Mashvisor Home

Discover

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 Sale2,780
Airbnb Properties940
Rental Properties8,588
Traditional Vacancy rate4.70%
Airbnb Occupancy Rate59.21%
Mashmeter67.23%
Median Price$349,900
Median Rent Price$1,685
Price/sqft$258
Median Days on Market90
Price to Rent Ratio27.8
Average Cap Rate
Airbnb4.54%
Traditional2.55%
Average Rental Income
Airbnb$2,778
Traditional$1,425
 
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$1,273$1,348$1,897$3,237$4,306
Traditional$886$884$1,128$1,506$2,029
Las Vegas, NV - Homes for Sale - Newly Listed
$137,000
MLS 2286877
2200 Fort Apache Road #2186
Las Vegas, NV 89117
The Lakes
Condo/Coop
1 beds1 baths752 sq.ft.
CAP RATE
Trad. 5.18%Airbnb 6.77%
$364,900
MLS 2286577
6724 Garden Grove Avenue
Las Vegas, NV 89103
Spring Valley
Single Family Residential
3 beds2 baths1,420 sq.ft.
CAP RATE
Trad. 2.52%Airbnb 4.15%
$288,000
MLS 2286445
9444 Borough Park Street
Las Vegas, NV 89178
Enterprise
Townhouse
3 beds2 baths1,202 sq.ft.
CAP RATE
Trad. 3.93%Airbnb 7.28%
$699,000
MLS 2286756
4804 Laurentia Avenue
Las Vegas, NV 89141
Enterprise
Single Family Residential
4 beds6 baths4,476 sq.ft.
CAP RATE
Trad. 1.10%Airbnb 2.02%
Top Performing Las Vegas Properties
$169,000
MLS 2280374
7950 Flamingo Road #2058
Las Vegas, NV 89147
Spring Valley
Condo/Coop
2 beds2 baths1,023 sq.ft.
CAP RATE
Trad. 4.61%Airbnb 8.00%
$178,000
MLS 2277848
10550 Alexander Road #2129
Las Vegas, NV 89129
Lone Mountain
Condo/Coop
1 beds1 baths821 sq.ft.
CAP RATE
Trad. 3.66%Airbnb 7.99%
$175,000
MLS 2270252
8600 Charleston Boulevard #2079
Las Vegas, NV 89117
The Lakes
Condo/Coop
2 beds2 baths998 sq.ft.
CAP RATE
Trad. 5.35%Airbnb 7.98%
$175,000
MLS 2283231
8600 Charleston Boulevard #2066
Las Vegas, NV 89117
The Lakes
Condo/Coop
2 beds2 baths998 sq.ft.
CAP RATE
Trad. 5.35%Airbnb 7.98%
Recently Sold Homes in Las Vegas, NV
$240,000
MLS 2281953
313 Paul Avenue
Las Vegas, NV 89106
West Las Vegas
Multi Family
0 beds0 baths1,646 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$459,000
MLS 2282703
2804 Marlin Avenue
Las Vegas, NV 89101
Downtown East
Multi Family
0 beds0 baths3,504 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$425,000
MLS 2286665
1905 Stewart Avenue
Las Vegas, NV 89101
Downtown East
Multi Family
0 beds0 baths2,202 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$400,000
MLS 2285987
1956 Dwarf Star Drive
Las Vegas, NV 89115
Sunrise
Multi Family
0 beds0 baths3,212 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
$295,000
MLS 2250379
356 North 15th Street
Las Vegas, NV 89101
Cultural Corridor
Multi Family
0 beds0 baths2,430 sq.ft.
CAP RATE
Trad. 4.09%Airbnb N/A
$250,000
MLS 2232032
2511 Sunrise Street
Las Vegas, NV 89101
Downtown East
Multi Family
0 beds0 baths1,576 sq.ft.
CAP RATE
Trad. 3.91%Airbnb N/A
$199,900
MLS 2280641
711 Harrison Avenue
Las Vegas, NV 89106
West Las Vegas
Multi Family
0 beds0 baths1,480 sq.ft.
CAP RATE
