Las Vegas Real Estate Market Analysis

Las Vegas Houses for Sale

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 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

Best Short Term Rental Markets

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Short Term Rentals For Sale

Calculate annual revenue, ADR, & occupancy rates with our free Airbnb calculator

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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

Find Investment Properties

$414,900

MLS 2528604

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%

$999,000

MLS 2529019

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%

$410,000

MLS 2530357

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%

$365,000

MLS 2525307

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

Find Investment Properties

$337,900

MLS 2529241

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%

$345,000

MLS 2493307

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%

$220,000

MLS 2524050

358 Linn Lane
Las Vegas, NV 89110 Sunrise Manor

Townhouse

2 beds1 baths700 sq.ft.

CAP RATE

Trad. 2.56%Airbnb 7.98%

$325,000

MLS 2518217

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

Find Investment Properties

$286,612

MLS

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

$510,000

MLS 80252255

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

$1,708,371

MLS

169 Erie Ave
Las Vegas, NV 89183 Enterprise

Single Family Residential

4 beds5 baths5,063 sq.ft.

CAP RATE

Trad. N/AAirbnb N/A

$371,510

MLS 80100869

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

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$259,900

MLS 2513070

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

$525,000

MLS 2528842

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

$349,499

MLS 2515680

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

$324,900

MLS 2482538

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

Find Investment Properties

$337,900

MLS 2529241

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%

$345,000

MLS 2493307

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%

$220,000

MLS 2524050

358 Linn Lane
Las Vegas, NV 89110 Sunrise Manor

Townhouse

2 beds1 baths700 sq.ft.

CAP RATE

Trad. 2.56%Airbnb 7.98%

$325,000

MLS 2518217

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.