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Southern Nevada affordable housing developer receives national top 50 rank

Affordable housing
Affordable housing(MGN)
Published: Jun. 17, 2022 at 1:21 AM PDT
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LAS VEGAS, Nev. (FOX5) -Nevada HAND, a nonprofit dedicated to providing affordable housing, was ranked 26 out of Affordable Housing Finance’s 2021 Top 50 Affordable Housing Developers on June 2.

Out of the top 50, Nevada HAND is also the second highest-ranked nonprofit developer.

Nevada HAND says that in a region where rent is averaging $1,450 per month, they continue to develop and build affordable apartment homes with an average rent of $733 per month.

The nonprofit also says that Nevada is currently experiencing a shortage of over 85,000 affordable homes for low-income renters. “We are proud to be providing a great deal of housing for those in need, but we also understand that there is a lot of work still to be done as we address our housing challenges,” said Wally Swenson, Nevada HAND’s Vice President of Corporate Affairs.

Nevada HAND currently has over 700 units of affordable housing being made, with a combination of rehabbed units and new construction.

Their latest multi-family communities will provide 480 affordable housing units to Southern Nevada’s low-income seniors and families.