Cap Rate in Las Vegas, NV

2026 Market Overview for Real Estate Investors

Avg Cap Rate

4.8%

#41 of 50 markets

Median Home Price

$380,000

Purchase price

Median Monthly Rent

$1,600

$19,200/yr gross

Rent-to-Price Ratio

0.42%

Below 1% rule

Cap Rate Rating

Moderate

Typical for stable markets with moderate growth potential. Balanced risk-return profile.

Market Snapshot

Population	660,929
5-Year Population Growth	+9.5%
Median Household Income	$58,000
Vacancy Rate	6.5%
Property Tax Rate	0.60%($2,280/yr)

Investor Takeaway

Las Vegas offers no state income tax and low property taxes, boosting effective returns. The economy has diversified beyond gaming into tech and sports, but tourism sensitivity remains a risk.

Quick Math

Estimated annual numbers for a median-priced property in Las Vegas, NV before financing:

Annual Gross Rent$19,200

Less Vacancy (6.5%)($1,248)

Less Property Tax (0.60%)($2,280)

Less Est. Insurance + Maintenance($7,600)

Estimated NOI$8,072

Implied Cap Rate2.1%

Estimates based on median values. Insurance + maintenance estimated at 2% of home value. Actual results vary by property condition, neighborhood, and management.