North Las Vegas
The Tourism-Driven City
Discover North Las Vegas's Real Estate
Located in the Las Vegas Valley, this desert city is a place to behold. It is surrounded by numerous mountain ranges, which is an attraction for tourists who love to hike. With the increasing tourism, stable economy, low cost of living, and affordable real estate, North Las Vegas is an investor's delight.
Culture, History, and Business
North Las Vegas, a city, founded in May 1946, is situated in Nevada’s Clark County. It is the fourth largest city in the state and lies with the Mojave Desert, which is in the south-western part of the United States. This city is in the north-west part of Las Vegas.
Like the rest of the region, the city is part of the desert metropolitan area and is the main economic hub. Visitors and tourists visit here from around the globe to have a feel of hotel-casinos that have birthed numerous world places such as King Tut’s tomb. Presently, most hotels here are in their second generation as then old ones have been torn down to give room for the construction of new ones. The Strip extends south from Las Vegas Boulevard, and this desert town presents so many opportunities that support growth. The strong growth in the city is tied to its tourism trade. Most immigrants who want to bypass the high living costs in other West Coast cities settle here.
Real Estate Appeal
North Las Vegas has some interesting real estate trends. The average home value, specifically in North Las Vegas, is about $260,900. The values of the homes have risen about 3.8% over the last year, and it is predicted that the rise of the median value would be 0.7% by next year.
Median price listing for every square foot in this city is $152. Prices here are lower when compared to the average prices of houses in the Las Vegas-Henderson-Paradise Metro region, where the average is about $170. Those looking at rentals will find the median prices to be around $1,495 in North Las Vegas, which is lower than the median price in Las Vegas-Paradise Metro and Henderson region; the median is $1,525. If you are planning to invest in homes, either for purchase or to put up for rental, you can also factor in foreclosures. Here about 1.6 homes in every 10,000 are properties that are foreclosed.
The upsides in investing in North Las Vegas outweigh the downsides. The economic growth and tourism market are the biggest appeals for investors. Follow our succeeding articles to discover the reasons to make property investment in North Las Vegas as well as the hottest neighborhoods in the city.
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