When you’re a first-time homebuyer, affordability is a factor that can’t be ignored. Buying a home is a major investment that comes with a lot of responsibilities, but the Las Vegas market is creating new challenges for homebuyers. Per a report in the Las Vegas Sun, the number of available single-family homes, townhomes, and condos is lower than it’s been in five years. According to the report, approximately 800 single-family homes and 900 condos under $250,000 are available, which is alarming when the population of the Valley has grown by 100,000 residents since 2016, and home values are at their highest since 2008. It may be a more seasonal market, with home sales dropping off mid-summer, but Las Vegas is still a hot market because more people are staying in the Valley long-term. 

“The seasonality also shows Las Vegas isn’t as transient as it used to be,” Forrest Barbee, an Equity Title of Nevada broker and researcher, told the Las Vegas Sun. “More people are being born and raised here, going to school and looking for jobs here. It’s not just people dropping in for a few years to work at a casino, make some money and leave.”

These days, there are fewer short sales, auctions, and foreclosures, and Las Vegas’ status as a seller’s market gives people selling their home new justification to charge higher prices for homes that would have previously been valued at lower prices. Still, there are ways for homebuyers to thrive in a seller’s market by getting pre-approved for a loan before making an offer on a home, staying within a budget that’s less than 36 percent of their total income, and living in areas that offer lower homeowner association fees that won’t take up even more of your fixed budget.

The Las Vegas Sun article also suggests finding an agent who knows the area you want to live in. But where, exactly, can you find the best deal on a home in Las Vegas? Here are the neighborhoods in the Valley where you can find a great deal.

Typical homes in Las Vegas

North Las Vegas

Because North Las Vegas is a separate city from Las Vegas, it’s much easier to find a great deal on a home. Not only is it a neighborhood booming with new construction and master-planned communities like Valley Vista, but right now there are nearly 200 single-family homes, townhomes, and condos available in the area under $250,000. Along with existing home listings, master-planned communities like Summit Knoll by Richmond American Homes offer homes in the mid $200s with three to four bedrooms and easy access to the I-215 and I-15. 

Centennial Hills

The median sale price in Centennial Hills may be in the $260s, but there are more than a few homes that are well below this price point. The area near Summerlin Parkway and I-95 offers several homes in the $100,000 to $250,000 range, including both single-family homes and townhomes. 

Sunrise Manor

Because it’s nearby Nellis Air Force Base, Sunrise Manor is a solid choice for military families. The median price in this neighborhood is $195,000, making it one of the most affordable neighborhoods in the Valley with new construction cropping up all over the neighborhood. Developments like Solana Terrace offer buyers homes priced in the high $100s with floorplans ranging from 1,129 to 1,715 square feet.