Las Vegas, Nevada Housing Market Prices
Las Vegas Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 2% above the Nevada median$363,283
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Median rent 2% below the Nevada median$1,563
Housing Market Overview
| Metric | Las Vegas | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $363,283 | $357,758 | $248,835 |
| Price Trend (Annual %) | 8.8% | 9.4% | 7.5% |
| Median Gross Rent | $1,563 | $1,597 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Las Vegas is about 2% higher than in Nevada. Rent is about 2% lower than the Nevada average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Las Vegas, up about 8.8% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Las Vegas rose about 60.5% between 2015 and 2024, from $974 to $1,563. Over the same span, rent in Nevada rose about 64.3%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Las Vegas.
Buying the median-priced home in Las Vegas costs roughly 19.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Las Vegas. The price-to-rent ratio in Nevada is about 18.7.
| Metric | Las Vegas | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $363,283 | $357,758 | $248,835 |
| Median Household Income | $73,149 | $78,637 | $80,455 |
| Price-to-Income Ratio | 5.0 | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Las Vegas rose about 120.7%, while median household income rose about 30.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Las Vegas | Nevada Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.0% | 54.4% | 58.5% |
| Rental Rate | 40.5% | 36.3% | 31.2% |
| Vacancy Rate | 7.5% | 9.3% | 10.2% |
| Median Tenure (years) | 11.0 | 12.0 | 15.0 |
| Median Year Moved In | 2015 | 2014 | 2011 |
Las Vegas has a homeownership rate of 52.0%, lower than the Nevada average of 54.4%. Its housing vacancy rate is 7.5%, compared with 9.3% in Nevada.
Housing Stock
| Metric | Las Vegas | Nevada Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.62 people | 2.53 people |
| Median Structure Built Year | 1991 | 1993 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Las Vegas was built around 1991. On average, 2.6 people live in a home with about 5.3 rooms, staying for about 11.0 years on average.
Las Vegas, NV Housing Compared With Nearby Cities
Las Vegas, NV is the largest of the 6 cities compared here, 628,856 residents against a local median of 186,450. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Las Vegas, NV an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is homeownership, 12% above the local median at 56.2% against 50.3%. Las Vegas, NV has the 3rd highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Las Vegas, NV | 628,856 | $363,283 #3/6 | $1,563 #4/6 | 56.2% #3/6 |
| Summerlin South, NV | 29,809 | $625,000 | $2,507 | 69.3% |
| Spring Valley, NV | 217,800 | $378,472 | $1,740 | 50.3% |
| Winchester, NV | 36,180 | $250,924 | $1,220 | 33.0% |
| North Las Vegas, NV | 280,670 | $360,656 | $1,702 | 63.3% |
| Paradise, NV | 186,450 | $316,809 | $1,367 | 41.1% |
Frequently Asked Questions
Common questions about the housing market in Las Vegas, Nevada.
What is the median home price in Las Vegas, Nevada?
The median home price in Las Vegas, Nevada is $363,283, higher than the Nevada average of $357,758.
What is the average home price in Las Vegas, Nevada?
The typical home price in Las Vegas, Nevada, reported as the median sale price, is $363,283. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Las Vegas, Nevada?
The median gross rent in Las Vegas, Nevada is $1,563 per month, lower than the Nevada average of $1,597.
What was the median gross rent in Las Vegas in 2020?
In 2020, the median gross rent in Las Vegas, Nevada was $1,155 per month.
What is the price-to-rent ratio in Las Vegas, Nevada?
The price-to-rent ratio in Las Vegas, Nevada is about 19.4, meaning it would take roughly 19.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Las Vegas.
Are home prices or rent rising faster in Las Vegas, Nevada?
Both home prices and rent are rising in Las Vegas, up about 8.8% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Las Vegas, Nevada?
52.0% of households in Las Vegas, Nevada own their home, lower than the Nevada average of 54.4%.
What is the vacancy rate in Las Vegas, Nevada?
The housing vacancy rate in Las Vegas, Nevada is 7.5%, lower than the Nevada average of 9.3%.
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