Las Vegas Real Estate Market Analysis

Las Vegas Houses for Sale

Start Analyzing
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 Sale6,386
Airbnb Properties2,908
Rental Properties10,298
Traditional Vacancy rate4.70%
Airbnb Occupancy Rate54.36%
Mashmeter56.56%
Median Price$439,990
Median Rent Price$2,203
Price/sqft$364
Median Days on Market58
Price to Rent Ratio23.4
Average Cap Rate
Airbnb4.45%
Traditional2.59%
Average Rental Income
Airbnb$3,264
Traditional$1,901
 
Median Household Income$58,377
Population644,594
Transportation in Las Vegas
42 / 100
Car-Dependent
36 / 100
Some Transit
46 / 100
Somewhat Bikeable
Las Vegas  Rent Prices
RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$1,353$1,564$2,086$3,376$4,988
Traditional$1,086$1,174$1,549$2,064$2,248
Las Vegas, NV - Homes for Sale - Newly Listed
$450,000
MLS 2436837
8151 Moonlight Meadows Street
Las Vegas, NV 89113
Enterprise
Single Family Residential
3 beds3 baths1,744 sq.ft.
CAP RATE
Trad. 2.79%Airbnb 4.21%
$298,000
MLS 2436721
5125 West Reno Avenue #1083
Las Vegas, NV 89118
The Strip
Condo/Coop
3 beds2 baths1,224 sq.ft.
CAP RATE
Trad. 2.98%Airbnb 5.87%
$499,000
MLS 2433810
7837 Blue Eagle Way
Las Vegas, NV 89128
Desert Shores
Single Family Residential
4 beds3 baths1,628 sq.ft.
CAP RATE
Trad. 3.41%Airbnb 7.70%
$529,000
MLS 2436779
2794 Desert Zinnia Lane
Las Vegas, NV 89135
The Lakes
Single Family Residential
3 beds2 baths1,686 sq.ft.
CAP RATE
Trad. 2.43%Airbnb 4.22%
Top Performing Las Vegas Properties
$250,000
MLS 2436271
23 Page Street
Las Vegas, NV 89110
Sunrise
Townhouse
3 beds1 baths1,128 sq.ft.
CAP RATE
Trad. 4.98%Airbnb 8.00%
$365,000
MLS 2435525
10378 Midseason Mist Street
Las Vegas, NV 89183
Paradise
Single Family Residential
3 beds3 baths1,230 sq.ft.
CAP RATE
Trad. 3.41%Airbnb 8.00%
$250,000
MLS 2436289
19 Page Street
Las Vegas, NV 89110
Sunrise
Townhouse
3 beds1 baths1,128 sq.ft.
CAP RATE
Trad. 4.98%Airbnb 8.00%
$485,000
MLS 2423153
3624 Gainsville Street
Las Vegas, NV 89129
Lone Mountain
Single Family Residential
4 beds3 baths2,424 sq.ft.
CAP RATE
Trad. 2.84%Airbnb 8.00%
Recently Sold Homes in Las Vegas, NV
$250,000
MLS 2431659
1800 Edmond Street #215
Las Vegas, NV 89146
Rancho Charleston
Condo/Coop
2 beds2 baths926 sq.ft.
CAP RATE
Trad. 2.58%Airbnb 3.78%
$249,000
MLS 2402562
205 East Harmon Avenue #803
Las Vegas, NV 89169
The Strip
Condo/Coop
1 beds2 baths1,068 sq.ft.
CAP RATE
Trad. 0.55%Airbnb 0.26%
$325,000
MLS 2410109
4718 Pinon Pointe Road
Las Vegas, NV 89115
Sunrise Manor
Single Family Residential
3 beds3 baths1,181 sq.ft.
CAP RATE
Trad. 3.35%Airbnb 6.43%
$1,099,950
MLS 2422381
366 Calabria Ridge Street
Las Vegas, NV 89138
Summerlin North
Single Family Residential
4 beds3 baths3,013 sq.ft.
CAP RATE
Trad. 0.94%Airbnb 2.34%
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
$580,000
MLS 2417771
1725 Cordoba Lane
Las Vegas, NV 89108
Twin Lakes
Multi Family
8 beds6 baths3,720 sq.ft.
CAP RATE
Trad. 6.28%Airbnb N/A
$620,000
MLS 2429664
5125 Golden Lane
Las Vegas, NV 89119
The Strip
Multi Family
7 beds6 baths3,748 sq.ft.
CAP RATE
Trad. 6.25%Airbnb N/A
$700,000
MLS 2360753
6978 Kepler Drive
Las Vegas, NV 89156
Sunrise Manor
Multi Family
