They say that what happens in Las Vegas stays in Las Vegas, although it appears the word has gotten out when it comes to owning investment property. Home values in the metropolitan area have increased by over 30% year over year, while rent prices have grown by more than 20%.
While there may be plenty of great investment properties in Las Vegas, it’s important to know where to look. Metropolitan Las Vegas/Clark County is the thirteenth largest county in the country, covering an area the size of New Jersey.
Here are 15 Las Vegas neighborhoods and suburbs in which to consider purchasing investment property, including several areas where 50% or more of residents rent their homes.
Key takeaways
- Las Vegas is home to over 641,000 residents in the city and nearly 2.3 million in the metropolitan area.
- Home values in metropolitan Las Vegas have increased by 30.5% over the past year, while rent prices for 3-bedroom homes have grown by 23% year over year.
- Neighborhoods in Las Vegas with large percentages of renters include the city of Las Vegas, Winchester, and Spring Valley—the best suburb in Las Vegas.
>>Explore Roofstock's Las Vegas investment properties.
Why invest in Las Vegas?
Since 1930, Clark County (where Las Vegas is located) has outpaced U.S. population growth, and Las Vegas Valley shows no signs of slowing down. According to the most recent census, the population of the city grew by 10%, while the population of Clark County soared by more than 16%.
While the economy of Las Vegas is still driven by tourism and gaming, the job market is becoming more diverse. For example, the Las Vegas Medical District (LVMD), a collaborative effort between the city and the health-care community, is expected to create 20,000 new jobs and have an economic impact of $3 billion per year.
Population and job growth drive the demand for housing and rental property. Over the past 12 months, the value of a middle-price-tier home in Las Vegas increased by 30.5% (Zillow through February 2022).
Las Vegas is also a popular town for renting, and in some neighborhoods and suburbs, there are more renters than homeowners. According to Zumper, 41% of households in the metropolitan area are renter-occupied, and rents for 3-bedroom properties in Las Vegas have grown by 23% year over year.
15 great areas in Las Vegas for investment properties
There are over 50 neighborhoods in Las Vegas and the surrounding suburbs to consider, with home prices ranging from $185K to $25M.
Here are 15 neighborhoods in Las Vegas and the metropolitan area to consider, based on data from:
- Niche.com (suburb descriptions, population, median rent, percentage of renter-occupied households, and median household income)
- Redfin (median sales price, change in sales price, and days on market)
Las Vegas
Other than the Las Vegas Strip, most of the city has a dense suburban feel with a lot of options for dining, entertainment, and nightlife. Nearly half of households in Las Vegas are occupied by renters, making the city a good place to consider for investment property:
- Population: 641,903
- Median sale price: $420,000
- Change in sales price (year over year): 30.0%
- Days on market: 21
- Median rent: $1,102
- Renter-occupied households: 47%
- Median household income: $56,354
- ZIP codes: 88901, 89102, 89108, 89117
Henderson
Henderson is the second-most-populous city in Nevada, after Las Vegas, and is 18 miles southeast of the Las Vegas Strip. Henderson occupies the southeastern end of the Las Vegas Valley and has a dense suburban feel:
- Population: 300,116
- Median sale price: $480,000
- Change in sales price (year over year): 26.3%
- Days on market: 28
- Median rent: $1,292
- Renter-occupied households: 36%
- Median household income: $74,147
- ZIP codes: 89002, 89012, 89044, 89105
Winchester
Winchester, east of the Las Vegas Strip, is home to Sunrise Hospital and Medical Center and the Circus Circus Hotel and Casino. The neighborhood has an urban feel and more renters than homeowners:
- Population: 28,231
- Median sale price: $375,000
- Change in sales price (year over year): 29.4%
- Days on market: 34
- Median rent: $933
- Renter-occupied households: 64%
- Median household income: $39,020
- ZIP codes: 89104, 89114, 89121, 89169
Spring Valley
Niche.com ranks Spring Valley as the best suburb in the Las Vegas area. Located 5 miles west of the Strip, Spring Valley has a dense suburban feel and more renters than homeowners:
- Population: 207,127
- Median sale price: $405,000
- Change in sales price (year over year): 25.4%
- Days on market: 14
- Median rent: $1,191
- Renter-occupied households: 55%
- Median household income: $58,388
- ZIP codes: 89102, 89117, 89147, 89178
The Lakes
The Lakes is a 2-square-mile planned community 7 miles northwest of the Strip, via East Flamingo Road. The Lakes is ranked as one of the best neighborhoods in Las Vegas by Niche.com, and nearly half of residents rent their homes:
