Recent high impact wildfires and droughts in California and Nevada have been linked to extremes in the Evaporative Demand Drought Index (EDDI) and Standardized Precipitation Evapotranspiration Index (SPEI), respectively. Both indices are dependent on reference evapotranspiration (ET0). Future changes in ET0 for California and Nevada are examined, calculated from global climate model simulations downscaled by Localized Constructed Analogs (LOCA). ET0 increases of 13‐18% at seasonal time scales are projected by late century (2070‐2099), with greatest relative increases in winter and spring. Seasonal ET0 increases are most strongly driven by warmer temperatures, with increasing specific humidity having a smaller, but noteworthy, counter tendency. Extreme (95th percentile) EDDI values on the two‐week timescale have coincided with recent large wildfires in the area. Two‐week EDDI extremes are projected to increase by 6‐10 times during summer and 4‐6 times during autumn by the end of the century. On multi‐year timescales, the occurrence of extreme droughts based on 3‐year SPEI below the historical 5th percentile, similar to that experienced during the 2012‐2016 drought across the region, is projected to increase 3‐15 times by late century. Positive trends in extreme multi‐year droughts will further increase seasonal fire potential through degraded forests and increased fuel loads and flammability. Understanding how these drought metrics change on various climate timescales at the local level can provide fundamental information to support the development of long‐term adaptation strategies for wildland fire and water resource management.