New numbers from the UNLV Lied Center for Real Estate show apartment prices in Clark County are down 2.8% from last year and more than 6% from their 2022 peak. Data from Apartment List shows the average rent in Clark County now sits around $1,423, down about 3.5% from last year. Despite the cooling market, landlords are offering record-breaking incentives to fill empty units rather than slashing prices across the board. The Lied Center for Real Estate reports incentive rates in Clark County are now the highest on record since 2000.

It’s a challenging time for the Las Vegas homebuilding community and a gathering Thursday gave the industry a chance to share their thoughts on possible fixes and solutions.

Leaders presented new data on supply, demand, and what’s driving prices across Southern Nevada, discussing workforce housing, infrastructure needs, and how continued growth could impact everything from water to tourism.

Experts predict nearly 400,000 people will move to the Las Vegas Valley over the next 10 years. Gov. Joe Lombardo joined developers, realtors, policymakers and researchers today to look 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 2026 Las Vegas Housing Outlook is held at the Las Vegas Realtors facility on South Rainbow Boulevard Thursday, April 23, 2026. The annual event was sponsored by Summerlin and presented by Home Builders Research.

For decades, Las Vegas has been one of the fastest-growing cities in the country. But wages in a state known for its hospitality industry aren’t rising fast enough to keep up with soaring home prices. Facing a shortage of 200,000 housing units, the state legislature has been looking for solutions. But as Here & Now’s Peter O’Dowd reports, it won’t be easy to rescue Nevada’s reputation as an affordable place to live.

Institutional investors, Wall Street backed-hedged funds and corporate owners have long played a significant role in Las Vegas’ housing market as a recent report from UNLV’s Lied Center for Real Estate — which pulled its data from Redfin — estimates investors have purchased more than 99,000 homes since the start of the Great Recession.

The Lied Center for Real Estate at the University of Nevada Las Vegas estimated investors owned roughly 15% of homes in the City of Las Vegas—a percentage expected to grow in Nevada and across the country.

Last year, personal-finance site Bankrate found that most homes on the market in Las Vegas were out of reach to the typical buyer, and UNLV’s Lied Center for Real Estate reported that Las Vegas’ housing market was “largely unaffordable for much of the local population.”

UNLV’s Lied Center for Real Estate found that from 2009 to 2024, investors purchased roughly 1 in 5 homes sold in Las Vegas.

The latest annual economic benefit projection is larger than the $1 billion figure that Gov. Wes Moore and other officials shared shortly after Sphere announced its plans to expand. But economists say economic impact estimates are often inflated.

We’re still seeing long-term population momentum in Clark County. UNLV’s Center for Business and Economic Research estimates Clark County’s population was 2.42 million in 2024, and forecasts population growth of about 1.7 percent in both 2025 and 2026.