The Best Neighborhoods in Las Vegas to Buy and Invest in Real Estate
ATTOM Data Solutions just released its 2018 Neighborhood Housing Index, which compares over 10,000 housing markets nationwide to determine which ones are prime for investment. The company ranked markets based on six factors: affordability, school scores, unemployment rates, property taxes, home price appreciation, and crime rates.
Overall, Las Vegas did well on the list having 41 neighborhoods that got A or B ratings. Most of the neighborhoods that got A ratings were in Henderson or the southwest part of the city. Based on this ranking, these Vegas neighborhoods are ones to watch.
The Lakes is an upscale neighborhood west of The Strip, off Sahara Avenue and Fort Apache Road. Although the area only spans two-square miles, it’s filled with condos, single-family homes, walking trails, impressive estates, businesses, and Lake Sahara.
According to ATTOM’s data, buying property in The Lakes is a solid investment for many different reasons. The median home price in the area is near the mid $300s. For those looking to sell in the future, the average return on investment (ROI) is 26 percent, and the average home flipping profit is roughly $55,000. The median household income of residents in The Lakes is just over $55,000, and the school score is a 2.77 out of 5.
Situated in the southwest part of the city off Blue Diamond Road is the Mountain’s Edge master-planned community. The neighborhood has six schools, a church, multiple parks, and plentiful options for dining and entertainment. Mountain’s Edge is an excellent option for anyone wishing to live in a quiet community away from the busy city center.
ATTOM gives Mountain’s Edge an A because of its median home price at just under $300,000, the average household income of around $75,000, the average flipping profit is over $10,000, and the ROI for homes at about 3.4 percent.
The vast Spring Valley neighborhood is just east of The Strip, and it’s a Las Vegas neighborhood where people of many professions, lifestyles, and income ranges are able to live. The area is home to everything from condos and studio apartments, to massive estates and houses with acres of land. It’s also home to the Chinatown district, which has some of the best cuisine in the city.
Bella Vita is a condo community in Spring Valley that has a median home price in the low $100s. ATTOM lists the ROI for these condos at 46.7 percent, and the flipping profit sits at around $70,000. One significant aspect of this neighborhood is that the household income is under $30,000, which is favorable for first-time buyers and recent grads.
Not only did Anthemmake the list of best places to buy real estate, but separately so did its active-adult communities Sun City Anthem and Solera at Anthem. The upscale Anthem neighborhood is located southeast in Henderson, near The M Resort, Sloan Canyon National Conservation Area, and the new soon-to-be Raiders practice facility.
Anthem has a median home price in the high $500s, a 7.4 percent ROI, and a $24,000 flipping profit. The average household income is currently under just $100,000. Also, the average school score is 4.5, much higher than most neighborhoods in the entire Vegas valley.
Northwest of Las Vegas within the Centennial Hills region is the Elkhorn Springs neighborhood. The area mostly has mid-sized homes, but there are also options for those looking for condos, townhomes, and even lofts. Minutes from Elkhorn there are a variety of schools, strip-malls, locals casinos, and large neighborhood parks.
According to ATTOM, the average ROI is 6.5 percent, the average flipping profit is just over $16,000, and the median home price is in the mid $200s. For those interested in the area, the median household income is under $65,000, and the school score is 3.33 out of 5.