1.  If the governing body of each city or county is required to include the housing element in its master plan pursuant to NRS 278.150, the governing body shall, on or before July 15 of each year, report the following information relating to the county or city, as applicable, to the Housing Division of the Department of Business and Industry and the Advisory Committee on Housing created by NRS 319.174:

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(a) An inventory of housing conditions and needs, and plans and procedures for improving housing standards and providing adequate housing to individuals and families in the community, regardless of income level.

(b) An inventory of existing affordable housing in the community, including, without limitation, housing that is available to rent or own, housing that is subsidized either directly or indirectly by this State, an agency or political subdivision of this State, or the Federal Government or an agency of the Federal Government, and housing that is accessible to persons with disabilities.

(c) An analysis of projected growth and the demographic characteristics of the community.

(d) A determination of the present and prospective need for affordable housing in the community.

(e) An analysis of any impediments to the development of affordable housing and the development of policies to mitigate those impediments.

(f) An analysis of the characteristics of the land that is suitable for residential development. The analysis must include, without limitation:

(1) A determination of whether the existing infrastructure is sufficient to sustain the current needs and projected growth of the community; and

(2) An inventory of available parcels that are suitable for residential development and any zoning, environmental and other land use planning restrictions that affect such parcels.

(g) An analysis of the needs and appropriate methods for the construction of affordable housing or the conversion or rehabilitation of existing housing to affordable housing.

(h) A plan for maintaining and developing affordable housing and market rate housing to meet the housing needs of the community for a period of at least 5 years.

2.  On or before September 15 of each year, the Housing Division of the Department of Business and Industry shall compile the reports submitted pursuant to subsection 1 and post the compilation on its Internet website.

3.  As used in this section, ‘market rate housing’ means housing for a household which has a total monthly gross income that is more than the total monthly gross income that would allow the household to qualify for affordable housing.