The inventory of affordable housing in Southern Nevada fell even further in 2024, according to a recent state report. The 2024 Annual Housing Progress Report, which was released last month by the state Housing Division and tracks affordable housing inventory across jurisdictions in Washoe and Clark counties, found overall in both counties there was a 3% increase in affordable housing units created from 2023. Both the cities of Las Vegas and Mesquite lost existing affordable units after they reverted back to private market rates. The state allocated roughly $500 million in funding to go toward developing and preserving affordable housing. Nevada state lawmakers in 2021 passed legislation to provide localities and tenants a 12-month notification before units are no longer deemed affordable in an attempt to preserve existing stock of affordable housing units.