Las Vegas is not known for being quiet. In fact, when the sun goes down and the neon lights come on, the ‘Entertainment Capital of the World,’ comes to life for the 88 thousand tourists who arrive each day. And, with over 151,000 available hotel rooms, lodging for those tourists is not a problem.
However, another side of Las Vegas stays mostly hidden from the tourists. The 2022 Homeless Census found 5,645 people living in shelters or on the streets. It estimated that nearly 14,000 people experienced homelessness in the Greater Las Vegas Metro Area sometime during the year. The primary reason is a lack of affordable housing.
According to the National Low Income Housing Coalition, with the majority of its population in the Las Vegas Valley, Nevada has an estimated shortage of almost 80,000 affordable rentals for extremely low-income tenants. The median price of a home in Las Vegas is $405K. And the average rent of an 894 sq. ft. apartment is $1,460.
However, the affordable housing problem in Las Vegas and around the world could change thanks to a very innovative company based in North Las Vegas. Boxabl has developed a revolutionary way of building and shipping affordable modular homes that have been quietly gaining a lot of attention.
However, turning ideas into reality is costly, and to bring Boxabl to life, they raised over $100 million through crowdfunding with over 15,000 investors.
To learn more about how Boxabl is planning to make an impact on the affordable housing market,
click here.
