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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.

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Las Vegas  Real Estate Investment Performance
Facts and Market Trends in Nashville
Homes For Sale
5,977
Airbnb Properties
828
Rental Properties
5,995
Traditional Vacancy rate
6.20%
Airbnb Occupancy Rate
58.71%
Mashmeter
64.52%
Median Price
$369,020
Median Rent Price
$1,644
Price/sqft
$197
Median Days on Market
58,432
Price to Rent Ratio
23.2
Average Cap Rate
Airbnb
5.33%
Traditional
1.53%
Average Rental Income
Airbnb
$2,893
Traditional
$1,324
 
Median Household Income
$58,432
Population
648,224
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$1,621$1,658$1,918$2,875$4,431
Traditional$844$818$1,025$1,296$1,735
Las Vegas, NV - Homes for Sale - Newly Listed
$485,000
MLS 2078382
7198 WINDY PEAK Court
Las Vegas, NV 89113
Enterprise
Single Family Residential
4 beds3 baths3,034 sq.ft.
CAP RATE
Trad. 0.88%Airbnb 2.04%
$225,000
MLS 2057832
4913 SIGNAL Drive
Las Vegas, NV 89130
North Cheyenne
Single Family Residential
3 beds2 baths1,334 sq.ft.
CAP RATE
Trad. 1.98%Airbnb 2.78%
$270,000
MLS 2079051
8553 LITTLE FOX Street
Las Vegas, NV 89123
Paradise
Townhouse
3 beds2 baths1,420 sq.ft.
CAP RATE
Trad. 1.51%Airbnb 6.23%
$144,000
MLS 2079000
1800 EDMOND Street #216
Las Vegas, NV 89146
Rancho Charleston
Condo/Coop
2 beds2 baths926 sq.ft.
CAP RATE
Trad. 1.85%Airbnb 5.04%
Top Performing Las Vegas Properties
$225,000
MLS 2073690
6439 HAYDEN PEAK Lane
Las Vegas, NV 89156
Sunrise Manor
Single Family Residential
3 beds2 baths1,387 sq.ft.
CAP RATE
Trad. 1.25%Airbnb 8.00%
$320,000
MLS 2061389
2901 NATALIE Avenue
Las Vegas, NV 89121
Winchester
Single Family Residential
4 beds3 baths1,970 sq.ft.
CAP RATE
Trad. 1.85%Airbnb 8.00%
$165,000
MLS 2075852
1801 ST LOUIS Avenue
Las Vegas, NV 89104
Huntridge
Single Family Residential
3 beds2 baths1,171 sq.ft.
CAP RATE
Trad. 2.75%Airbnb 8.00%
$660,000
MLS 2071906
2200 DIAMOND BAR Drive
Las Vegas, NV 89117
Buffalo
Single Family Residential
4 beds4 baths3,571 sq.ft.
CAP RATE
Trad. 0.54%Airbnb 8.00%
Recently Sold Homes in Las Vegas, NV
$274,999
MLS 2079140
426 15TH Street
Las Vegas, NV 89101
Cultural Corridor
Multi Family
0 beds0 baths2,150 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$499,000
MLS 2069947
2405 SUNRISE Avenue
Las Vegas, NV 89101
Downtown East
Multi Family
0 beds0 baths4,060 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$350,000
MLS 2077893
8735 SUMMONERS Court
Las Vegas, NV 89139
Enterprise
Single Family Residential
4 beds3 baths2,034 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$455,000
MLS 2077620
7960 QUAIL BREAST Lane
Las Vegas, NV 89131
Tule Springs
Single Family Residential
4 beds3 baths2,694 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
$1,750,000
MLS OC18122047
207 11th
Las Vegas, NV 89101
Downtown
Multi Family
0 beds0 baths8,678 sq.ft.
CAP RATE
Trad. 6.70%Airbnb N/A
$225,000
MLS 2053524
1124 PEARL Avenue
Las Vegas, NV 89104
Downtown East
Multi Family
0 beds0 baths3,471 sq.ft.
CAP RATE
Trad. 4.23%Airbnb N/A
$160,000
MLS 2068994
117 GEORGE Place
Las Vegas, NV 89106
Cultural Corridor
Multi Family
0 beds0 baths1,833 sq.ft.
