Las Vegas appreciation rates and housing market information

Las Vegas housing market information

With a population of 478,868, 190,862 total housing units (homes and apartments), and a median house value of $217,765, Las Vegas real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Las Vegas, accounting for 56.21% of the city's housing units. Other types of housing that are prevalent in Las Vegas include large apartment complexes or high rise apartments (25.19%), duplexes, homes converted to apartments, or other small apartment buildings (10.28%), row houses and other attached homes (6.43%), and a few mobile homes or trailers (1.84%).

People in Las Vegas primarily live in small (one, two, or no bedroom) single-family detached homes. Las Vegas has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Las Vegas built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Las Vegas built from 1995 and later (28.02%). A lesser amount of the housing stock also hails from 1940-1969 (18.33%), and some were built from 1939 and earlier (18.33%).

Las Vegas home appreciation rates

Real estate appreciation rates in Las Vegas have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.35% during the period.

Over the last year, Las Vegas appreciation rates have trailed the rest of the nation. In the last twelve months, Las Vegas's appreciation rate has been -27.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Las Vegas were at -1.05%, which equates to an annual appreciation rate of -4.20%.

Notably, Las Vegas's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Nevada, our data show that Las Vegas's latest annual appreciation rate is higher than 10% of the other cities and towns in Nevada.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Las Vegas differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Las Vegas - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Las Vegas real estate investment or home purchase decisions.