North Las Vegas has nearly doubled its housing stock in two decades and is looking to have 400,000 residents by around 2050, according to U.S. Census Bureau data provided by the city.
The municipality has added approximately 40,000 homes since 2005, and Alfredo Melesio, director of land development and community services for North Las Vegas, said the city currently has 290,144 residents and has experienced “tremendous growth” due to a number of reasons.
“For more than a decade, we have consistently looked for ways to improve and streamline our development processes,” he said. “By moving at the speed of business and maintaining direct communication with developers, we’ve capitalized on the region’s strong growth while ensuring thoughtful community development. Our team works closely with builders and developers to provide answers and solutions, making the development process as efficient as possible.”
Back in 2005, the city had 44,882 single-family homes, 3,714 duplexs, 838 mobile homes, 5,949 apartments, 1,025 townhomes and 1,560 condos for a total of 57,968 total dwelling units. Those numbers rose to 73,310 homes, 5,010 duplexs, 771 mobile homes, 12,072 apartments, 3,819 townhomes and 2,217 condos for a total of 97,199 dwelling units at the end of 2024, a 67 percent increase over the past two decades.
Melesio said the city is “still writing its story” and is now focused on sustainable development of its community.
“Right now, we’re focused on transforming neighborhoods and building community spaces that make North Las Vegas a destination where people want to live. Our vision extends beyond new buildings, we want to create vibrant neighborhoods where residents can work, live and gather.”
North Las Vegas was famously on the verge of bankruptcy some 11 years ago, and the city’s annual budget has increased by about 138 percent to roughly $1.03 billion since 2013 and through 2023. The number of active businesses has also grown by 34.5 percent to about 7,242, according to data provided by the city of North Las Vegas.
One of the main key drivers outside of housing has been the city’s growth of its industrial sector as the city has more than 68.3 million square feet of developed industrial land and well over 7.2 million square feet of retail, and the Apex Industrial Park also has more than 24 million square feet of industrial space planned.
North Las Vegas has led the charge for permitting approval times out of all the municipalities and the county for both commercial and residential projects according to a number of real estate stakeholders who spoke to the Las Vegas Review-Journal.
Hidden real estate market?
Lori Galarza, a broker and owner with Re/Max Central in Las Vegas, said North Las Vegas remains a hidden market for many potential buyers in the valley, however that is changing fast.
“It’s considered more affordable than many parts of Las Vegas. A perfect example of this was some recent homebuyers contacted me looking for a larger home with a possible casita for their in-laws,” she said. “They shared areas with me but did not know much about North Las Vegas. When I shared some homes that met their criteria and they were priced lower than their budget, it was a no-brainer.”
Galarza said she expects the community of North Las Vegas to change and take a different shape regarding a specific demographic and one specific type of housing as the valley continues to grow in the coming decades.
“I expect to see continued growth in the area due again to more affordable housing as well as more development in the 55-plus communities which include single-story homes,” she said. “Typically, single-story homes cost more to build than two stories according to appraisers so with land more affordable, we are starting to see more new retirement single-story homes in the area.”
Storage Cafe has North Las Vegas as the 14th fastest-growing city for housing from 2003 through the end of 2023, however the report noted this has also changed the city’s financial landscape.
“Over the past 19 years, North Las Vegas has surpassed its larger neighbor, Las Vegas, in housing growth. While Las Vegas’s housing stock increased by just 19 percent, driven mainly by multifamily developments, North Las Vegas has seen more robust expansion,” read the report. “However, despite this growth in housing inventory, prices have continued to rise, with the median home price now at $411,200, well above the national average.”
Storage Cafe also has North Las Vegas ranked as the 22nd top city to watch in terms of rental activity as it climbed 110 positions from 2024.
“Intense demand in North Las Vegas is reflected in the 12 percent year-over-year decrease in available listings, coupled with an impressive 60 percent increase in online traffic. This made North Las Vegas properties the third most viewed listings among the 150 cities analyzed,” read the report. “Consequently, renters looking for a place to stay in North Las Vegas were more decisive, they favor less listings, while the saved searches remained steady.”
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.