Here’s why we’re very excited about the economic future of Southern Nevada.
According to reports by Applied Analysis, approximately 130 new residents come to Nevada every day to look for jobs, retire, and build families. Our annual population growth rate in 2020 was 2.2%, bringing Southern Nevada’s population to 2.4 million people.
Where are they coming from? 39% are from California, 5.1% are from Florida, and 4.1% are from Texas and Arizona. **Nevada ranks 9th in the country for retirement destinations, dropping slightly from No. 5 in 2020. **
As far as top cities for retirees, Henderson, Nevada is No. 1, Enterprise, Nevada is No. 9, and Spring Valley, Nevada is No. 10.
Nevada also ranks No. 1 for annual growth rate from June 2020 to June 20201. The average across the U.S. was 5.8%, but we saw 12% growth here in Nevada.
“We’re back stronger than ever with over 130 people migrating each day.”
Moving on to development news, there are currently 66 projects lined up totaling a cost of $18.8 billion. Some of these include the Bright Line high speed rail, the Google data center, Gemini solar project, Henderson West, Nevada Museum of Art, and multiple new casinos. The Las Vegas Convention Center and Resorts World is now open, and it’s a beautiful hotel with over 40 dining options.
If there’s one word I can use to describe what’s going on in the Southern Nevada economy, it’s growth. Las Vegas has not missed a beat, and we’re back stronger than ever with 130 more people moving here every day.
If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
