completed and will have one, two, and three-bedroom units with below-market rents. At the moment, fair market rent in the area starts in the mid-$900 range.

“High-quality affordable housing is a critical need in Southern Nevada, and Lake Mead West Apartments will be a much-needed community in North Las Vegas,” he said. “Creating a project that is a true public-private partnership to benefit our working families requires intensive collaboration among numerous agencies and entities, but is worth the hard work for the community benefit.”

Chaudhry noted that the phrase “affordable” shouldn’t scare off prospective tenants who are worried that may translate into a lack of quality.

“Affordable just means that there is an opportunity for someone to pay less in rent. it doesn’t mean the quality of construction is low somehow,” Chaudhry said.

Lake Mead West Apartments, the development cost of which comes in at approximately $31.5 million, will be comprised of a gated complex and will feature numerous amenities for tenants, including a dog park and a barbecue area. In addition, the project will also boast of so-called “Wrap Around Services” aimed at serving the needs of tenants, offering services such as affordable health care, a food pantry, after-school programs for students, social services, computer/internet workstations, and a children’s play area.

The housing complex was brought into existence via a public-private partnership with the City of North Las Vegas, Nevada Housing Division, Foresight Companies, LLC and a private investor called Red Stone.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Amid skyrocketing demand and a shortage in options on the open market, finding affordable housing in Las Vegas is becoming difficult to achieve for some residents, citing steadily rising rents in the valley – which reports say are seeing some of the highest increases nationwide –  as the reason why.

Some Southern Nevada residents are reporting that the cheapest monthly rents they are encountering when looking among available inventory of two-bedroom apartments on the market is ranging from approximately $1485 in the valley’s northeast area to as high as $1700 in Henderson and $1850 in the southwest.

In addition, a report published recently indicates that rents in Henderson have ballooned by as much as 45 percent from one year ago.

Of course, contributing to the rental issue is the fact that Las Vegas is still in the grip of a housing and rental shortage that developers are struggling to address, with numerous apartment complexes and housing communities currently in the works that real estate experts are saying are expected to help stabilize rents in the region once they are completed.

But in the meantime, reports indicate that owners and investors are currently testing the waters in terms of seeing how much they can get for their rental properties in a red-hot marketplace, often increasing their asking prices in light of any amenities that their properties possess, such as it being a newer build or if it has a pool.

However, until more house and apartment rentals are available in Las Vegas – with more and more projects are being announced and started by the day – some local residents are expressing sincere concern over finding affordable places to live in the meantime.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Ovation Development Corp., a Las Vegas-based apartment developer, has announced they will be holding the grand opening ceremony next week for their newest project, an affordable senior housing complex located in the southern Las Vegas Valley.

Heirloom at Pebble is a 195-unit 55-and-over apartment building situated at 2325 East Torino Avenue, near the intersection of Eastern Avenue and Pebble Road. The complex, which originally held a soft opening in May, offers apartment units with one and two-bedroom layouts, with monthly rent prices ranging from $573 to $1,377, which includes all utilities.

The project, which cost approximately $48 million, was funded in conjunction with several governmental and private business entities, including Clark County, the Nevada Housing Division, and the Federal Home Loan Bank of San Francisco. In addition, the land upon which Heirloom at Pebble sits was contributed by the federal Bureau of Land Management.

Heirloom at Pebble offers numerous amenities aimed at the health and well-being of its’ senior clientele, including a fitness center and movement room, community events, on-site hair salon and multipurpose rooms.

The apartment complex aims to help address one of the most prevailing problems affecting Las Vegas’ senior population, which is the high cost of housing, according to Ovation’s Director of Development, Armen Hadjimanoukian.

To that end, Hadjimanoukian noted that the developer is also currently hard at work on several other affordable senior housing communities in Southern Nevada, another one of which will be opening this summer.

The housing prices have really been affecting everyone in Southern Nevada — especially seniors, who are on fixed incomes,” he said. “These types of public-private partnerships are amazing because they allow us to create and provide much-needed housing. Ovation has another six communities planned or under construction – with another one opening up in August of this year.”

Heirloom-at-Pebble is now leasing: https://ovationco.com/heirloom-at-pebble/

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The housing market nationwide has been experiencing a series of hurdles and setbacks due to the ongoing inflation and rising mortgage interest rates that have been plaguing prospective homebuyers throughout 2022. However, real estate experts are noting that while Las Vegas isn’t immune to these issues, the marketplace is currently proving to be far more affordable overall than much of the country.

As 2022 soon enters into its final month, Las Vegas real estate expert Kirby Scofield stated in a recent interview that – despite the economic roadblocks that are in the way – individuals can still get a great deal in Southern Nevada if they’re willing to put in the effort, as the region features a unique set of circumstances that can prove rewarding for homebuyers.

“We have four casinos going up, two more sports teams supposedly going to be announced and thousands of jobs coming into Las Vegas, that means people are going to be moving…moving means buying and selling homes,” he said.

The factors contributing to an improving Las Vegas real estate marketplace include gradually-lowering home prices coupled with reduced competition for the current inventory; this situation, Scofield said, can provide the ability to secure a good deal on a purchase despite high interest rates on home loans, which are currently past 7 percent.

