Housing Crisis In Nevada Poses Challenge For Biden’s 2024 Campaign

The skyrocketing cost of housing in Nevada, a key swing state, has emerged as a pivotal issue for voters ahead of the 2024 presidential election. This poses a significant challenge for President Joe Biden’s campaign, as he trails former President Donald Trump in several polls in the Silver State.

In Clark County, home to Las Vegas, median rental prices have soared 36% during the pandemic and remain 30% higher than pre-pandemic levels, according to Apartment List. A University of Nevada at Las Vegas study found that seven of the ten most common jobs in Las Vegas don’t pay enough to afford a studio apartment.

The housing crisis is largely due to a shortage of supply, with Nevada’s housing stock growing by only 131,000 homes from 2010 to 2020, while the state’s population increased by nearly 434,000 residents, according to a 2022 study by the Bipartisan Policy Center.

Biden has proposed specific policies and billions of dollars to address the supply and costs, including expanding housing tax credits and encouraging zoning law changes to allow more housing density. In contrast, Trump has mainly focused on reducing inflation and has accused Biden of having a “sinister plan” to “abolish the suburbs.”

As the incumbent, Biden could bear the brunt of the blame for the housing crisis, despite his efforts to address the issue. In 2020, Biden won Nevada by a narrow margin, but recent polls show him trailing Trump by up to 12 percentage points.