Paradise, Las Vegas, NV—89119
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 $273,000, with a year-over-year change of -2.6%. This indicates that home prices in Paradise, Las Vegas, NV are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $273,000 | -2.6% |
| Single Family | $387,000 | -0.5% |
| Condos | $179,000 | -7.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $143,000 | -8.9% |
2 Bed | $199,000 | -6.6% |
3 Bed | $383,000 | -0.8% |
4 Bed | $437,000 | -0.7% |
| 5 Bed | $533,000 | 0.2% |
% of Housing Stock
Rental Trends — Paradise, Las Vegas, NV
As of July '25, Rentcast reports the average rent in Paradise, Las Vegas, NV is $1,420, with a year-over-year rent change of 2.2%. Per bedroom, the median rent as of July '25 in Paradise, Las Vegas, NV is studios: $1,050, 1-bedrooms: $1,050, 2-bedrooms: $1,420, 3-bedrooms: $1,840, 4-bedrooms: $2,530. The most common rental property sizes in Paradise, Las Vegas, NV are 2-bedroom and 1-bedroom, accounting for 44.3% and 32.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,420 |
| Studio Rent | $950 | $1,050 |
| 1 Bed Rent | $1,000 | $1,050 |
| 2 Bed Rent | $1,350 | $1,420 |
| 3 Bed Rent | $1,750 | $1,840 |
| 4 Bed Rent | $2,400 | $2,530 |
% 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 68. This is a increase of 43.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $229,000 | -4.0% |
Listing Count | 180 | 33.0% |
| Listings as % of Homes | 0.4% | 33.0% |
Days on Market | 68 | 43.0% |
Demographics — Paradise, Las Vegas, NV
As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV has a population of 50,600, which has decreased by -3.2% over the past 5 years. Paradise, Las Vegas, NV is a moderately popular place for families, as children make up 18.7% of the population. The area has a poorly educated workforce, with 19.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 50,600 | -3.2% |
% Under 18 | 18.7% | -2.6% |
% Seniors | 11.5% | 10.6% |
% WFH | 6.9% | 392.9% |
% w/ College Degree | 19.9% | 11.2% |
As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV is a predominantly hispanic area, with 38.5% of the population identifying as hispanic. The hispanic population has shrunk by 12.1% in the last 5 years. The second most common race or ethnicity in Paradise, Las Vegas, NV is white, making up 29.1% of the population. Foreign-born residents account for 31.2% of the population in Paradise, Las Vegas, NV, and this percentage has decreased by 11.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 29.1% | 0.0% |
% Black | 13.7% | 6.2% |
% Hispanic | 38.5% | -12.1% |
% Asian | 11.4% | 20.0% |
% Foreign Born | 31.2% | -11.6% |
Mortgage and Risk — Paradise, Las Vegas, NV
According to HUD data as of 2023, there were 203 mortgage originations in Paradise, Las Vegas, NV, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Paradise, Las Vegas, NV. Investor activity is low, as 4.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 203 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 4.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
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 2.9%. 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 | 553 |
Total Units Section 8 | 486 |
% Rentals under Section 8 | 2.9% |
% Occupied Section 8 | 95.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $310 | $1,000 | $1,310 |
| 2 Bedroom | $200 | $1,350 | $1,550 |
| 3 Bedroom | $420 | $1,750 | $2,170 |
| 4 Bedroom | $120 | $2,400 | $2,520 |
Affordability — Paradise, Las Vegas, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $273,000 |
| Median Household Income | $46,500 |