Las Vegas Real Estate Market Analysis

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Located in Southeastern Nevada, Las Vegas is home to over 640,000 residents making it the 28th most populous city in the United States. The Las Vegas metropolitan area (which includes the Strip and the Valley) has a population of over 2 million.

Population growth in the city is constant and is expected to surpass the national growth rate. Current and future Las Vegas real estate investors will benefit from this growth as about 49% of the population continues to rent rather than buy homes, according to NeighborhoodScout, meaning the tenant pool for rental properties is large.

Las Vegas enjoys a healthy and diverse economy. The leading industry in the city is tourism which includes the accommodation, entertainment, and services industries. Sin City welcomes over 37 million tourists every year. A popular tourist attraction is the gambling and nightlife scene as there are over 100 casinos in the Las Vegas Valley. Another industry driving local economic growth is housing construction due to the fact that Las Vegas sees consistent population growth. Other major industries include retail, healthcare, technology, and education.

The Las Vegas real estate market has displayed overall positive trends over the years. It’s one of the top housing markets in the Western Mountain Region of the US, according to the annual PWC real estate report. The Las Vegas housing market is propped up by the economy which has high entrepreneurial and new business activity as well as the positive population growth.

Las Vegas  Real Estate Investment Performance

Facts and Market Trends in Las Vegas
Homes For Sale4,472
Airbnb Properties3,090
Rental Properties13,582
Traditional Vacancy rate7.50%
Airbnb Occupancy Rate59.34%
Mashmeter56.56%
Median Price$450,495
Median Rent Price$2,241
Price/sqft$309
Median Days on Market75
Price to Rent Ratio28.8
Average Cap Rate
Airbnb5.42%
Traditional2.62%
Average Rental Income
Airbnb$3,874
Traditional$1,794
 
Median Household Income$61,356
Population646,790
Transportation in Las Vegas
42 / 100
Car-Dependent
36 / 100
Some Transit
46 / 100
Somewhat Bikeable
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Las Vegas  Rent Prices

RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$1,623$1,848$2,232$3,673$5,029
Traditional$1,237$1,179$1,514$1,863$2,246

Las Vegas, NV - Homes for Sale - Newly Listed

3008 Merimar Drive
Las Vegas, NV 89134
Desert Shores
Single Family Residential
2 beds2 baths1,384 sq.ft.
CAP RATE
Trad. 1.92%Airbnb 2.69%
9652 Serene Star Way
Las Vegas, NV 89149
Centennial Hills
Single Family Residential
4 beds5 baths3,036 sq.ft.
CAP RATE
Trad. 0.42%Airbnb 3.91%
10041 Oak Creek Canyon Avenue
Las Vegas, NV 89147
The Lakes
Townhouse
3 beds3 baths1,605 sq.ft.
CAP RATE
Trad. 2.72%Airbnb 2.45%
3789 Melbourne Circle
Las Vegas, NV 89115
East Las Vegas
Single Family Residential
4 beds2 baths1,767 sq.ft.
CAP RATE
Trad. 2.84%Airbnb 6.74%

Top Performing Las Vegas Properties

8429 Sewards Bluff Avenue
Las Vegas, NV 89129
Lone Mountain
Townhouse
3 beds3 baths1,314 sq.ft.
CAP RATE
Trad. 3.53%Airbnb 8.00%
4092 E Twain Avenue
Las Vegas, NV 89121
Winchester
Single Family Residential
3 beds2 baths1,712 sq.ft.
CAP RATE
Trad. 3.52%Airbnb 8.00%
358 Linn Lane
Las Vegas, NV 89110
Sunrise Manor
Townhouse
2 beds1 baths700 sq.ft.
CAP RATE
Trad. 2.56%Airbnb 7.98%
6717 Old Castle Drive
Las Vegas, NV 89108
North Cheyenne
Single Family Residential
3 beds3 baths1,180 sq.ft.
CAP RATE
Trad. 3.85%Airbnb 7.98%

Recently Sold Homes in Las Vegas, NV

3607 Saint Bar Court
Las Vegas, NV 89115
East Las Vegas
Single Family Residential
beds baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
4477 El Pito Ln
Las Vegas, NV 89121
Winchester
Single Family Residential
4 beds2 baths2,072 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
169 Erie Ave
Las Vegas, NV 89183
Enterprise
Single Family Residential
4 beds5 baths5,063 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
8000 Sierra Largo Drive
Las Vegas, NV 89128
Desert Shores
Single Family Residential
3 beds2 baths1,190 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A

Property Value Changes and Real Estate Appreciation in the Las Vegas Housing Market

Real estate appreciation in the Las Vegas housing market is tangible as prices have risen by 81% since Q1 of 2000, which is an average annual growth rate of 3.22%, according to NeighborhoodScout. This property appreciation lands Las Vegas in the top 30% in the nation for growth. Zillow reports that Las Vegas property values appreciated by 10.9% in 2018, which is far above the annual average the US housing market has been experiencing over the past decade or so. This makes the Las Vegas real estate market one of the best places to buy investment property.

Las Vegas is a seller’s market, but as the inventory of homes for sale has been rising since the end of 2018, it’s not a hot seller’s market. Because the supply is increasing and meeting demand, property prices are still relatively affordable in the Las Vegas real estate market compared to other seller’s markets in the nation.

