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Las Vegas

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 Realtors and Real Estate Agents


Las Vegas  Real Estate Investment Performance
Facts and Market Trends in Las Vegas
Homes For Sale5,706
Airbnb Properties708
Rental Properties13,386
Traditional Vacancy rate6.20%
Airbnb Occupancy Rate54.67%
Mashmeter66.46%
Median Price$386,026
Median Rent Price$1,599
Price/sqft$203
Median Days on Market80
Price to Rent Ratio23.4
Average Cap Rate
Airbnb5.83%
Traditional1.62%
Average Rental Income
Airbnb$3,069
Traditional$1,372
 
Median Household Income$58,432
Population648,224
Transportation in Las Vegas
41 / 100
Car-Dependent
34 / 100
Some Transit
44 / 100
Somewhat Bikeable
Las Vegas  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$1,556$1,629$1,924$2,987$3,703
Traditional$799$838$1,068$1,403$1,676
Las Vegas, NV - Homes for Sale - Newly Listed
Investment Properties for Sale
$263,888
MLS 2153341
135 HARMON Avenue #303
Las Vegas, NV 89109
The Strip
Condo/Coop
0 beds1 baths520 sq.ft.
CAP RATE
Trad. 2.54%Airbnb 4.92%
Investment Properties for Sale
$679,888
MLS 2153735
145 HARMON Avenue #1701/1703
Las Vegas, NV 89109
The Strip
Condo/Coop
1 beds3 baths874 sq.ft.
CAP RATE
Trad. -0.12%Airbnb 1.78%
Investment Properties for Sale
$214,999
MLS 2153290
6908 DORITA Avenue #102
Las Vegas, NV 89108
North Cheyenne
Condo/Coop
3 beds2 baths1,289 sq.ft.
CAP RATE
Trad. 2.77%Airbnb 2.17%
Investment Properties for Sale
$357,000
MLS 2153841
8867 FRASURE FALLS Avenue
Las Vegas, NV 89178
Enterprise
Single Family Residential
3 beds2 baths1,970 sq.ft.
CAP RATE
Trad. 1.28%Airbnb 2.11%
Top Performing Las Vegas Properties
Investment Properties for Sale
$235,000
MLS 2131004
7683 CRYSTAL VILLAGE Lane
Las Vegas, NV 89113
Spring Valley
Single Family Residential
3 beds3 baths1,308 sq.ft.
CAP RATE
Trad. 2.52%Airbnb 7.99%
Investment Properties for Sale
$275,000
MLS 2123074
9332 TALL WOOD Lane
Las Vegas, NV 89129
Lone Mountain
Single Family Residential
3 beds3 baths1,560 sq.ft.
CAP RATE
Trad. 1.78%Airbnb 7.99%
Investment Properties for Sale
$156,999
MLS 2134876
3182 TARPON Drive #104
Las Vegas, NV 89120
Paradise
Condo/Coop
2 beds2 baths1,020 sq.ft.
CAP RATE
Trad. 3.19%Airbnb 7.99%
Investment Properties for Sale
$335,000
MLS 2143700
6851 QUINDIO Street
Las Vegas, NV 89166
Kyle Canyon
Single Family Residential
3 beds3 baths1,929 sq.ft.
CAP RATE
Trad. 1.38%Airbnb 7.99%
Recently Sold Homes in Las Vegas, NV
Investment Properties for Sale
$251,711
MLS
8573 Vellozia Ct
Las Vegas, NV 89149
Centennial Hills
Single Family Residential
4 beds3 baths1,899 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$868,350
MLS
11457 Snow Creek Ave
Las Vegas, NV 89135
Summerlin North
Single Family Residential
5 beds6 baths4,079 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$391,066
MLS
4404 Hillcrest Ave
Las Vegas, NV 89102
Rancho Charleston
Single Family Residential
beds baths3,907 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$208,949
MLS 2007912
10001 Peace Way #1341
Las Vegas, NV 89147
Spring Valley
Condo/Coop
3 beds2 baths1,377 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
Investment Properties for Sale
$1,750,000
MLS OC18122047
207 11th
Las Vegas, NV 89101
Downtown
Multi Family
beds baths0 sq.ft.
CAP RATE
Trad. 6.94%Airbnb N/A
Investment Properties for Sale
$225,000
MLS 2106406
2309 MARONEY Avenue
Las Vegas, NV 89104
Huntridge
Multi Family
0 beds0 baths1,826 sq.ft.
CAP RATE
Trad. 3.00%Airbnb N/A
Investment Properties for Sale
$220,000
MLS 2140977
1706 BRECKENWOOD Court
