How much money do Summerlin residents make?
The median household income in the master-planned community of Summerlin is well above the Las Vegas Valley’s average, according to new data from Applied Analysis.
The Las Vegas-based research firm’s statistics show the median household income in Summerlin is $100,579, compared to $68,275 in the valley. Approximately 6.3 percent of Summerlin residents make $500,000 or more, which is higher than the valley’s average at 1.7 percent.
About 77 percent of Summerlin’s population has “white collar” jobs compared with 55 percent for the entire Las Vegas Valley, and the majority of those workers (67 percent) are employed at private for-profit companies. The three biggest fields in terms of Summerlin residents are management (16 percent), followed by health care practitioner/technician (10.5 percent) and business/financial operations (8.1 percent).
Brian Gordon, a principle with Applied Analysis, said more affluent families are now seeking out master-planned communities like Summerlin due to a wide range of amenities, development patterns and overall community feel.
“With about a third of Summerlin’s residents holding a bachelor’s degree or higher, educational attainment reaches more than two times the broader Southern Nevada market,” he said. “The profile of Summerlin residents and local housing dynamics have also resulted in higher overall incomes, which stands at about one-and-a-half times the Las Vegas area. Supporting the premium income levels in Summerlin is a strong presence of professions in management, health care, business, finance, legal and other professional roles.”
Summerlin also has a higher rate of residents with bachelor’s degrees or higher education (30.4 percent) compared with the valley (12.6 percent). The community also has a higher population of residents who are not currently in the labor force (42.4 percent compared with the valley (36.3 percent).
According to data from commercial real estate brokerage Colliers — which includes The Lakes with Summerlin in the same submarket — the southwest Las Vegas Valley now has the highest median household income in the valley.
The company’s first-quarter apartment market report shows the median annual household income in the southwest valley was $88,423, surpassing Henderson, where the median income was $86,682. In the first quarter of 2023 those figures were $90,531 in the southwest and $92,356 in Henderson.
Contact Patrick Blennerhassett at pblennerhassett@reivewjournal.com.