As you stroll down the streets of Vegas, you’ll see magnificent buildings illuminate colorful lights; you’ll hear live, playful music from streets and venues; you’ll see thousands and thousands of people roaming the streets like you, inviting the whole universe to come and play.
Las Vegas has become the entertainment capital of the world, marking its place on the globe as a cultural hub. With a reputation like this, there is no shortage of visitors. So, we find that investing in Airbnb Las Vegas would be a smart, profitable idea. Continue reading below to better understand why!
Related: Four Things to Consider Before Purchasing an Airbnb Investment Property
Tourism
Las Vegas receives on average almost 43 million visitors a year with a median age of 47. That’s a lot of people! But what is truly remarkable about Las Vegas is that there really is no off season. There are always tourists and visitors coming for vacations, weekends, events, and conventions.
So, there is no “peak season” in particular but there are “peak weeks,” and “peak days.” Peak weeks depend on convention times, and other celebratory events like the Super Bowl, March Madness, and New Years. Peak days are always the weekends—with numerous people, especially from Southern California, and other nearby cities going for a short weekend vacation. With that being said, March and April usually get the most visitors per day, while December is the least crowded at under 100,000.
This is ideal for Airbnb hosts and investment property owners. Unlike other cities that have peak seasons, Las Vegas is receiving tourists all year round. This means that visitors are always looking for spaces to rent. Data shows that most people prefer to rent an Airbnb space as opposed to hotel rooms because the majority find Airbnb cheaper.
Also note if you decide to live in your Airbnb property, you will attract numerous internationals. One in five of those 43 million visitors are internationals, who prefer Airbnb spaces over hotels because in addition to being cheaper, they find it a good opportunity to mingle with the locals. They’d rather live with a local family to experience the whole culture.
Yet, regardless if you decide to rent out your home or purchase a property merely for Airbnb rentals, you will still profit from Airbnb Las Vegas because its tourism market is off the charts! Take a look below at some more information on the Airbnb market in Las Vegas.
Related: Best Cities For Airbnb Occupancy
Airbnb Market
Consider this Airbnb Las Vegas case study. One man purchased an apartment in Las Vegas for $40,000, spent $10,000 fixing it up, and then put it on the market.
In its first year on the site, he made revenues of approximately $20,000, and a profit of $13,608, which is an ROI of 27%. At that rate, his apartment will be fully paid in only 4 years, while getting a very significant ROI. He is consistently making money on a real, tangible asset.
This brief case study helps you form a vision on how you can profit from Airbnb Las Vegas. In fact, Las Vegas is one of the top Airbnb cities, along with major cities like San Francisco, Los Angeles, and New York. There are currently 2,018 active hosts, 3958 active rentals.
Where in Las Vegas?
Maybe we’ve convinced you about the profitability of Airbnb Las Vegas. But, the question still remains as to where exactly in Vegas you should invest. To help you decide, consider the neighborhoods below:
Las Vegas Neighborhoods with Highest Airbnb Occupancy Rate:
- The Strip: 65%
- The Lakes: 61%
- Spring Valley: 57%
- Huntridge: 56%
- Winchester: 55%
Las Vegas Neighborhoods with Highest Airbnb Income:
- Loan Mountain: $4,486/mo
- Buffalo: $4,005/mo
- Downtown: $2,905/mo
- Spring Valley: $2,891/mo
- Rancho Charleston: $2,870/mo
Legal Stuff
Another important thing to consider when deciding where to invest in Airbnb Las Vegas is the law. The city of Las Vegas has rules regarding short-term rentals — including requiring hosts to obtain a business license, paying an annual fee of $500 for each rental unit, and a letter from the host’s homeowner’s association (if applicable), giving permission to have a short-term rental.
However, if you’re investing in North of Las Vegas, you’re in luck. The city of North Las Vegas does not have a ruling on short-term rentals. According to the city’s public information office, there have not been any issues with rentals in North of Las Vegas; and so, they have not taken any steps to require business licenses, rentals fees, or any restrictions on the rental periods.
So, go ahead, and take a step further in your real estate investment with Airbnb Las Vegas! You can begin by searching for Airbnb investment properties in Las Vegas on Mashvisor.
Related: 10 Questions of a New Airbnb User
