Roofstock HQ is excited to announce that we are expanding our marketplace to Las Vegas, Nevada! After extensive research and evaluation, we have determined Las Vegas as a market with good potential for investment as it continues to show growth across multiple sectors.
Las Vegas was one of the regions most impacted by the recession, but has seen significant recovery in the years since. Home prices have risen 80% since the recession, but still remain 35% below their peak value. Rents are also expected to keep pace with rising home values, leading industry experts to believe that Las Vegas will outperform most U.S. markets by 2019.
In addition to high home price appreciation and rent growth, the demographics of the Las Vegas market also make it a favorable region for investing in Single-Family Rental (SFR) properties. SFRs make up over a third of all housing in the region, with occupancy rates of around 96%. Residents in the region have also shown preference for renting vs buying, which indicates potential for growth in the local SFR market.
Las Vegas is a cultural, commercial, and financial hub which supports job and population growth. It has also developed into a tech hub for start-ups, due to a number of key advantages: “Early-stage start-ups have potentially lengthier runways than in Silicon Valley or other locations. Nevada's income tax rate is zero, founders sometimes have a simpler time hiring cheaper developer talent, and office space comes cheap.”* In addition to job growth, Las Vegas continues to show strong fundamentals (household growth, income growth and housing supply) that drive SFR investment returns.
We are very excited to add Las Vegas to the Roofstock Marketplace, and are constantly adding new markets and properties. Stay tuned for more exciting markets!