Investment, Vacation homes & real estate

Real Estate Investment in Las Vegas: What Sin City Has to Offer?

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Real Estate Investment in Las Vegas: What Sin City Has to Offer?

It’s no secret: when Americans think “good time” for their vacation plans, their thoughts turn to Las Vegas. Whether for the casinos, the hot, dry weather, or the allure of “What Happens in Vegas stays in Vegas”, more than 42 million tourists visited the Nevada city in 2015 alone. For real estate investors, the combination of vacationers looking for short-term rentals and the high demand for long-term rental properties means that Las Vegas merits significant consideration.

Here are the statistics to know:

-48% of households in Las Vegas are renters.

-Rental vacancy rates are very low: 5.1% (Compare that to Orlando’s 9.2% or Phoenix’s 8.1%)

-The housing market overall is trending upward as the city continues its recovery from recession lows.

-Las Vegas’ job market is expected to rank sixth in overall growth in 2016, particularly in the hospitality, technology, and construction sectors.

Nevada has tax advantages that appeal to investors (low property taxes) as well as residents (no state income tax).

And, don’t be deterred by Las Vegas’ reputation (as illustrated by its nickname of “Sin City”). Many families choose to make it their home as well — so many, in fact, that Clark County is known for having more job openings for teachers than almost anywhere else in the country! Plus, kid-friendly shows and waterparks attract tourists with children, and larger families appreciate the convenience of a vacation rental perhaps even more than their party-seeking counterparts.

So, although Las Vegas may not have been the first city to come to mind as a location for an international investor, you’ll want to take a look! It just might become the best-performing piece in your real estate portfolio. 

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las vegas, investments, economy, real estate