Nevada real estate and demographic information

Nevada History and Economy

Nevada can best be described as a state that has ingeniously created a niche for itself out of seemingly unpromising origins. Originally settled by miners, who came after gold and silver were discovered in 1859, in some senses Nevada remains an outpost of the Wild West, where social behavior is regulated more by market forces than by laws. Just as small mining towns survived by providing illicit attractions - drinking, gambling, prostitution - Nevada, as one observer has noted, "built an economy by legalizing everything that was illegal in California." Nevada today is known for its permissiveness. Las Vegas capitalized on this reputation with a recent tourism slogan: "What happens in Vegas, stays in Vegas." Sin City indeed.

Nevada Demographics and Real Estate Information

More and more every day, people are staying in Las Vegas. Ironically, its Spanish name means "the meadows," but Las Vegas is famous worldwide for its strip of flashy lighted casino signs, reportedly visible at night from space. The largest U.S. city founded in the 20th century, Las Vegas was 29th in size in 2000 but is expected to break into the top 20 by 2010. The state's astounding population growth (up 66% from 1990 to 2000) means that Las Vegas, by far its major city, is booming.

Real estate prices in Nevada have increased almost as fast as the population. Just a decade ago, home prices in the Las Vegas area were affordable compared to Los Angeles, San Diego and Phoenix. However, the flood of new residents coming into Nevada created tremendous demand for real estate, and median home value in Las Vegas is now $283,000, well above the U.S. median. The resulting suburban sprawl of new homes gobbling up the desert surrounding Las Vegas has placed a strain on drinking water supplies, a perennial and deepening concern in Western states in general.

Nevada Industry and Tourism

Although the Silver State still leads the U.S. in production of that metal as well as gold, its leading industry is tourism, specifically gambling, representing 50% of the state's tax revenues. The hotels, casinos, nightclubs, and other entertainment venues of Las Vegas have attracted other tourist-friendly businesses. Golf courses, upscale spas, and amusement parks are targeted at non-gamblers; currently in the works are giant furniture and jewelry expo centers designed to lure shoppers looking for a place to spend their casino winnings. Another major attraction in the area is Lake Mead, the nation's largest man-made lake and reservoir formed by the construction of the Hoover Dam in 1935. In this desert state, boaters, swimmers, and water-skiers consider Lake Mead a 247-square-mile water wonderland.

Though it represents a significant addition to the state's economy, Nevada has vigorously opposed the federal government's plans to construct a nuclear waste disposal facility at Yucca Mountain, a remote desert area 100 miles northwest of Las Vegas. Nevadans may resent the fact that fully 87% of state land is under federal control, and state and local governments have little input into how federal lands are used. Furthermore, the federal government may have engendered mistrust in Nevada through its secrecy regarding Area 51 within the Nellis Air Force Base. Area 51 has been the subject of much speculation about UFO sightings, government cover-ups, and covert military operations involving everything from time travel to a staged moon landing.