When it comes to real estate investment, Las Vegas is an ideal location to consider. The city's population has grown by 10% in the last census, while the population of Clark County skyrocketed by more than 16%. This has caused a surge in demand for housing and rental properties, with the value of a mid-priced home in Las Vegas increasing by 30.5% (Zillow) through February 2020. Rental prices have also grown by more than 20%, with 41% of homes in the metropolitan area occupied by tenants.
Las Vegas is an attractive real estate market for long-term investments, as all types of housing, including traditional single-family homes and condominiums, are on the rise. Families and businesses are looking to move to Las Vegas to reduce taxes and home prices, while companies and startups are relocating from other cities as the industry increases. Shopping malls, schools and other essentials are sure to follow all the homes that are springing up here, making this area increasingly attractive to homebuyers and real estate investors. Low taxes and the absence of personal and corporate income taxes, in general, are a big attraction for companies and the reason why they chose Las Vegas to move to.
The city is also a popular tourist spot, as it is home to the largest gambling and entertainment center in the country. This means that there is no shortage of people looking for a place to rent in Las Vegas. The Las Vegas real estate market is still relatively affordable than expensive U. S.
seller's markets, making it a great place for real estate investment. Nine months after the COVID-19 health crisis began, Las Vegas ranked fourth among major metropolitan areas in terms of the increase in home prices, which had skyrocketed by 18%. Overall, property values are appreciating, making Las Vegas an attractive real estate market for long-term investments. If you are a real estate investor, the Las Vegas area is growing and will continue to grow next year.
All types of properties can generate income from your investment in the Las Vegas area, such as condominiums and traditional single-family homes.