Las Vegas isn’t on the most recent list of USA Today’s 25 Most Affordable Cities.
And we’re just fine with that.
We all want to pay less for something. Heck, for everything.
However, when it comes to homes for sale, you don’t want to be “too cheap.”
When it comes to real estate in Las Vegas, we’re all in this together. Housing markets represent a city’s overall social and economic health; they signal the desirability to be somewhere.
Las Vegas has so much more going for it than even our current average home price suggests, which makes our home value better than what even the analysts realize.
Many of the markets on the “aforementioned list” are in areas that we’re sure our friendly, family-centered places to live. Many people are quite happy in those markets.
What Las Vegas offers beyond the list is too much to measure, but we can start with lifestyle. The options are endless.
You can live in a condo, buy a townhome, and escape suburbia in communities like Blue Diamond, Calico Basin or Boulder City. There are gated luxury communities, high-end apartments, and older, well-maintained downtown bungalows.
Whatever living option you choose, the surrounding amenities will be there to keep you busy.
We like to think of Las Vegas as a city with options. Living options. Dining options. Education options. The choices are yours, and we’re to help you with them.
And while we would very much like to see as many people as possible achieve the dream of home ownership, we know that’s easier written here than done.
The truth is, some people prefer to rent.
For that ilk, the Las Vegas rental market is as equally diverse as its housing market. All price points, any amenity level.
Over the years since the recession, Las Vegas community leaders have been driven to protect its residents by creating a wide array of living alternatives.
Before 2009, we focused too heavily on housing. Giant neighborhoods arose from the Mojave faster than the rabbits could scurry from the blackbush. The result was a major over-dependence on the income from housing. It compounded our losses tremendously.
Apartments are not as quickly affected by economic downslides. In short, there isn’t as much personal wealth tied to a lease as there is a mortgage.
Today, the Las Vegas market is healthier, and better prepared for the next economic uncertainty.
So no, we’re not on another list of the most affordable places to live in America.
And we don’t want to be.