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Rents Are On the Rise in The City of Lights

AKA: The Entertainment Capital of the World, Sin City, City of Lights, America’s Playground

Population: 2,114,801 • Average days on market: 20 • Average gross yield: 7.3%

# of Building Permits in 2015: 10,605 • Employment Growth to Building Permits Ratio in 2015: 4.7%

 

Drivers: Las Vegas was voted in the top 50 on WalletHub’s 2016 Best Large Cities to Live In. It ranked #2 on the Best Cities for Recreation, no surprise since it’s home to the infamous Las Vegas Strip and some of the most extravagant and luxurious hotels in the world.

 

Leading industries: Las Vegas’ economy is dominated by the food services and hospitality industries. However, the retail, healthcare and administrative services industries assist in fueling the economy. Vegas is home to two company headquarters in the Fortune 500: MGM Resorts International and Caesars Entertainment.

 

Notable mentions: As you may have guessed, Las Vegas is a global leader in the hospitality industry. Home to more AAA Five Diamond hotels than any other city, the world-renowned Las Vegas Strip attracts tourists from all over the world. It consistently ranks as a top tourist destination.

  • Job Growth
    12,002 new jobs created in 2015
     
  • Population Growth
    45,655 new residents added in 2015
     
  • Vacancy
    4.0%, down from 4.2% in 2015
     

Market Data

 
 
 
 
 
 
All data provided by Census, Bureau of Labor Statistics, RentRange®, Fortune, Wikipedia, WalletHub. Market Data based on 3bd SFR

Local Resources in Metro Las Vegas Area

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