CAP RATE
Trad. 4.19%Airbnb N/A
$164,900
MLS 2034490
5930 CASSEDY Lane
Las Vegas, NV 89122
Whitney
Multi Family
0 beds0 baths1,880 sq.ft.
CAP RATE
Trad. 3.76%Airbnb N/A
Homes Below Median Price in the Las Vegas, NV Real Estate Market
$225,000
MLS 2073690
6439 HAYDEN PEAK Lane
Las Vegas, NV 89156
Sunrise Manor
Single Family Residential
3 beds2 baths1,387 sq.ft.
CAP RATE
Trad. 1.25%Airbnb 8.00%
$320,000
MLS 2061389
2901 NATALIE Avenue
Las Vegas, NV 89121
Winchester
Single Family Residential
4 beds3 baths1,970 sq.ft.
CAP RATE
Trad. 1.85%Airbnb 8.00%
$165,000
MLS 2075852
1801 ST LOUIS Avenue
Las Vegas, NV 89104
Huntridge
Single Family Residential
3 beds2 baths1,171 sq.ft.
CAP RATE
Trad. 2.75%Airbnb 8.00%
$319,900
MLS 2030899
4846 SORRENTO Street
Las Vegas, NV 89121
Winchester
Single Family Residential
4 beds3 baths2,651 sq.ft.
CAP RATE
Trad. 1.84%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
$199 per night
$123 per night
$265 per night
$131 per night
Las Vegas, NV Homes for Rent
$1,750
MLS 2079062
210 East FLAMINGO Road #417
Las Vegas, NV
The Strip
Apartment
2 beds2 baths1,035 sq.ft.
$1,650
MLS 2079058
$1,300
MLS 2079068
210 East FLAMINGO Road #106
Las Vegas, NV
The Strip
Apartment
2 beds2 baths1,062 sq.ft.
$1,700
MLS 2079046
220 FLAMINGO Road #322
Las Vegas, NV
The Strip
Apartment
1 beds1 baths727 sq.ft.
Las Vegas, NV Open Houses
Open 1 PM to 4 PM
$285,000
MLS 2036129
1613 CATHEDRAL PEAK Court
Las Vegas, NV 89134
Desert Shores
Single Family Residential
3 beds2 baths1,153 sq.ft.
CAP RATE
Trad. 1.62%Airbnb 3.08%
Open 12 PM to 4 PM
$425,000
MLS 2078913
2620 BURTON Avenue
Las Vegas, NV 89102
Rancho Charleston
Single Family Residential
3 beds3 baths2,162 sq.ft.
CAP RATE
Trad. 0.53%Airbnb 5.24%
Open 10 AM to 1 PM
$464,900
MLS 2061532
7917 Lakepoint Circle
Las Vegas, NV 89128
Desert Shores
Other
3 beds3 baths2,485 sq.ft.
CAP RATE
Trad. -0.13%Airbnb 0.37%
Open 10 AM to 2 PM
$310,000
MLS 2075948
8900 Napoli Drive
Las Vegas, NV 89117
The Lakes
Other
3 beds2 baths1,640 sq.ft.
CAP RATE
Trad. 1.88%Airbnb 3.41%
Best Las Vegas Neighborhoods for Buying Investment Property
24%
Mashmeter
property price
$289,888
Median
cap rate
5.87%
Traditional
15.08%
Airbnb
rental income
$1,419
Traditional
$3,644
Airbnb
homes for sale
378
occupancy rate
68%
Airbnb
67%
Mashmeter
property price
$475,000
Median
cap rate
7.55%
Traditional
7.75%
Airbnb
rental income
$2,988
Traditional
$3,069
Airbnb
homes for sale
116
occupancy rate
64%
Airbnb
92%
Mashmeter
property price
$234,900
Median
cap rate
4.23%
Traditional
12.85%
Airbnb
rental income
$829
Traditional
$2,516
Airbnb
homes for sale
49
occupancy rate
52%
Airbnb
71%
Mashmeter
property price
$451,900
Median
cap rate
7.06%
Traditional
7.22%
Airbnb
rental income
$2,658
Traditional
$2,720
Airbnb
homes for sale
55
occupancy rate
53%
Airbnb
71%
Mashmeter
property price
$254,999
Median
cap rate
4.90%
Traditional
14.17%
Airbnb
rental income
$1,042
Traditional
$3,012
Airbnb
homes for sale
115
occupancy rate
54%
Airbnb