We’re proud to see Associate Professor Shawn McCoy from the UNLV Lied Center for Real Estate featured in a recent report by KTNV Channel 13 on the pressing issue of affordable housing in Southern Nevada.
In the segment, titled "Affordable for Who? Pushes for 'Affordable Housing' Still Met with Challenges for Locals," Dr. McCoy breaks down the complexities of affordability and availability in the local housing market. His insights, based on a new report by the Lied Center, shed light on the struggles faced by essential workforce members like teachers, healthcare workers, and hospitality staff.
Key takeaways include:
🏘️ Housing is generally considered affordable if it costs no more than 30% of a household's income.
📊 For households earning $52,000 per year, only 1 in 3 market-rate apartments in Clark County are affordable, compared to nearly 90% for those earning $100,000 annually.
🚧 Housing construction in Southern Nevada has dropped by 37% over the past year, further limiting availability.
Dr. McCoy emphasizes the importance of addressing both affordability and availability to support the local workforce:
"What’s affordable to one household may not be affordable to another, depending on their income. It’s not scientifically sound to just call all housing affordable or unaffordable — it depends on who we’re talking about."
This segment highlights the critical role of research in informing policy and community discussions. Thank you, Dr. McCoy, for bringing much-needed clarity to this vital issue!
Watch the full story here: https://www.ktnv.com/news/affordable-for-who-pushes-for-affordable-housing-are-still-met-with-challenges-for-locals