Las Vegas real estate vs inflation: did it beat the dollar?
238% × 46%
Updated June 1, 2026 · Redfin · BLS / FRED (CPIAUCNS)
Since 2013, Las Vegas real estate is up 238% while U.S. consumer prices rose 46%. Las Vegas real estate far outpaced inflation — but the ride was brutal: its worst drop was 14%. Figures in U.S. dollars.
Base 100 since 2013
Why compare Las Vegas home prices (US$/m²) and U.S. inflation (CPI-U)
Las Vegas is the economic hub of southern Nevada, a metro built heavily on tourism, gaming, conventions and hospitality, with a service economy more exposed to travel cycles than most large markets. Its housing record is one of the country's most volatile: it was among the very hardest hit in the 2008 crash, recovered slowly, then surged again after 2020 as California buyers and remote workers arrived, before cooling as rates rose. Nevada has no state income tax, and desert land has kept the metro in the mid affordability tier despite its sharp swings.
Returns by window
| Window | Las Vegas home prices (US$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | -2% | 4% |
| 5 years | 29% | 24% |
| 10 years | 116% | 39% |
| since 2013 | 238% | 46% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Las Vegas real estate | 6% | -14% |
| Inflation (CPI) | 1% | -2% |
$10,000 in each, since 2013
| Asset | Value today |
|---|---|
| Las Vegas real estate | $33,845 |
| Inflation (CPI) | $14,553 |
Frequently asked questions
Did Las Vegas real estate beat inflation?
Over the period, Las Vegas real estate returned 238% while U.S. consumer prices rose 46%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
Keep exploring
Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.