Why Live in Las Vegas
Beyond the iconic Las Vegas Strip's dazzling lights and entertainment, residents enjoy over 300 sunny days exploring Red Rock Canyon's hiking trails and scenic drives. The Fremont Street Experience illuminates downtown with the Viva Vision light show, while cultural attractions like The Mob Museum and The Neon Museum showcase the city's colorful history. Outdoor recreation extends to Lake Mead for boating and the Spring Mountains for skiing at Mount Charleston, just 45 minutes away. The Smith Center hosts Broadway shows and symphony performances, while sports fans follow the NHL's Vegas Golden Knights and NFL's Las Vegas Raiders.
The Las Vegas housing market presents diverse options across distinct neighborhoods. The median sale price in Las Vegas stands at $447,000. In Summerlin, single family homes command a median price of $590,000, while Downtown Las Vegas single family homes have a median price of $339,500. The Strip features condos with median prices of $257,000 for one bedroom units and $315,000 for two bedrooms. Chinatown condos start at a median price of $159,900 for one bedroom units.
Las Vegas maintains a cost of living 2% below the national average. Nevada has no state income tax, though residents pay a combined sales tax rate of 8.24%. Property taxes remain consistent at 0.5% across Clark County. A family with school age children should earn $105,000 annually to live comfortably, while renters need approximately $56,000. Monthly expenses for families average $9,000, including $1,600 for groceries and $2,500 for housing. The Advanced Technologies Academy and The Meadows School lead education with A+ ratings from Niche, while the University of Nevada Las Vegas serves higher education needs.
Frequently Asked Questions
What is the average home price in Las Vegas, NV?
Homes for sale in Las Vegas, NV have an average home price of $619,033.
How many homes have sold over the last 12 months in Las Vegas, NV?
15,272 homes have sold in Las Vegas, NV over the last 12 months.
Is Las Vegas, NV a safe city?
What are the most popular zip codes in Las Vegas, NV?
What are the most popular neighborhoods in Las Vegas, NV?
How much do you need to make to afford a house in Las Vegas?
The median home price in Las Vegas is $470,000. If you put a 20% down payment of $94,000 and had a 30-year fixed mortgage with an interest rate of 6.72%, your estimated principal and interest payment would be $2,430 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $104K a year to afford the median home price in Las Vegas.
How are the schools in Las Vegas, NV?
Home Trends in Las Vegas, NV
On average, homes in Las Vegas, NV sell after 43 days on the market compared to the national average of 50 days. The median sale price for homes in Las Vegas, NV over the last 12 months is $447,000, up 5% from the median home sale price over the previous 12 months.
Median Sale Price
$447,000
Median Single Family Sale Price
$505,000
Median Townhouse Sale Price
$354,990
Median 2 Bedroom Sale Price
$246,000
Median 1 Bedroom Sale Price
$185,000
Average Price Per Sq Ft
$283
Number of Homes for Sale
6,246
Last 12 months Home Sales
15,272
Median List Price
$470,000
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
5%
