LAS VEGAS (KTNV) — The Vegas Chamber hosted the annual economic forecasting event, Preview Las Vegas Thursday, called 2025 Preview Mania.
The future of our valley was on full display, from a look at our local economy to new experiences and more.
There are lots of positives in our community, but there are some challenges, too, including housing. Many locals tell me they're just worried about making ends meet in this expanding city.
19-year-old Lauren Briggs is nervous about her future as an elementary school teacher.
I asked Briggs if she's concerned she won't be able to afford a home in the future.
"Definitely, yeah, I thought about moving out of state to afford something better," said Briggs, who was born and raised in Las Vegas.
The average household income is more than $40,000 less than what's needed to buy a median-priced home in the valley, according to Applied Analysis Principal Analyst Jeremy Aguero.
The average single-family home is now around $475,000.
“It’s crazy because I feel like I’m going to have to work more than just one job just to afford the basic necessities," said Briggs.
Briggs is even questioning her professional future because of it.
“I thought about even changing my career over it because, I mean, teacher salaries aren’t known to be a lot," said Briggs.
How did Las Vegas get to this point, though? Tremendous growth and a booming economy.
Aguero broke down all the numbers at Preview Las Vegas.
“Between 1950 and 2024, the United States grew by about 125%. Here is where Nevada is. Unbelievable, we have increased by more than 1,900%," said Aguero.
He says that kind of huge growth does bring its concerns.
"We would be fooling ourselves if we didn’t think there were growing pains relative to that," said Aguero.
Still, it has also brought successes, such as our career and technical education programs.
“CTE are some of the best anywhere in the United States," said Aguero.
Plus, in the workforce.
“From Pre-Covid to where we are today, we have added 94,000 jobs have been created in this community," said Aguero.
Briggs hopes change will see her and other locals realize the dream of home ownership.
Economists say the release of federal land to build more homes in our valley could go a long way in helping ease the struggles many locals are going through.
