Las Vegas’s Zillow ZHVI typical home value is $425,535, while ZORI typical observed market rent is $1,722 monthly. Their implied gross yield is 4.9%, calculated before property tax, insurance, maintenance, management, vacancy, financing and capital work. The ZHVI equals 5.8x ACS median household income, and annual ZORI equals 28.0% of that income, indicating a demanding purchase basis and limited room to infer tenant affordability from a citywide typical rent alone.
The city has 267,654 housing units; 43.4% of occupied units are renter-occupied, and the citywide vacancy rate is 7.4%. Those figures frame scale and tenure, not leasing odds for a specific address. ACS surveyed occupied housing reports a $427,900 median owner-reported home value and $1,563 median gross rent, including selected utilities. Those ACS measures differ in definition and period from Zillow’s typical value and observed market rent, so they should not be averaged or treated as direct comps.
City depth shows 58.6% of renter households are rent-burdened. Single-family homes represent 67.7% of all units and units in large multifamily structures represent 10.1%; among vacant units, 28.4% are classified for rent, but these survey shares do not measure investable or currently available inventory. The ACS population estimate is 660,400, up 4.0% between overlapping vintages; boundary changes could affect the comparison. Median household income is $73,877, while poverty is 14.0% and unemployment is 7.4%. These are descriptive demand constraints, not causes or property-level tenant performance evidence.
Clark County’s contextual property-tax rate is 0.48%, and Clark County listings had a median 55 days on market; neither is a city or parcel result. The broader Las Vegas, NV metro recorded 1.9% job growth, 4 months of supply and a 28.3% price-drop share, providing labor and resale context rather than city-specific performance. The national Freddie Mac mortgage benchmark was 6.6%, a financing reference rather than a Las Vegas borrowing quote.
The main limitations are that city averages cannot establish an individual property’s rent, condition, expenses, tenant demand or resale liquidity. Property-level checks should cover purchase price, current rent comps, concessions, lease terms, occupancy, unit condition, repairs, title, zoning, permits, HOA and rental rules, taxes, insurance and hazard exposure. Underwriting should model vacancy, management, maintenance, turnover, utilities, capital reserves and financing rather than treating gross yield or survey vacancy as net return or lease-up evidence.