Paradise Palms, Las Vegas, NV—89169
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paradise Palms, Las Vegas, NV
As of Oct '25, the median home price in Paradise Palms, Las Vegas, NV is $282,000, with a year-over-year change of -2.3%. This indicates that home prices in Paradise Palms, Las Vegas, NV are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $282,000 | -2.3% |
| Single Family | $376,000 | -1.6% |
| Condos | $192,000 | -3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $177,000 | -3.8% |
2 Bed | $210,000 | -3.7% |
3 Bed | $359,000 | -2.2% |
4 Bed | $446,000 | 0.0% |
| 5 Bed | $494,000 | 1.9% |
% of Housing Stock
Rental Trends — Paradise Palms, Las Vegas, NV
As of July '25, Rentcast reports the average rent in Paradise Palms, Las Vegas, NV is $1,710, with a year-over-year rent change of -8.1%. Per bedroom, the median rent as of July '25 in Paradise Palms, Las Vegas, NV is studios: $973, 1-bedrooms: $1,350, 2-bedrooms: $1,830, 3-bedrooms: $2,290, 4-bedrooms: $3,330. The most common rental property sizes in Paradise Palms, Las Vegas, NV are 1-bedroom and 2-bedroom, accounting for 42.9% and 36.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,710 |
| Studio Rent | $825 | $973 |
| 1 Bed Rent | $1,250 | $1,350 |
| 2 Bed Rent | $1,800 | $1,830 |
| 3 Bed Rent | $1,980 | $2,290 |
| 4 Bed Rent | $2,800 | $3,330 |
% of Rental Stock
Property Listings — Paradise Palms, Las Vegas, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Paradise Palms, Las Vegas, NV is 67. This is a increase of 13.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $285,000 | 8.0% |
Listing Count | 163 | 32.0% |
| Listings as % of Homes | 0.5% | 32.0% |
Days on Market | 67 | 13.0% |
Demographics — Paradise Palms, Las Vegas, NV
As of the latest ACS Survey released in 2023, Paradise Palms, Las Vegas, NV has a population of 21,200, which has decreased by -1.8% over the past 5 years. Paradise Palms, Las Vegas, NV is a moderately popular place for families, as children make up 19.1% of the population. The area has a poorly educated workforce, with 18.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,200 | -1.8% |
% Under 18 | 19.1% | -8.2% |
% Seniors | 12.2% | 3.4% |
% WFH | 8.4% | 265.2% |
% w/ College Degree | 18.6% | 28.3% |
As of the latest ACS Survey released in 2023, Paradise Palms, Las Vegas, NV is a predominantly hispanic area, with 32.8% of the population identifying as hispanic. The hispanic population has shrunk by 28.4% in the last 5 years. The second most common race or ethnicity in Paradise Palms, Las Vegas, NV is white, making up 29.7% of the population. Foreign-born residents account for 30.3% of the population in Paradise Palms, Las Vegas, NV, and this percentage has decreased by 14.4% 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 | 29.7% | 1.7% |
% Black | 23.6% | 58.4% |
% Hispanic | 32.8% | -28.4% |
% Asian | 9.4% | 28.8% |
% Foreign Born | 30.3% | -14.4% |
Mortgage and Risk — Paradise Palms, Las Vegas, NV
According to HUD data as of 2023, there were 151 mortgage originations in Paradise Palms, Las Vegas, NV, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Paradise Palms, Las Vegas, NV. Investor activity is high, as 17.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 151 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 17.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Paradise Palms, Las Vegas, NV
As of 2024, the percent of homes in Paradise Palms, Las Vegas, NV under the Section 8 program is 6.8%. 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. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Paradise Palms, Las Vegas, NV, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 528 |
Total Units Section 8 | 528 |
% Rentals under Section 8 | 6.8% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,250 | $1,260 |
| 2 Bedroom | -$310 | $1,800 | $1,490 |
| 3 Bedroom | $110 | $1,980 | $2,090 |
| 4 Bedroom | -$340 | $2,800 | $2,460 |
Affordability — Paradise Palms, Las Vegas, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $282,000 |
| Median Household Income | $39,700 |