Las Vegas Introduction
Welcome to Fabulous Las Vegas" says the sign at the beginning of the Las Vegas strip. Las Vegas, the self-proclaimed "Entertainment Capital of the World", is the destination of choice for over 35 million people a year. Over 20,000 conventions are held in Las Vegas annually.
More important from a real estate point of view, over 5,000 people move into the Las Vegas valley on a monthly basis.
Housing Styles
To meet the demand of the influx of new residents, construction of new homes is being done on a very large scale. According to the Las Vegas Chamber of Commerce, it is estimated that a new home is completed in Las Vegas every nine hours. Housing options run the range from attractive reasonably prices homes up to multimillion dollar mansions. There are many master-planned communities that are complete with shopping centers, office parks, libraries, recreational facilities, places of worship, and cultural centers.
Notable Las Vegas Neighborhoods
Las Vegas real estate is noteworthy for the large variety of homes. The various planned communities also compete on the basis of amenities, location, and prices - which can make for an interesting and fun home shopping experience. Some notable areas of Las Vegas include:
Las Vegas Real Estate Prices
Over half of Las Vegas housing units consist of single family, owner-occupied homes. According to the National Association of Realtors, the median price of a house in Las Vegas was close to $320,000 as of the 3rd quarter of 2006, well above the national average of $225,000. For that same period, the median price of a condominium was $205,000, below the national average of $223,000.
Las Vegas Schools
Las Vegas is served by the Clark County School District, which is the fifth largest school district in the United States. The Clark County District serves more than 280,000 students in over 300 schools, 83 of which are actually in the City of Las Vegas (59 elementary schools, 16 middle schools, and 8 high schools).
There are many colleges and universities located in and around Las Vegas, including the University of Nevada (UNLV) located in nearby Paradise, the University of Nevada Medical School, branches of several national colleges such as the University of Phoenix, Nevada State College and Touro University Nevada both in nearby Henderson, and campuses of the Community College of Southern Nevada.
Las Vegas Economy
The engine of the Las Vegas economy is tourism, gaming, and conventions. This, in turn, supports the dining and retail industries. The major categories of the private-sector economy from an employment standpoint are the hotel/gaming/resort industry, construction, business services, and education/health services. The largest private sector employers in Las Vegas are all major hotel/resort casinos. They also happen to be the largest employers in the State of Nevada. Las Vegas' five Fortune 1000 companies are also in the resort/gaming industry.
The Las Vegas economy is noteworthy for consistently having the highest new job growth in United States. For over a decade Las Vegas has also ranked very highly for high-tech job growth.
The median family income in Las Vegas is almost $53,000 (as of 2004 according to US Census data), which is just slightly under the national average.
| Location | Pop. | Median Family Income (2000) |
|---|---|---|
| Las Vegas | 478,434 | $50,465 |
| Boulder City | 14,966 | $60,641 |
| Henderson | 175,381 | $61,176 |
| North Las Vegas | 115,488 | $46,540 |
| Credit Union | Year Opened | Q1-2 2006 Mortgages | Phone |
|---|---|---|---|
| CLARK COUNTY CREDIT UNION | 615 | (702) 939-3143 | |
| COMMUNITY ONE FEDERAL CREDIT UNION | 1960 | 121 | (702) 968-1100 |
| CUMORAH CREDIT UNION | 87 | (702) 735-2181 | |
| IBEW PLUS CREDIT UNION | 1952 | 33 | (702) 871-5041 |
| LAS VEGAS UP EMPLOYEES FEDERAL CREDIT UNION | 1952 | (702) 382-9688 | |
| NEVADA FEDERAL CREDIT UNION | 1950 | 1066 | (702) 948-5392 |
| S W G FEDERAL CREDIT UNION | 1960 | (702) 876-7229 | |
| SILVER STATE SCHOOLS FAMILY CREDIT UNION | 1951 | 783 | (702) 733-8820 |
| SONEPCO FEDERAL CREDIT UNION | 1955 | 138 | (702) 871-0977 |
| STAGE EMPLOYEES FEDERAL CREDIT UNION | 1964 | 21 | (702) 873-3675 |
| WESTSTAR CREDIT UNION | 1975 | 123 | (702) 791-4777 |
| * Disclaimer: List is not guaranteed to be complete or accurate. |
| Credit Counselor Name | Phone |
|---|---|
