Top Locations Las Vegas Real Estate Market 2019: 5 Places to Invest by Heba Baker July 12, 2019July 12, 2019 by Heba Baker July 12, 2019July 12, 2019 Some neighborhoods in the Las Vegas real estate market naturally perform better for rental properties than others. If you want to have a better chance of finding a profitable Las Vegas investment property, check out our list of the best places to invest in Las Vegas in 2019. 5 Best Neighborhoods in Las Vegas Using data from Mashvisor’s investment property calculator, we will tell you where to find the highest projected returns for rental properties in the Las Vegas housing market this year. The type of real estate data our tools generate provide key indications of performance for both Airbnb and traditional rental properties, along with general market trends. If you’re interested in getting access to data like this for any US real estate market, learn about your options for signing up for our services. Note: Due to the fact that non-owner occupied Airbnb rentals are currently illegal in Las Vegas, we will not be including data for short term rental performance in the Las Vegas real estate market. The Strip Median Property Price: $541,648 Price per Square Foot: $419 Price to Rent Ratio: 27 Average Days on Market: 122 Monthly Traditional Rental Income: $1,684 Traditional Cash on Cash Return: 4% Meadows Village Median Property Price: $585,164 Price per Square Foot: $308 Price to Rent Ratio: 20 Average Days on Market: 111 Monthly Traditional Rental Income: $2,421 Traditional Cash on Cash Return: 4% Downtown Median Property Price: $450,192 Price per Square Foot: $300 Price to Rent Ratio: 17 Average Days on Market: 109 Monthly Traditional Rental Income: $2,182 Traditional Cash on Cash Return: 3% Downtown East Median Property Price: $242,059 Price per Square Foot: $159 Price to Rent Ratio: 17 Average Days on Market: 114 Monthly Traditional Rental Income: $1,176 Traditional Cash on Cash Return: 2% Winchester Median Property Price: $258,778 Price per Square Foot: $149 Price to Rent Ratio: 18 Average Days on Market: 78 Monthly Traditional Rental Income: $1,200 Traditional Cash on Cash Return: 2% Do you have a free Mashvisor account? Use our Property Finder to find lucrative Las Vegas investment properties that match your criteria in a matter of minutes! Sign Up for Free Related: The Best Real Estate Investing Tips for Choosing a Top Location What Else to Expect from the Las Vegas Real Estate Market If you’re going to become a Las Vegas real estate investor, you should also learn about the current market conditions. Here are the city-level averages so you that you have an idea of the general performance of Las Vegas real estate investments. Median Property Price: $381,334 Price per Square Foot: $199 Price to Rent Ratio: 23 Average Days on Market: 73 Monthly Traditional Rental Income: $1,398 Traditional Cash on Cash Return: 2% In addition to the return on investment (ROI) numbers listed above, there are a few more important things to keep in mind when investing in the Las Vegas real estate market: It’s a Buyer’s Market You won’t have a difficult time finding Las Vegas houses for sale as housing supply is up and trends are in the buyer’s favor. In our database alone, the Las Vegas real estate market currently has 6508 listings of properties for sale. Last year, the Las Vegas real estate market was a red hot seller’s market, and according to Trulia, there has been a 1 percent decrease in median home sales over the past year. So you should take advantage of this cool-down and search for a good deal now before the housing market picks back up again. Home Values Are Still Increasing A cool market doesn’t mean home values in the Las Vegas real estate market will come to a halt. Quite the contrary. According to Zillow, Las Vegas real estate properties have appreciated by 7.6 percent over the past year, and the median home value is currently $274,700. Las Vegas home values are predicted to go up another 2.2 percent within the next year. Related: Can You Still Find Below Market Value Homes for Sale in 2019? There’s a Wide Renter Pool Nearly half (48.9 percent) of the Las Vegas real estate market is composed of renters. With the population as a whole gradually growing in Nevada (increased by about 62,000 last year), real estate investors can be comforted by this growth as it means more demand for housing- housing that they can provide by investing in long-term rental properties. The population in Las Vegas, specifically, rose about 10 percent from 2010 to 631,676 in 2018. Unemployment Is Going Down The Las Vegas unemployment rate has been higher than the national average for a while now. And yes it still is above the national average, but it has gotten better and is continuing to steadily improve. It’s been slowly declining since 2011 as the local economy has been gaining jobs. An improving economy is great news for real estate investors as this indicates a strong housing market. The State Laws Are a Plus The Las Vegas real estate market is a great place for investing in long term rentals as it’s also landlord-friendly. If you have troublesome tenants constantly missing their rent payments, state law makes the eviction process easy. Generally, these tenants are given five days from the date the rent was due before landlords can begin the eviction process. Landlords don’t have any obligation to pay interest on deposits, and there are no limits on late fees. Another great thing investors would love to hear is there is no state income tax in Nevada. Property tax rates are pretty low too, averaging at just around 1 percent. Related: Invest in Real Estate in the 5 Most Landlord Friendly States Finding Profitable Investment Properties If you’re ready to invest, why waste any more time? With Mashvisor, you can conduct a full property search in just 15 minutes. We have multiple search and investment analysis tools that our users can benefit from when looking for profitable real estate investments. We’ve used our Property Finder and have located a couple of prospective investment properties currently listed for sale in the Las Vegas real estate market. Here is the basic data for them: Investment Property for Sale #1 LIST PRICE: $158,000 ESTIMATED VALUE: $149,779 TRADITIONAL CASH ON CASH RETURN: 17% Investment Property for Sale #2 LIST PRICE: $138,000 ESTIMATED VALUE: $136,902 TRADITIONAL CASH ON CASH RETURN: 15% Investment Property for Sale #3 LIST PRICE: $149,999 ESTIMATED VALUE: $144,808 TRADITIONAL CASH ON CASH RETURN: 14% There are so many more listings that you can quickly and easily find in the Las Vegas real estate market by using our platform. Don’t forget that if you start a free 14-day trial, you can also gain access to further data analysis and valuable investment insights. Start Your Investment Property Search! START FREE TRIAL Las Vegas NVNeighborhoodTraditional 0 FacebookTwitterGoogle +PinterestLinkedin Heba Baker Heba is Content Writer at Mashvisor with a BA in Business Administration. Most of all, she enjoys writing about the constantly changing markets in the US real estate industry. If not writing, Heba is exploring and learning. Previous Post 5 Things Investors Should Know Before Buying a Short Sale Home Next Post Where to Find Neighborhood Data for Real Estate Investing Related Posts The Best Places to Buy a Rental Property for Short-Term Rental Strategy Orlando and Tampa Are Key to Invest in Florida Real Estate Investing in The Miami Real Estate Market in 2018: Yes or No? 5 Hot Neighborhoods for Airbnb Memphis in 2021 4 Best Small Cities for Investing in Real Estate The 10 Best Places to Invest in Real Estate in Florida in 2020 10 Best Places to Invest in Real Estate in 2020 Should You Be Buying Atlanta Investment Properties for Sale in 2018? Why Texas Real Estate Has Always Been Sexy For Investors Where in the US Can You Find the Best Investment Property Mortgage Rates in 2018? 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