Where do the richest people in Las Vegas live?
The southwest Las Vegas Valley now has the highest median household income in the valley, according to a new report from Colliers.
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.
Jeffrey Swinger, an executive vice president for multifamily investment sales with Colliers International, said it’s still too soon to tell who or what type of community the unincorporated township of Enterprise and the entire southwestern valley will look like, but it’s clear the area is attracting high-income workers.
“It’s kind of a hodgepodge to be honest,” he said. “It’s not a master plan, so it’s kind of a free-for-all, and over the past few years it’s become very attractive because it has the land. Places like Green Valley and such, they’re all built out now. Summerlin is kind of a different animal, and then if you look at the Beltway and (the southwest valley’s) proximity to the Strip and the jobs, that’s why all the development has taken off there.”
Enterprise, which encompasses the majority of the southwestern valley, is one of the fastest-growing areas in the entire country, adding a mix of commercial and residential projects to its community and keying on undeveloped land within Clark County but outside of the jurisdictional boundaries of the cities of Las Vegas, North Las Vegas and Henderson.
According to population figures from the GIS mapping software company Esri, Enterprise is growing more than twice as fast as the valley as a whole. The unincorporated township grew almost 60 percent (compared to 20 percent for the valley) from 2010 to 2023 and had 245,243 residents as of the end of 2023. It is expected to add another 13,713 residents by 2028.
Coming in third behind the southwest and Henderson is Summerlin/The Lakes, with a median household income of $78,395, followed by the northwest valley with $77,352.
The submarkets with the most total households were the northwest (125,400), the southwest (103,800) and Summerlin/The Lakes (101,100). The submarket with the highest percentage of renters was the University/The Strip (79 percent), followed by the central valley (68 percent) and west Las Vegas (61 percent).
The submarkets with the largest households was Sunrise Manor/Northeast, with an average of 3.2 people living in each home, followed by North Las Vegas (3.1) and the northwest and southwest (2.7 for both).
A recent SmartAsset report found that, in order to “live in sustainable comfort” in Las Vegas, a single adult would need to make $94,432 annually or $45.40 per hour.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.