Las Vegas, NV 89115
Sunrise Manor
Multi Family
0 beds0 baths1,723 sq.ft.
CAP RATE
Trad. 2.95%Airbnb N/A
Investment Properties for Sale
$219,999
MLS 2142714
3615 GLENDALE Avenue
Las Vegas, NV 89030
East Las Vegas
Multi Family
0 beds0 baths1,920 sq.ft.
CAP RATE
Trad. 2.73%Airbnb N/A
Homes Below Median Price in the Las Vegas, NV Real Estate Market
Investment Properties for Sale
$235,000
MLS 2131004
7683 CRYSTAL VILLAGE Lane
Las Vegas, NV 89113
Spring Valley
Single Family Residential
3 beds3 baths1,308 sq.ft.
CAP RATE
Trad. 2.52%Airbnb 7.99%
Investment Properties for Sale
$275,000
MLS 2123074
9332 TALL WOOD Lane
Las Vegas, NV 89129
Lone Mountain
Single Family Residential
3 beds3 baths1,560 sq.ft.
CAP RATE
Trad. 1.78%Airbnb 7.99%
Investment Properties for Sale
$156,999
MLS 2134876
3182 TARPON Drive #104
Las Vegas, NV 89120
Paradise
Condo/Coop
2 beds2 baths1,020 sq.ft.
CAP RATE
Trad. 3.19%Airbnb 7.99%
Investment Properties for Sale
$335,000
MLS 2143700
6851 QUINDIO Street
Las Vegas, NV 89166
Kyle Canyon
Single Family Residential
3 beds3 baths1,929 sq.ft.
CAP RATE
Trad. 1.38%Airbnb 7.99%
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
Las Vegas Airbnb
$197 per night
Las Vegas Airbnb
$126 per night
Las Vegas Airbnb
$294 per night
Las Vegas Airbnb
$389 per night
Entire home/apt · 7 beds
3BR CenterStrip Sinatra's Penthouse
347
Las Vegas, NV Homes for Rent
Investment Properties for Sale
$950
MLS 2151073
Investment Properties for Sale
$1,250
MLS 2153782
Investment Properties for Sale
$1,895
MLS 2153586
1452 ECHO FALLS Avenue #0
Las Vegas, NV
Paradise
Single Family
4 beds3 baths2,259 sq.ft.
Investment Properties for Sale
$1,250
MLS 2153368
4431 HONEYDEW Circle
Las Vegas, NV
Spring Valley
Townhouse
3 beds2 baths1,024 sq.ft.
Las Vegas, NV Open Houses
Investment Properties for Sale
Open 10 AM to 1 PM
$190,000
MLS 2148985
1801 East BROOKS Avenue
Las Vegas, NV 89030
Cultural Corridor
Single Family Residential
3 beds2 baths1,189 sq.ft.
CAP RATE
Trad. 2.53%Airbnb 7.72%
Investment Properties for Sale
Open 1 PM to 5 PM
$519,000
MLS 2153652
9668 DANCING POND Way
Las Vegas, NV 89178
Enterprise
Single Family Residential
4 beds3 baths3,021 sq.ft.
CAP RATE
Trad. 0.82%Airbnb 1.89%
Investment Properties for Sale
Open 12 PM to 4 PM
$399,888
MLS 2152146
9495 ROSANNA Street
Las Vegas, NV 89178
Enterprise
Single Family Residential
3 beds3 baths1,520 sq.ft.
CAP RATE
Trad. 1.01%Airbnb 1.82%
Investment Properties for Sale
Open 12 PM to 3 PM
$310,000
MLS 2151324
10017 SABLE POINT Street
Las Vegas, NV 89178
Enterprise
Townhouse
3 beds3 baths1,772 sq.ft.
CAP RATE
Trad. 1.79%Airbnb 2.84%
Best Las Vegas Neighborhoods for Buying Investment Property
73%
Mashmeter
property price
$275,000
Median
cap rate
5.90%
Traditional
18.75%
Airbnb
rental income
$1,353
Traditional
$4,296
Airbnb
homes for sale
403
occupancy rate
62%
Airbnb
73%
Mashmeter
property price
$449,000
Median
cap rate
7.05%
Traditional
7.76%
Airbnb
rental income
$2,637
Traditional
$2,903
Airbnb
homes for sale
105
occupancy rate
50%
Airbnb
77%
Mashmeter
property price
$249,950
Median
cap rate
4.35%
Traditional
12.53%
Airbnb
rental income
$906
Traditional
$2,610
Airbnb
homes for sale
56
occupancy rate
52%
Airbnb
70%
Mashmeter
property price
$420,000
Median
cap rate
6.47%
Traditional
7.51%
Airbnb
rental income
$2,266
Traditional
$2,629
Airbnb
homes for sale
61
occupancy rate
52%
Airbnb
67%
Mashmeter
property price
$242,377
Median
cap rate
5.30%
Traditional
12.68%
Airbnb
rental income
$1,070
Traditional
$2,561
Airbnb
homes for sale
273
occupancy rate
52%
Airbnb