Las Vegas, NV Top Multi Family Homes

353 E Bonneville Avenue #401
Las Vegas, NV 89101
Downtown
Multi Family
1 beds1 baths687 sq.ft.
CAP RATE
Trad. 7.96%Airbnb N/A
4381 W Flamingo Road #5101
Las Vegas, NV 89103
The Strip
Multi Family
1 beds2 baths1,220 sq.ft.
CAP RATE
Trad. 7.91%Airbnb N/A
4381 W Flamingo Road #2405
Las Vegas, NV 89103
The Strip
Multi Family
0 beds1 baths615 sq.ft.
CAP RATE
Trad. 7.87%Airbnb N/A
3726 LAS VEGAS Boulevard #310
Las Vegas, NV 89158
The Strip
Multi Family
0 beds1 baths562 sq.ft.
CAP RATE
Trad. 7.78%Airbnb N/A

Homes Below Median Price in the Las Vegas, NV Real Estate Market

8429 Sewards Bluff Avenue
Las Vegas, NV 89129
Lone Mountain
Townhouse
3 beds3 baths1,314 sq.ft.
CAP RATE
Trad. 3.53%Airbnb 8.00%
4092 E Twain Avenue
Las Vegas, NV 89121
Winchester
Single Family Residential
3 beds2 baths1,712 sq.ft.
CAP RATE
Trad. 3.52%Airbnb 8.00%
358 Linn Lane
Las Vegas, NV 89110
Sunrise Manor
Townhouse
2 beds1 baths700 sq.ft.
CAP RATE
Trad. 2.56%Airbnb 7.98%
6717 Old Castle Drive
Las Vegas, NV 89108
North Cheyenne
Single Family Residential
3 beds3 baths1,180 sq.ft.
CAP RATE
Trad. 3.85%Airbnb 7.98%

Las Vegas Airbnb Growth and Regulations

As Las Vegas is a very popular tourist destination, the growth of the Airbnb and vacation rental industry has been rapid in the city, with 2018 seeing an increase of Airbnb stays by 50% (over 700,000 guests). This brought Airbnb Las Vegas hosts a revenue of $100 million.

As Airbnb continues to grow, the city has been looking towards regulating short-term rentals to minimize any possible negative effects that Airbnb rental properties can bring to local communities and prices in the housing and rental market. In December of 2018, the City Council voted on new regulations that would only allow the renting out of primary residences on Airbnb and other short-term rental websites. This means the operation of a non-owner occupied Airbnb investment property is illegal in the Las Vegas real estate market.

For owner-occupied Airbnb rentals to operate legally, they must follow the local Zoning Codes applicable to the specific area where the property is located. A yearly business licence will have to be obtained with a fee of $500 as well as a short-term residential rental permit. Airbnb hosts are also required to have liability insurance. If applicable to the short-term rental, homeowners will need written permission from their Homeowner’s Association. The City of Las Vegas also has a transient lodging tax that applies to vacation home rentals. Any violations of Airbnb regulations in Las Vegas can result in jail time and a fine of $1,000.

Las Vegas, NV Top Airbnb Homes

Entire home/apt · 4 beds
GORGEOUS NEWLY RENOVATED 2 BEDROOM SUITE!
698
Entire home/apt · 2 beds
FAMILY GETAWAY ★ 1 BEDROOM SUITE ★
585

Las Vegas, NV Homes for Rent

263 Calvino Avenue
Las Vegas, NV 89183
Enterprise
Single Family
5 beds2 baths2,317 sq.ft.
8348 BRILLIANT RUBY Court #0
Las Vegas, NV 89139
Enterprise
Single Family
3 beds3 baths1,521 sq.ft.

Las Vegas, NV Open Houses

1930 Silver Breeze Avenue
Las Vegas, NV 89183
Paradise
Single Family Residential
3 beds3 baths1,635 sq.ft.
CAP RATE
Trad. 2.70%Airbnb 6.69%
1823 Ghost Trace Avenue
Las Vegas, NV 89183
Paradise
Single Family Residential
3 beds2 baths1,619 sq.ft.
CAP RATE
Trad. 2.73%Airbnb 6.77%
1705 Eagle Peak Way
Las Vegas, NV 89134
Lone Mountain
Single Family Residential
3 beds2 baths1,268 sq.ft.
CAP RATE
Trad. 2.96%Airbnb 6.74%
5005 Whistling Acres Avenue
Las Vegas, NV 89131
Sheep Mountain
Single Family Residential
3 beds3 baths2,083 sq.ft.
CAP RATE
Trad. 3.20%Airbnb 4.73%

Best Las Vegas Neighborhoods for Buying Investment Property

Centennial Hills
Las Vegas, NV
74%
Mashmeter
property price
464450
Median
cap rate
3.85%
Traditional
11.01%
Airbnb
rental income
$1,490
Traditional
$4,260
Airbnb
homes for sale
105
occupancy rate
63%
Airbnb
Lone Mountain
Las Vegas, NV
70%
Mashmeter
property price
521220
Median
cap rate
3.73%
Traditional
7.52%
Airbnb
rental income
$1,619
Traditional
$3,267
Airbnb
homes for sale
190
occupancy rate
60%
Airbnb
Blue Diamond
Las Vegas, NV
70%
Mashmeter
property price
1469000
Median
cap rate
1.55%
Traditional
2.00%
Airbnb
rental income
$1,897
Traditional
$2,446
Airbnb
homes for sale
4
occupancy rate
45%
Airbnb
Tule Springs
Las Vegas, NV
68%
Mashmeter
property price
492450
Median
cap rate
4.03%
Traditional
0.00%
Airbnb
rental income
$1,653
Traditional
N/A
Airbnb
homes for sale
82
occupancy rate
67%
Airbnb
Kyle Canyon
Las Vegas, NV
68%
Mashmeter
property price
530000
Median
cap rate
3.56%
Traditional
6.10%
Airbnb
rental income
$1,574
Traditional
$2,695
Airbnb
homes for sale
228
occupancy rate
63%
Airbnb
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