- Population: 19,823
- Median sale price: $455,000
- Change in sales price (year over year): No data available
- Days on market: 64
- Median rent: $1,484
- Renter-occupied households: 48%
- Median household income: $63,707
- ZIP code: 89117
Canyon Gate
Canyon Gate is 8 miles northwest of the Las Vegas Strip, near The Lakes and Spring Valley neighborhoods. The neighborhood has a dense suburban feel, and 50% of homes in Canyon Gate are occupied by renters:
- Population: 25,481
- Median sale price: $505,000
- Change in sales price (year over year): 17.9%
- Days on market: 45
- Median rent: $1,349
- Renter-occupied households: 50%
- Median household income: $66,333
- ZIP codes: 89117, 89146
Peccole Ranch
Peccole Ranch, a master-planned community 15 miles west of Las Vegas, is the second-best neighborhood in Las Vegas, according to Niche.com. Peccole Ranch has an urban-suburban feel, with a lot of restaurants and parks, and more renters than homeowners:
- Population: 11,387
- Median sale price: $451,750
- Change in sales price (year over year): 20.5%
- Days on market: 61
- Median rent: $1,411
- Renter-occupied households: 53%
- Median household income: $69,404
- ZIP code: 89117
Sovana
Sovana is 8 miles from Las Vegas, just south of Spring Valley and near the Spring Valley Hospital Medical Center and the Southern Hills Hospital and Medical Center. Sovana has a dense suburban feel and more renters than homeowners:
- Population: 17,042
- Median sale price: $480,000
- Change in sales price (year over year): 37.1%
- Days on market: 29
- Median rent: $1,262
- Renter-occupied households: 52%
- Median household income: $69,252
- ZIP code: 89113
Enterprise
Founded in 1996, Enterprise is an unincorporated suburb of Las Vegas 10 miles southwest of the Strip. Enterprise has a dense suburban feel, with a lot of restaurants and coffee shops, and is a short distance from Sloan Canyon National Conservation Area:
- Population: 171,108
- Median sale price: $470,000
- Change in sales price (year over year): 32.6%
- Days on market: 21
- Median rent: $1,434
- Renter-occupied households: 39%
- Median household income: $81,461
- ZIP codes: 89113, 89123, 89139, 89183
Whitney
The suburb of Whitney has a dense suburban feel and a lot of bars and parks. Located 9 miles east of Las Vegas, near the Clark County Wetlands Park, nearly half of Whitney residents rent their homes:
- Population: 42,973
- Median sale price: $335,000
- Change in sales price (year over year): 32.3%
- Days on market: 24
- Median rent: $1,117
- Renter-occupied households: 48%
- Median household income: $49,699
- ZIP codes: 89122, 89142
Summerlin
Niche.com ranks Summerlin as the best neighborhood in Las Vegas. Summerlin is 14 miles northwest of Las Vegas via I-15 and has a dense suburban feel, with a lot of coffee shops and parks:
- Population: 125,001
- Median sale price: $619,000
- Change in sales price (year over year): 19.5%
- Days on market: 27
- Median rent: $1,480
- Renter-occupied households: 40%
- Median household income: $74,688
- ZIP codes: 89128, 89134, 89144, 89145
Sunrise Manor
Sunrise Manor is just south of Nellis Air Force Base, about 12 miles northeast of Las Vegas via I-15. Sunrise Manor has a dense suburban feel, and 50% of residents rent their homes:
- Population: 193,781
- Median sale price: $330,000
- Change in sales price (year over year): 32.5%
- Days on market: 15
- Median rent: $958
- Renter-occupied households: 50%
- Median household income: $43,241
- ZIP codes: 89101, 89115, 89121, 89191
North Las Vegas
North Las Vegas is near Sunrise Manor and Nellis Air Force Base, 8 miles north of the Las Vegas Strip. North Las Vegas has a sparse suburban feel, with a lot of parks and entertainment options nearby:
- Population: 241,369
- Median sale price: $400,000
- Change in sales price (year over year): 29.1%
- Days on market: 17
- Median rent: $1,206
- Renter-occupied households: 42%
- Median household income: $59,835
- ZIP codes include: 89030, 89033, 89085, 89115
Boulder City
Located 30 miles southeast of Las Vegas near Lake Mead and the Hoover Dam, Boulder City has a suburban-rural feel and good nearby options for dining and entertainment:
- Population: 15,840
- Median sale price: $435,000
- Change in sales price (year over year): 17.9%
- Days on market: 36
- Median rent: $1,002
- Renter-occupied households: 32%
- Median household income: $61,787
- ZIP codes: 89002, 89005, 89006, 89046
Moapa Valley
Moapa Valley is located between Lake Mead and Valley of Fire State Park, about 60 miles northeast of Las Vegas. Moapa Valley has a lot of parks in the area and a suburban-rural feel:
- Population: 7,213
- Median sale price: $495,000
- Change in sales price (year over year): 78.1%
- Days on market: 51
- Median rent: $876
- Renter-occupied households: 23%
- Median household income: $66,806
- ZIP codes: 89021, 89037, 89040, 89067
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