10 beds4 baths4,072 sq.ft.
CAP RATE
Trad. 5.51%Airbnb N/A
$285,000
MLS 2417858
213 Paul Avenue
Las Vegas, NV 89106
Cultural Corridor
Multi Family
4 beds2 baths1,646 sq.ft.
CAP RATE
Trad. 4.95%Airbnb N/A
Homes Below Median Price in the Las Vegas, NV Real Estate Market
$250,000
MLS 2436271
23 Page Street
Las Vegas, NV 89110
Sunrise
Townhouse
3 beds1 baths1,128 sq.ft.
CAP RATE
Trad. 4.98%Airbnb 8.00%
$365,000
MLS 2435525
10378 Midseason Mist Street
Las Vegas, NV 89183
Paradise
Single Family Residential
3 beds3 baths1,230 sq.ft.
CAP RATE
Trad. 3.41%Airbnb 8.00%
$250,000
MLS 2436289
19 Page Street
Las Vegas, NV 89110
Sunrise
Townhouse
3 beds1 baths1,128 sq.ft.
CAP RATE
Trad. 4.98%Airbnb 8.00%
$485,000
MLS 2423153
3624 Gainsville Street
Las Vegas, NV 89129
Lone Mountain
Single Family Residential
4 beds3 baths2,424 sq.ft.
CAP RATE
Trad. 2.84%Airbnb 8.00%
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
$71 per night
Entire home/apt · 1 bed
ON THE STRIP
558
$75 per night
$73 per night
Entire home/apt · 1 bed
On the strip 3
508
$73 per night
Entire home/apt · 1 bed
STRIP WALK
506
Las Vegas, NV Homes for Rent
$3,600
MLS 2436148
9620 Sedona Hills Court
Las Vegas, NV 89147
The Lakes
Single Family
4 beds4 baths3,758 sq.ft.
$1,100
MLS 2436347
$2,050
MLS 2437005
3264 Cherum Street
Las Vegas, NV 89135
The Lakes
Single Family
3 beds2 baths1,560 sq.ft.
$1,999
MLS 2437165
Las Vegas, NV Open Houses
Open 11 AM to 3 PM
$499,000
MLS 2433810
7837 Blue Eagle Way
Las Vegas, NV 89128
Desert Shores
Single Family Residential
4 beds3 baths1,628 sq.ft.
CAP RATE
Trad. 3.41%Airbnb 7.70%
Open 10 AM to 1 PM
$575,000
MLS 2436765
6430 White Tiger Court
Las Vegas, NV 89130
North Cheyenne
Single Family Residential
4 beds2 baths2,175 sq.ft.
CAP RATE
Trad. 1.81%Airbnb 5.10%
Open 10 AM to 2 PM
$599,000
MLS 2436382
1819 Sky Flower Court
Las Vegas, NV 89123
Paradise
Single Family Residential
4 beds3 baths2,657 sq.ft.
CAP RATE
Trad. 2.62%Airbnb 6.49%
Open 4 PM to 6 PM
$400,000
MLS 2434555
6965 Pacific Coast Street
Las Vegas, NV 89148
Spring Valley
Single Family Residential
3 beds2 baths1,509 sq.ft.
CAP RATE
Trad. 3.41%Airbnb 5.08%
Best Las Vegas Neighborhoods for Buying Investment Property
Centennial Hills
Las Vegas, NV
74%
Mashmeter
property price
458944
Median
cap rate
3.92%
Traditional
5.96%
Airbnb
rental income
$1,498
Traditional
$2,278
Airbnb
homes for sale
1
occupancy rate
50%
Airbnb
Lone Mountain
Las Vegas, NV
70%
Mashmeter
property price
472250
Median
cap rate
4.01%
Traditional
10.87%
Airbnb
rental income
$1,577
Traditional
$4,278
Airbnb
homes for sale
1
occupancy rate
58%
Airbnb
Tule Springs
Las Vegas, NV
68%
Mashmeter
property price
515500
Median
cap rate
3.90%
Traditional
6.88%
Airbnb
rental income
$1,673
Traditional
$2,955
Airbnb
homes for sale
1
occupancy rate
61%
Airbnb
Kyle Canyon
Las Vegas, NV
68%
Mashmeter
property price
494950
Median
cap rate
3.72%
Traditional
8.09%
Airbnb
rental income
$1,535
Traditional
$3,335
Airbnb
homes for sale
1
occupancy rate
55%
Airbnb
Michael Way
Las Vegas, NV
68%
Mashmeter
property price
379000
Median
cap rate
4.26%
Traditional
8.30%
Airbnb
rental income
$1,347
Traditional
$2,622
Airbnb
homes for sale
1
occupancy rate
53%
Airbnb