Proportion of Nevada Renter Households Down

Percentage of Nevadan's Renting a Home Decreases 

For the period from 2005 until 2017, the proportion of Nevada households who rent appears to have been influenced by the Great Recession, starting low before the recession then increasing throughout, finally falling somewhat in the last few years of the recovery. Rates of homeownership moved inversely, being high before the recession and then falling until recently, finally increasing somewhat in the last several years. The figure gives the proportion of renters for the U.S. and for Nevada from 2005 to 2017 using 1-year American Community Survey estimates. The 90% confidence interval for the estimates is also shown.

For the entire period the proportion of households who rent has been higher in Nevada than the nation as a whole. The lowest percentage of renter households for both the U.S. and Nevada occurred in 2006 before the recession:  38% of Nevada’s households rented a home and 62% were homeowners while for the United States as a whole 32.7% rented and 67.3% owned a home. From 2006 the percentage of households renting a home increased until 2014 for Nevada and 2015 for the United States when it reached a high of 46.4% and 37% respectively and a corresponding nadir for homeownership. The last few years the point estimate for percent of households renting has dropped for both regions to 43.4% for Nevada and 36.1% for the United States in 2017 as estimated homeownership rates have increased somewhat.

Source notes: US Census Bureau American Community Survey One Year Estimates 2005 to 2017, B25003 Tenure (Universe: Occupied Housing Units), and NHD calculations.