Las Vegas home prices (US$/m²): returns since 2012
Las Vegas home prices, measured as the typical value per square meter (data: Redfin). This is the value of the property itself — bricks and mortar — not an investor's total return.
It excludes rent received and all costs (closing, property taxes, maintenance, vacancy). Compare it against U.S. inflation (CPI) and the S&P 500 below to see whether Las Vegas real estate kept up.
Las Vegas is the economic hub of southern Nevada, a metro built heavily on tourism, gaming, conventions and hospitality, with a service economy more exposed to travel cycles than most large markets. Its housing record is one of the country's most volatile: it was among the very hardest hit in the 2008 crash, recovered slowly, then surged again after 2020 as California buyers and remote workers arrived, before cooling as rates rose. Nevada has no state income tax, and desert land has kept the metro in the mid affordability tier despite its sharp swings.
Cumulative return by window (in U.S. dollars)
| Window | Cumulative |
|---|---|
| 1 year | -2% |
| 5 years | 29% |
| 10 years | 116% |
Largest historical drop: -14% · annual volatility: 6% . Typical home price per m² (Redfin). Excludes rent received, closing costs, property taxes, maintenance and vacancy — the value of the property itself, not the investor's total return.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.