Southwest Valley Is Where the Highest-Earning Vegas Residents Live, Report Says
LAS VEGAS, NV – According to a new report released by investment management company Colliers, the southwest valley is home to Las Vegas residents earning the highest median household income within the region.
As per its apartment market report for the first quarter of 2024, Colliers notes that the southwest valley’s median income was $86,682, with that number surpassing the median income in Henderson – the previous number one in that category – which was $86,682. In contrast, in the first quarter of 2023, Henderson’s median income was $92,356, whereas that number was $90,531 in the southwest valley.
Colliers International’s Executive Vice President for Multifamily Investment Sales, Jeffrey Swinger, said in the report that the southwestern valley – which is made up mainly by the up-and-coming township of Enterprise – is at the moment very clearly attracting workers and families in higher income brackets who are purchasing homes in the region, although it remains to be seen if this will remain to be the case going forward.
It’s kind of a hodgepodge to be honest. 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,” Swinger said. “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 is quickly becoming one of the fastest growing areas in the entire nation, with a plethora of residential and commercial development currently underway. Reports indicate that the unincorporated township is growing at double the rate as the rest of the Las Vegas Valley, expanding by 60 percent between the years of 2010 and 2023 – as opposed to 20 percent for the rest of the valley – and boasted 245,243 residents by the end of 2023.
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