The Strip, Las Vegas, NV—89109
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in The Strip, Las Vegas, NV
Home Price Trends — The Strip, Las Vegas, NV
As of Oct '25, the median home price in The Strip, Las Vegas, NV is $391,000, with a year-over-year change of 2.5%. This indicates that home prices in The Strip, Las Vegas, NV are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $391,000 | 2.5% |
| Single Family | $480,000 | 0.8% |
| Condos | $382,000 | 2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $386,000 | 2.7% |
2 Bed | $591,000 | 4.0% |
3 Bed | $876,000 | 3.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — The Strip, Las Vegas, NV
As of July '25, Rentcast reports the average rent in The Strip, Las Vegas, NV is $2,630, with a year-over-year rent change of -17.3%. Per bedroom, the median rent as of July '25 in The Strip, Las Vegas, NV is studios: $2,040, 1-bedrooms: $2,040, 2-bedrooms: $2,940, 3-bedrooms: $2,840. The most common rental property sizes in The Strip, Las Vegas, NV are 2-bedroom and 1-bedroom, accounting for 40.2% and 37.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,450 | $2,630 |
| Studio Rent | $1,100 | $2,040 |
| 1 Bed Rent | $2,180 | $2,040 |
| 2 Bed Rent | $2,950 | $2,940 |
| 3 Bed Rent | $2,200 | $2,840 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — The Strip, Las Vegas, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in The Strip, Las Vegas, NV is 76. This is a increase of 5.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | -13.0% |
Listing Count | 272 | 28.0% |
| Listings as % of Homes | 1.5% | 28.0% |
Days on Market | 76 | 5.0% |
Demographics — The Strip, Las Vegas, NV
As of the latest ACS Survey released in 2023, The Strip, Las Vegas, NV has a population of 6,920, which has decreased by -11.7% over the past 5 years. The Strip, Las Vegas, NV is a moderately popular place for families, as children make up 15.1% of the population. The area has a moderately educated workforce, with 37.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,920 | -11.7% |
% Under 18 | 15.1% | 33.6% |
% Seniors | 19.9% | 12.4% |
% WFH | 14.4% | 65.5% |
% w/ College Degree | 37.8% | -11.7% |
As of the latest ACS Survey released in 2023, The Strip, Las Vegas, NV is a predominantly white area, with 43.5% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in The Strip, Las Vegas, NV is black, making up 18.2% of the population. Foreign-born residents account for 22.8% of the population in The Strip, Las Vegas, NV, and this percentage has decreased by 32.9% 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 | 43.5% | -5.0% |
% Black | 18.2% | 14.5% |
% Hispanic | 16.3% | -41.6% |
% Asian | 14.7% | 72.9% |
% Foreign Born | 22.8% | -32.9% |
Mortgage and Risk — The Strip, Las Vegas, NV
According to HUD data as of 2023, there were 112 mortgage originations in The Strip, Las Vegas, NV, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in The Strip, Las Vegas, NV. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 112 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 6.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — The Strip, Las Vegas, NV
The Strip, Las Vegas, NV lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 149 |
Total Units Section 8 | 149 |
% Rentals under Section 8 | 7.1% |
% Occupied Section 8 | 95.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$940 | $2,180 | $1,240 |
| 2 Bedroom | -$1,470 | $2,950 | $1,480 |
| 3 Bedroom | -$110 | $2,200 | $2,090 |
| 4 Bedroom | N/A | N/A | $2,460 |
Affordability — The Strip, Las Vegas, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $391,000 |
| Median Household Income | $54,900 |