The Las Vegas real estate market is pretty hot right now, and there are a lot of options for investors who are looking for great rental homes. You can choose new construction condos in gated communities, single-family homes in the city and suburbs, and established neighborhoods with a diverse mix of homes and residents.
Our team works with new and experienced real estate investors all the time, and a growing number of out-of-state investors who rely on our insight into the local Las Vegas rental market. Whether you’re looking to buy your first property or you’re building a large portfolio of real estate, we think single-family homes are the best way to invest in our market.
Today, we’re telling you why.
Las Vegas Investments Increase in Value
Single-family homes have always appreciated in value faster than multi-family units, especially in Las Vegas.
Las Vegas is really more of an appreciation market for investors. There has been a dramatic increase in population growth, thanks to with more and more people moving in from California. We expect that appreciation is going to continue increasing over the next several years. This is where the biggest money is for investors interested in the opportunities provided by the Las Vegas rental market.
Single-Family Inventory in Las Vegas
Across the country, inventory is low and demand is high, especially for single-family homes. In our market, there’s also a slipping inventory, but not to the extent of other regions. You have to act quickly, however. As markets completely dry up along the east coast and Midwest, investors will turn their attention to Las Vegas, and there won’t be much left in terms of single-family rental homes. Buy now, and be prepared to make a strong offer.
Home values are rising as inventory declines, which is another good reason to act quickly. You want to buy now, while you can still get a price that’s affordable on a Las Vegas rental property that’s going to appreciate in value.
As an investor, you can find single-family homes in a number of diverse and unique neighborhoods around the region. Whether you want something close to downtown Las Vegas or in popular outlying areas, you’ll find there are options and opportunities.
Attracting Long Term Las Vegas Tenants
One of the main benefits of investing in single-family homes is that you tend to attract higher quality tenants. People who want to move into a single-family home are likely to be more stable and reliable, with higher incomes. They want to settle in for a while and probably won’t move as soon as the lease term ends.
With demographics changing and a new generation of tenants shifting from home ownership trends to a preference for renting, a single-family home will give you the opportunity to find a tenant who is likely to pay rent on time, take care of your home, and stay in place for several years. You may also attract a lot of active adults on the verge of retirement who want the privacy and space of a single-family home without all the maintenance that’s required in buying one.
Single-Family Las Vegas Homes Earn Higher Rents
There’s also the attractive rental values.
Typically, you will earn more rent on a single-family home than you will on an apartment, condo, or multi-family unit. People are willing to pay for the extra privacy and space. The outdoor space, garage parking, and extra square footage will translate into a higher rental prices and more cash flow for you.
We’d be happy to talk further about how you can benefit from investing in single-family homes in Las Vegas. Contact us at Strawberry Realty – Property Management to discuss your investment goals.