Homes for Sale in Las Vegas, NV: What You Need to Know
Las Vegas, located in southern Nevada, has come to symbolize fun, entertainment, and freedom. As the city’s popular slogan says, “What happens in Vegas stays in Vegas.”
Las Vegas’ Local History
Members of the Native American Paiute tribe originally lived in the area. In 1821, Rafael Rivera scouted the area as part of an expedition meant to open a trade route between New Mexico and California. Rivera called the valley Las Vegas for its meadows. The city was incorporated in 1911.
The Las Vegas Strip dates back to the opening of the El Rancho Vegas resort in 1941. Bugsy Siegel, a famous gangster, opened the Flamingo resort in 1946. Although he was killed a year later, his vision for the city’s entertainment industry continued with the development of more casinos supported by mobsters’ money.
Las Vegas Real Estate: The Cost of Living
A move to Las Vegas doesn’t have to be a gamble because the city’s cost of living and food cost are 1.9% and 7.5% lower than the national average respectively. However, the transportation cost is 5.3% higher than the national average. On the bright side, Nevada has no state income tax and its property taxes are relatively low. Las Vegas is the seat of Clark County, which has an average effective property tax rate of 0.80%.
Know Your Neighborhoods
Urbanites will love the high-rise housing in downtown Las Vegas, including condos, loft-style studios, and penthouse apartments in fashionable buildings such as The Juhl, The Ogden, and Soho Lofts. The Lakes, located within the city limits, is a posh neighborhood with many fine shops and restaurants.
People who prefer the suburbs will love Summerlin North for its hiking and biking trails and neighborhood parks. Centennial Hills, home to Centennial Hills Hospital, is attracting many newcomers for its affordable single-family homes, townhouses, and condos.
Things to Do Around Las Vegas
Tourists from around the world visit Las Vegas primarily for its casino resorts located along the Strip. Among the most iconic resorts are: The Bellagio, which includes an art gallery and botanical gardens; The Venetian Hotel, complete with canals and gondoliers; and Paris Las Vegas Hotel, which features a scale model of the Eiffel Tower.
Just outside the Strip, you’ll find the Linq Promenade where the High Roller, a 550-foot-tall Ferris wheel, is located. It provides an incredible bird’s-eye view of the city. Las Vegas is also a great starting point for a trip to the Grand Canyon.
A Strong Job Market
It’s no surprise that the hospitality and gaming industry is a major employer in the city known as the Entertainment Capital of the World. The industry employs 96,037 people and generates a revenue of $19 billion annually.
Las Vegas is also building a reputation as an innovation center. The e-commerce retailer Zappos.com is based downtown. It employs more than 1,500 people and generates annual sales of more than $2 billion. It helped attract tech companies and start-ups to the area. Every year, innovators flock to the city, which hosts two major technology trade shows – the Consumer Electronics Show (CES) and Specialty Equipment Market Association (SEMA) Show.