| COMMUNITY DEVELOPMENT PROGRAMS CENTER OF NEVADA | 702-873-8882 |
| CONSUMER CREDIT COUNSELING SERVICE OF SOUTHERN NEVADA | 702-364-0344 |
| EAST LAS VEGAS CDC | 702-307-1710 |
| ECONOMIC OPPORTUNITY BOARD OF CLARK COUNTY | 702-647-7816-233 |
| HOUSING FOR NEVADA | 702-270-0300 |
| NID- HCA BOWIE | 702-731-1110 |
| WOMEN'S DEVELOPMENT CENTER | 702-796-7770 |
| * Disclaimer: List is not guaranteed to be complete or accurate. |
| Name | Type | Assets (Millions) | Local Branches |
|---|---|---|---|
| Armed Forces Bank, National Association | Commercial Lending | 591 | 2 |
| Bank of America, National Association | All Other > $1 Billion | 1,047,537 | 36 |
| Bank of Commerce | Commercial Lending | 153 | 2 |
| Bank of Las Vegas | Commercial Lending | 54 | 1 |
| Bank of Nevada | Commercial Lending | 261 | 1 |
| Bank of the West | All Other > $1 Billion | 41,903 | 5 |
| BankWest of Nevada | Commercial Lending | 1,727 | 3 |
| Beal Savings Bank | Commercial Lending | 2,667 | 1 |
| Business Bank of Nevada | Commercial Lending | 399 | 3 |
| Citibank (Nevada), National Association | Credit-Card | 17,555 | 1 |
| Citibank (West), FSB | Mortgage Lending | 109,887 | 9 |
| Colonial Bank, National Association | Commercial Lending | 20,968 | 5 |
| Community Bank of Nevada | Commercial Lending | 632 | 4 |
| Desert Community Bank | Commercial Lending | 77 | 1 |
| First National Bank of Marin | Other < $1 Billion | 122 | 1 |
| First National Bank of Nevada | Commercial Lending | 1,324 | 5 |
| First Republic Bank | Mortgage Lending | 8,458 | 1 |
| First Savings Bank | Commercial Lending | 412 | 1 |
| HSBC Bank Nevada, National Association | All Other > $1 Billion | 2,035 | 1 |
| Irwin Union Bank and Trust Company | Commercial Lending | 5,704 | 1 |
| M & I Bank FSB | Mortgage Lending | 1,343 | 1 |
| Nevada Commerce Bank | Commercial Lending | 133 | 1 |
| Nevada First Bank | Commercial Lending | 413 | 4 |
| Nevada State Bank | Commercial Lending | 3,649 | 36 |
| Northern Trust Bank, Federal Savings Bank | Mortgage Lending | 630 | 1 |
| Red Rock Community Bank | Commercial Lending | 110 | 1 |
| Security State Savings Bank | Mortgage Lending | 145 | 1 |
| Silver State Bank | Commercial Lending | 726 | 4 |
| SouthwestUSA Bank | Commercial Lending | 125 | 1 |
| Sun West Bank | Commercial Lending | 318 | 3 |
| Town & Country Bank | Commercial Lending | 141 | 2 |
| U.S. Bank National Association | Commercial Lending | 203,477 | 27 |
| USAA Savings Bank | Credit-Card | 7,567 | 1 |
| Valley Bank | Commercial Lending | 333 | 1 |
| Washington Federal Savings and Loan Association | Mortgage Lending | 7,900 | 2 |
| Washington Mutual Bank | Mortgage Lending | 310,278 | 25 |
| Wells Fargo Bank, National Association | All Other > $1 Billion | 364,120 | 51 |
| Wells Fargo Financial National Bank | Credit-Card | 1,083 | 1 |
| World Savings Bank, FSB | Mortgage Lending | 117,048 | 1 |
| * Disclaimer: List is not guaranteed to be complete or accurate. |
| Category | Value |
|---|---|
| Homes With No Mortgage | 18% |
| With A Mortgage | 82% |
| First Mortgage Only | 64% |
| Second Mortgage or Home Equity Loan | 18% |
| Second Mortgage Only | 12% |
| Home Equity Loan Only | 6% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 21.5% |
| Median Real Estate Taxes (2000) | $1,200 |
| Category | Value |
|---|---|
| Total Occupied | 176,848 |
| 1-Person Households | 25% |
| 2-Person Households | 34% |
| 3-Person Households | 16% |
| 4-Person Households | 13% |
| 5-Person Households | 7% |
| 6-Person Households | 3% |
| 7+-Person Households | 3% |
| Category | Value |
|---|---|
| Median Year Built | 1989 |
| Median Year Built (Owner Occupied) | 1991 |
| Median Year Built (Renter Occupied) | 1985 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 71% |
| Using Bottled/Tank Gas Heat | 1% |
| Using Electric Heat | 29% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 0% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 0% |
| Category | Value |
|---|---|
| No Bedrooms | 1% |
| 1 Bedroom | 3% |
| 2 Bedrooms | 23% |
| 3 Bedrooms | 46% |
| 4 Bedrooms | 22% |
| 5+ Bedrooms | 5% |
![]() | Las Vegas Careers Las Vegas career and employment information. |
![]() | Las Vegas Colleges Las Vegas colleges and trade schools. |
![]() | Las Vegas Hotels & Travel Las Vegas hotels, landmarks, tourism, transportation. |
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