Vacant Homes Down 20%+ From 2008 Peak — Nevada’s Outlook

Nationwide, the number of vacant homes has dropped significantly since the aftermath of the 2008 housing crisis. Recent U.S. Census Bureau data show about 15.1 million vacant housing units across the country. This equates to a vacancy rate of around 10%, the lowest level recorded in at least 25 years. The total has fallen more than 20% from its post-crisis peak of nearly 19 million, a clear sign of recovery in homeownership and a tighter overall housing market.

Many of these vacant units serve purposes other than being abandoned or unsellable. A large share includes seasonal, recreational, or occasional-use properties, such as vacation homes. Rental units generally show higher vacancy rates than owner-occupied homes.

States with strong tourism or seasonal appeal tend to have the highest vacancy rates. Maine leads the nation, with one in five homes vacant, followed closely by Vermont and Alaska. These high rates often reflect a large share of vacation homes, seasonal properties, and recreational use rather than widespread abandonment.

Nevada stands out differently within this broader pattern. The state does not rank among the top areas for vacancy. Recent estimates place its vacant housing units at roughly 124,000. This positions Nevada in the middle of the pack nationally with a vacancy rate near 9.5%, below the national average.

In Nevada, especially in and around Las Vegas and other resort-oriented regions, many vacant homes connect to seasonal or recreational use, second homes, or properties temporarily between owners or renters. Despite these vacancies, the state's housing market remains competitive. Demand continues to drive median home prices to record levels in key areas like the Las Vegas Valley.

Nevada's homeownership rate stands at about 61%, which falls below the national average. This gap underscores persistent affordability challenges, even as some units sit empty.The national decline in vacancies overall reflects a healthier yet more supply-constrained housing market. This trend has aided recovery from the post-2008 crisis, but it has also contributed to rising prices and greater affordability pressures in fast-growing states like Nevada. Policymakers and residents keep a close eye on these evolving dynamics, particularly as population growth and tourism continue to influence housing needs in the Silver State.