"Aging will be a bigger factor in changing consumption patterns for goods and services and needs in government services," state demographer Jeff Hardcastle said. "There will be an increasing demand on the health care sector, potentially."

Much of the local growth has been due to in-migration from other states and abroad. As of 2017, only 26 percent of the state's nearly 3 million residents were born here, according to Census data.

"Nevada has now come back to a situation we experienced before the Great Recession," said professor Stephen Miller, director of UNLV's Center for Business and Economic Research.

"We have a lot of people retiring in the rest of the country, especially California, selling their house, taking the equity out and coming to Nevada."