Paradise, Las Vegas, NV—89118
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paradise, Las Vegas, NV
As of Oct '25, the median home price in Paradise, Las Vegas, NV is $335,000, with a year-over-year change of -1.7%. This indicates that home prices in Paradise, Las Vegas, NV are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $335,000 | -1.7% |
| Single Family | $463,000 | -1.9% |
| Condos | $223,000 | -5.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $182,000 | -5.2% |
2 Bed | $253,000 | -3.1% |
3 Bed | $378,000 | -3.1% |
4 Bed | $559,000 | -1.9% |
| 5 Bed | $689,000 | -0.6% |
% of Housing Stock
Rental Trends — Paradise, Las Vegas, NV
As of July '25, Rentcast reports the average rent in Paradise, Las Vegas, NV is $2,000, with a year-over-year rent change of 7.5%. Per bedroom, the median rent as of July '25 in Paradise, Las Vegas, NV is studios: $1,650, 1-bedrooms: $1,240, 2-bedrooms: $1,670, 3-bedrooms: $2,200, 4-bedrooms: $3,290. The most common rental property sizes in Paradise, Las Vegas, NV are 2-bedroom and 1-bedroom, accounting for 46.2% and 25.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $2,000 |
| Studio Rent | $1,650 | $1,650 |
| 1 Bed Rent | $1,200 | $1,240 |
| 2 Bed Rent | $1,600 | $1,670 |
| 3 Bed Rent | $1,860 | $2,200 |
| 4 Bed Rent | $2,550 | $3,290 |
% of Rental Stock
Property Listings — Paradise, Las Vegas, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Paradise, Las Vegas, NV is 59. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | -15.0% |
Listing Count | 151 | 36.0% |
| Listings as % of Homes | 1.1% | 36.0% |
Days on Market | 59 | 28.0% |
Demographics — Paradise, Las Vegas, NV
As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV has a population of 23,300, which has increased by 5.4% over the past 5 years. Paradise, Las Vegas, NV is a moderately popular place for families, as children make up 16.7% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | 5.4% |
% Under 18 | 16.7% | -4.0% |
% Seniors | 15.0% | 11.1% |
% WFH | 13.1% | 184.8% |
% w/ College Degree | 26.9% | 26.3% |
As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV is a predominantly white area, with 35.2% of the population identifying as white. The white population has shrunk by 16.2% in the last 5 years. The second most common race or ethnicity in Paradise, Las Vegas, NV is black, making up 20.9% of the population. Foreign-born residents account for 34.6% of the population in Paradise, Las Vegas, NV, and this percentage has increased by 15.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 35.2% | -16.2% |
% Black | 20.9% | 63.3% |
% Hispanic | 19.2% | -22.3% |
% Asian | 20.3% | 28.5% |
% Foreign Born | 34.6% | 15.0% |
Mortgage and Risk — Paradise, Las Vegas, NV
Paradise, Las Vegas, NV lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Paradise, Las Vegas, NV
As of 2024, the percent of homes in Paradise, Las Vegas, NV under the Section 8 program is 2.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Paradise, Las Vegas, NV, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 127 |
Total Units Section 8 | 127 |
% Rentals under Section 8 | 2.1% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $390 | $1,200 | $1,590 |
| 2 Bedroom | $280 | $1,600 | $1,880 |
| 3 Bedroom | $770 | $1,860 | $2,630 |
| 4 Bedroom | $500 | $2,550 | $3,050 |
Affordability — Paradise, Las Vegas, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $335,000 |
| Median Household Income | $67,400 |