Trad. 3.75%Airbnb N/A
$250,000
MLS 2276685
1808 Carey Avenue
Las Vegas, NV 89030
Cultural Corridor
Multi Family
0 beds0 baths1,329 sq.ft.
CAP RATE
Trad. 3.44%Airbnb N/A
Homes Below Median Price in the Las Vegas, NV Real Estate Market
$169,000
MLS 2280374
7950 Flamingo Road #2058
Las Vegas, NV 89147
Spring Valley
Condo/Coop
2 beds2 baths1,023 sq.ft.
CAP RATE
Trad. 4.61%Airbnb 8.00%
$178,000
MLS 2277848
10550 Alexander Road #2129
Las Vegas, NV 89129
Lone Mountain
Condo/Coop
1 beds1 baths821 sq.ft.
CAP RATE
Trad. 3.66%Airbnb 7.99%
$175,000
MLS 2270252
8600 Charleston Boulevard #2079
Las Vegas, NV 89117
The Lakes
Condo/Coop
2 beds2 baths998 sq.ft.
CAP RATE
Trad. 5.35%Airbnb 7.98%
$175,000
MLS 2283231
8600 Charleston Boulevard #2066
Las Vegas, NV 89117
The Lakes
Condo/Coop
2 beds2 baths998 sq.ft.
CAP RATE
Trad. 5.35%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
$195 per night
$58 per night
$117 per night
$51 per night
Entire home/apt · 2 beds
ON THE STRIP
418
Las Vegas, NV Homes for Rent
$1,200
MLS 2286421
$1,650
MLS 2286463
1025 WHISPERING BIRCH Avenue
Las Vegas, NV
Paradise
Single Family
3 beds2 baths1,516 sq.ft.
$1,800
MLS 2286700
102 Arbor Creek Court
Las Vegas, NV
Paradise
Single Family
4 beds3 baths1,606 sq.ft.
$2,200
MLS 2286718
Las Vegas, NV Open Houses
Open 10 AM to 2 PM
$330,000
MLS 2286020
10827 Muscari Way
Las Vegas, NV 89141
Enterprise
Single Family Residential
2 beds3 baths1,609 sq.ft.
CAP RATE
Trad. 2.16%Airbnb 2.10%
Open 11:30 AM to 2:30 PM
$399,000
MLS 2285637
4561 Paseo El Rio Drive
Las Vegas, NV 89121
Winchester
Single Family Residential
3 beds3 baths2,246 sq.ft.
CAP RATE
Trad. 1.50%Airbnb 5.06%
Open 10 AM to 1 PM
$305,000
MLS 2284936
5957 Santoli Avenue
Las Vegas, NV 89139
Enterprise
Single Family Residential
4 beds3 baths1,746 sq.ft.
CAP RATE
Trad. 4.55%Airbnb 6.65%
Open 11 AM to 2 PM
$379,900
MLS 2285110
5100 Backwoodsman Avenue
Las Vegas, NV 89130
North Cheyenne
Single Family Residential
4 beds3 baths1,758 sq.ft.
CAP RATE
Trad. 2.70%Airbnb 3.47%
Best Las Vegas Neighborhoods for Buying Investment Property
76%
Mashmeter
property price
$290,000
Median
cap rate
7.87%
Traditional
17.37%
Airbnb
rental income
$1,901
Traditional
$4,197
Airbnb
homes for sale
367
occupancy rate
57%
Airbnb
68%
Mashmeter
property price
$532,450
Median
cap rate
8.11%
Traditional
7.03%
Airbnb
rental income
$3,597
Traditional
$3,117
Airbnb
homes for sale
108
occupancy rate
53%
Airbnb
77%
Mashmeter
property price
$315,000
Median
cap rate
3.59%
Traditional
10.84%
Airbnb
rental income
$941
Traditional
$2,847
Airbnb
homes for sale
23
occupancy rate
61%
Airbnb
70%
Mashmeter
property price
$418,900
Median
cap rate
7.64%
Traditional
8.44%
Airbnb
rental income
$2,668
Traditional
$2,948
Airbnb
homes for sale
31
occupancy rate
64%
Airbnb
68%
Mashmeter
property price
$286,450
Median
cap rate
4.68%
Traditional
12.62%
Airbnb
rental income
$1,117
Traditional
$3,013
Airbnb
homes for sale
138
occupancy rate
61%
Airbnb