It’s getting more expensive to live in Nevada.
The average home value in Las Vegas is around $89,000 higher than it was 10 years ago, and Reno’s average value has increased by $129,000 in the same period, according to Zillow.
Rent can be even worse. According to Rent Jungle, the average rent in Reno in January 2011 was $692, and it is now $1,222. In the same period, Las Vegas rents went from $783 to $1,074.
Multiple bills have been introduced in the Legislature that would tackle the problem of affordable housing, with issues like impact fee subsidies and tax-based funds on the docket.
• A bill that would allow municipalities the ability to subsidize or reduce impact fees in certain developments. A conceptual amendment for this bill would allow for rent control and inclusionary zoning incentives for developers of affordable housing.
• A bill that would require local governments that perform housing need assessments as part of their master plans to make sure the information can be incorporated into the statewide low-income housing database.