According to Pew Research,  millennials are on their way to surpassing baby boomers and becoming the nation’s largest living adult generation, which will make millennials the target demographic for sellers and real estate agents. According to this article, millennials make up about 66 percent of first-time homebuyers and over 66 percent plan on buying a new home within the next five years. This means many neighborhoods are growing spurred by millennials with massive buying power in today’s real estate market, and developers are catering to what these homebuyers want.

Paradise and Downtown Las Vegas are two neighborhoods in Las Vegas that have evolved and now embrace this young generation of potential homeowners. Whether you’re just moving to the city or you live here and wish to explore new options, it’s good to know which neighborhood is ideal for you.

Vibes and Prices 

Typical Las Vegas home

Paradise:

Centrally located east of The Strip, Paradise is ranked #79 in Nevada for livability. The area is spread out with bountiful amenities and a pleasant diversity. The Strip, McCarran Airport, and UNLV are all part of Paradise.

No matter what a person is looking for in a neighborhood, it’s a good chance that Paradise has it. There’s everything from modest single-family homes and townhomes to immaculate condos in and around The Strip. The median sale price in this area is the mid $200s, but homes start in the low $100s and go up to $5 million. Paradise also has a younger population with a median age of 36, which is lower than Downtown.

Typical Las Vegas home

Downtown:

North of The Strip is Downtown Las Vegas, the historical epicenter of the city. Rich in culture and attractions, this neighborhood is known for being quirky and out of the ordinary. The neighborhood is ranked higher in the livability category than Paradise due to its abundant amenities and low cost of living. Although this neighborhood offers more amenities than Paradise, the population here is a bit older with a median age of 46.

Downtown is known for having older houses, one-of-a-kind homes, and even a tiny house community. The neighborhood has also seen recent increases of high-rise condos that offer numerous on-site amenities like concierge services, rooftop pools, fitness centers, social lounges, and outdoor recreational areas. The median sale price in this area is in the low $200s with properties priced from the low $100s to upwards of $1.3 million. 

Walkability and Transportation Options

RTC Las Vegas photo courtesy of Mariordo (Mario Roberto Duran Ortiz)

Paradise:

Overall, life is more comfortable in Paradise with a car because the area is so large, making it difficult to do daily errands on foot. Although the area is not very walkable, it’s centrally located, which makes it easy for residents to get to other neighborhoods for work, play, or errands. It’s also easy to do without ever having to jump on a freeway by just taking the local streets to get around town. But for those who live in the area and need access to the freeway, they can take the 15 or the 215. Paradise also has public transit like the RTC as another transportation option.

Family enjoying their walk down Fremont Street

Downtown:

According to New American Funding, 50 percent of millennials want to live within walking distance to amenities like shops and restaurants. This makes Downtown an ideal choice as this area is very walkable. Residents can walk down Fremont Street where they’ll find hotels, bars, restaurants, casinos, and entertainment options. Downtown is also bike-friendly, which allows locals to avoid the occasional downtown traffic. For those who need to access other parts of town, the 95 and 15 freeways are close by. The area also has the Downtown Loop, a free shuttle service that makes getting around easy. 

Dining and Nightlife

Aerial view of The Strip

Paradise:

USA Today explains that millennials are fans of dining out, which is perfect for anyone who chooses to live in Paradise. Paradise is just minutes away from any residential area near The Strip, which is undoubtedly the best place to be for any and all dining needs. The neighborhood also has an abundance of chain and local restaurants scattered throughout its own borders. Near UNLV along Maryland Boulevard, there are also ample options for food.

For nightlife, there are a large variety college bars, dive bars, and LGBT establishments. The Strip also has plenty of lounges, clubs, bars, concerts, and sporting events where locals and tourists gather for lively entertainment.

Fremont East District photo by Shutterstock

Downtown:

Surprisingly, millennials don’t go clubbing anymore and, according to an article in The Guardian, they have “fallen out of love with nightclubs.” For this generation, bars and pubs are cheaper, more relaxed and personal, and have better music. This can make living Downtown Las Vegas an ideal choice for those who prefer low-key nights. Downtown is known to have a wide variety of hip bars and lounges along Fremont East District and over at the Arts District. The proximity of the bars also make it easier to bar hop on foot. Other nightlife options in the area include attending the various festivals that come to the city, seeing a live band, and socializing on Fremont Street.

The dining choices in this neighborhood are just as eclectic as the nightlife. There are various vegan and vegetarian restaurants, unique burger spots, and trendy cocktail lounges as well as late-night bites, and specialty coffee shops.

Verdict

When it comes to choosing between Paradise and Downtown, the decision is up to the individual. Both are millennial-worthy neighborhoods with favorable amenities as well as a wide range of housing options for all budgets. As with any big decision, a potential buyer should determine which location is better for their families, interests, and lifestyles.