Scofield notes that buyers should be looking at homes that they can afford based on the current interest rates, but also keep in mind that the tough market is now causing sellers to offer compromises that can lower the overall money you need to sink into a deal.

In addition, Scofield also said that some first-time home buyers may qualify for a Federal Housing Administration (FHA) home loan, which would require only a three-and-a-half percent down payment.

“Utilize that it’s currently a buyer’s market to get seller concessions to buy down the points, and pay for your closing costs and get keys for home you deserve,” he said. “More homes available in FHA limit, double than we had in inventory in January alone of every home total in Vegas.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – A policy discussion taking shape in Nevada could have implications for how real estate investors structure property ownership in the Las Vegas housing market, as lawmakers examine whether a long-standing tax exemption should be revised or eliminated.

The issue centers on the growing share of homes owned by corporate entities and investment groups across Southern Nevada. Housing data referenced in multiple reports suggests that investors account for a notable portion of the region’s single-family housing stock, with estimates generally ranging from the mid-teens to around one-fifth of all homes.

Investor activity has also played a visible role in recent transaction trends. In certain periods over the past several years, analysts have found that investors represented a significant share of home purchases in the Las Vegas area, at times approaching a quarter or more of total sales volume. That level of participation has drawn attention from policymakers as affordability concerns continue across the region.

At the center of the current debate is a provision in Nevada’s tax structure that applies to certain real estate investment arrangements. According to regional reporting, some large property owners may be able to transfer or restructure holdings between affiliated entities without triggering the same level of tax exposure that would typically apply to traditional real estate transactions.

Lawmakers are now evaluating whether that framework should be adjusted. Proposals under discussion have focused on closing or narrowing the exemption, which could increase tax obligations tied to certain property transfers and generate additional public revenue.

Supporters of revisiting the policy argue that changes could help fund programs tied to housing and education, while also increasing transparency around large-scale property ownership. Others caution that any revisions must be carefully structured to avoid unintended consequences across the broader real estate market, including impacts on transaction flow, financing, and smaller-scale investors who may use similar ownership structures.

The discussion is unfolding at a time when Southern Nevada continues to face housing supply constraints. Federal and state estimates have pointed to a sizable shortfall in available affordable housing units, while elevated home prices and borrowing costs have made entry into homeownership more challenging for many residents.

At the same time, demand for rental housing remains strong, supported by ongoing population growth and economic activity in the Las Vegas Valley. That dynamic has contributed to continued investor interest in the market, particularly among those focused on long-term rental strategies.

Previous legislative efforts in Nevada have included a 2023 proposal to cap the number of homes large corporate investors could purchase annually, though the measure ultimately failed to advance amid legal and economic concerns. Lawmakers have also supported efforts to increase transparency around institutional ownership and bulk home purchases, reflecting ongoing interest in how investor activity is shaping the housing market.

Focusing on tax policy instead represents a more targeted approach, though its ultimate impact remains uncertain. Real estate analysts note that investors in the Las Vegas market range from large institutional firms to smaller local operators, and any changes to tax treatment would likely affect different groups in different ways depending on how properties are held and managed.

More broadly, housing experts continue to point out that investor activity is only one component of a larger set of market forces. Supply limitations, construction costs, migration patterns, and interest rates all play significant roles in shaping both home prices and rental demand.

As the legislative process moves forward, investors and property owners will be watching closely to see how any proposed changes are defined and implemented. While adjustments to the tax framework could influence how deals are structured, the overall direction of the Las Vegas housing market will likely continue to be driven by a combination of economic growth and ongoing supply challenges.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – While the housing market has proven difficult to navigate for much of the nation in recent years due to numerous factors such as high prices and interest rates on home loans, a new Redfin survey indicates that the trials and tribulations of homeownership are proving to be nearly twice as hard on single people as opposed to married ones.

According to the survey, which was conducted in November 2025 amongst 4,000 U.S. residents, approximately two-thirds of single people – 64 percent – found it to be a serious hardship to be able to afford their rent or mortgage payments, as opposed to 39 percent of married people.

Both rents and home sale prices have risen considerably prior to the levels they were at before the pandemic, with rents currently 20 percent higher and home prices up nearly 50 percent; wages have increased as well, but not nearly at the same rate as housing costs and other day-to-day living expenses.

But still, married couples are having an easier go of it when it comes to their ability to afford housing when compared to singles, and Redfin has narrowed down the reasons why to three important factors.

First, household income for single people is generally lower, and when they find themselves paying prices better suited to a double income, financial strain nearly always follows. 48 percent of single survey respondents noted that they make less than $50,000 annually, whereas 62 percent of married people bring in a combined income of $100,000; 21 percent bring in up to $500,000.

Second, single people lack the tax advantages that married people can partake in, who also typically tend to split common household expenses – groceries, utilities, etc. – that single people are solely responsible for.

And finally, single people on average are younger than married couples, and as a result are typically in the earlier stages of their careers and have not reached their maximum earning potential yet, nor do they usually have much money saved up; they are also often in the process of paying off student debt as well.

These three factors contribute greatly to single people having more difficulty when it comes to the costs associated with housing than married people, but with more and more local governments addressing the ongoing national affordable housing crisis, new policies and developments are coming along that may help to address this discrepancy in the future.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.