Las Vegas, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Las Vegas Neighborhoods Since 2000




Las Vegas, NM Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Las Vegas Housing Market Information

With a population of 13,386, 5,081 total housing units (homes and apartments), and a median house value of $103,191, house prices in Las Vegas are solidly below the national average.

Single-family detached homes are the single most common housing type in Las Vegas, accounting for 61.56% of the city's housing units. Other types of housing that are prevalent in Las Vegas include mobile homes or trailers ( 17.41%), duplexes, homes converted to apartments or other small apartment buildings ( 12.11%), and a few large apartment complexes or high rise apartments ( 6.67%).

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 to 1999 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 between 1940-1969 ( 32.52%). A lesser amount of the housing stock also hails from before 1939 ( 19.73%). There's also some housing in Las Vegas built between 2000 and later ( 5.74%).

Vacant housing appears to be an issue in Las Vegas. Fully 18.31% of the housing stock is classified as vacant. Left unchecked, vacant Las Vegas homes and apartments can be a drag on the real estate market, holding Las Vegas real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Las Vegas Home Appreciation Rates

Appreciation rates for homes in Las Vegas have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.28%, which ranks in the top 50% nationwide. This equates to an annual average Las Vegas house appreciation rate of 0.23%.

Appreciation rates are so strong in Las Vegas that despite a nationwide downturn in the housing market, Las Vegas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Las Vegas appreciation rates continue to be some of the highest in America, at 5.89%, which is higher than appreciation rates in 73.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Las Vegas. Las Vegas appreciation rates in the latest quarter were at 1.52%, which equates to an annual appreciation rate of 6.23%.

Relative to New Mexico, our data show that Las Vegas's latest annual appreciation rate is higher than 60% of the other cities and towns in New Mexico.

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 2000, to assist you in making the best Las Vegas real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$103,191

Las Vegas, NM HOME PRICES

Value Range
> $1,045,000 0.7
$784,001 - $1,045,000 0.0
$523,001 - $784,000 0.1
$418,001 - $523,000 0.0
$313,001 - $418,000 3.9
$209,001 - $313,000 13.1
$104,001 - $209,000 40.2
$52,001 - $104,000 19.9
$0 - $52,000 22.2

Low for NM
Low for Nation

Value Relative to Nation Value Relative to State
75.5302941521153 63.7931034482759

Number Of Homes And Apartments:
5,081

Las Vegas Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.08% 1.63% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$792 / per month

Homeownership Rate

Homeownership
Owners 56.08
Renters 43.92
Vacant 18.31

Housing Market Details

 

Age of Homes

AGE OF Las Vegas HOMES
2000 or Newer 5.7
1970 - 1999 42.0
1940 - 1969 32.5
1939 or Older 19.7

Types of Homes

TYPE OF Las Vegas HOMES
Single-Family 61.6
Townhomes 2.3
Small Apt. Buildings 12.1
Apt. Complexes 6.7
Mobile Homes 17.4
Other 0.0

Home Size

SIZE OF Las Vegas HOMES
No Bedroom 2.09
1 Bedroom 16.74
2 Bedrooms 35.24
3 Bedrooms 38.12
4 Bedrooms 6.38
5 or more bedrooms 1.43

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Zip Codes in Las Vegas, NM