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  5. /Paradise, Las Vegas, NV - 89120

Paradise, Las Vegas, NV—89120

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$413,000
1.3% YoY Growth
Household Income
$75,800
53.9% YoY Growth
Days on Market
47
25.0% Longer YoY
Home Price Forecast
-0.2%
Median Rent
$1,580
14.5% YoY Growth
1-Bed Rent
$1,200
6.7% YoY Growth
2-Bed Rent
$1,400
1.4% YoY Growth
3-Bed Rent
$1,800
8.4% YoY Growth

Other Zip Codes in Paradise, Las Vegas, NV

8911889119
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Paradise, Las Vegas, NV

As of May '26, the median home price in Paradise, Las Vegas, NV is $413,000, with a year-over-year change of -1.3%. 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 TypeMedian Home ValueYoY % Change
All Homes
$413,000-1.3%
Single Family $442,000-1.3%
Condos $197,000-7.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $153,000
    -8.4%
    2 Bed
    		$202,000-7.8%
    3 Bed
    		$395,000-1.2%
    4 Bed
    		$486,000-1.8%
    5 Bed $721,909-0.4%
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    % of Housing Stock

    Studio
    1.5%
    1 Bedroom
    9.7%
    2 Bedrooms
    27.2%
    3 Bedrooms
    32.5%
    4 Bedrooms
    24.8%
    5+ Bedrooms
    4.2%

    Rental Trends — Paradise, Las Vegas, NV

    As of July '25, Rentcast reports the average rent in Paradise, Las Vegas, NV is $1,940, with a year-over-year rent change of -14.5%. Per bedroom, the median rent as of July '25 in Paradise, Las Vegas, NV is 1-bedrooms: $1,280, 2-bedrooms: $1,460, 3-bedrooms: $2,080, 4-bedrooms: $3,130. The most common rental property sizes in Paradise, Las Vegas, NV are 2-bedroom and 1-bedroom, accounting for 40.3% and 22.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,580$1,940
    Studio Rent N/AN/A
    1 Bed Rent $1,200$1,280
    2 Bed Rent $1,400$1,460
    3 Bed Rent $1,800$2,080
    4 Bed Rent $2,600$3,130
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    % of Rental Stock

    Studio
    2.5%
    1 Bedroom
    22.5%
    2 Bedrooms
    40.3%
    3 Bedrooms
    21.3%
    4 Bedrooms
    11.7%
    5+ Bedrooms
    1.7%

    Property Listings — Paradise, Las Vegas, NV

    As of May '26, Realtor.com reports that the median days on market for a home in Paradise, Las Vegas, NV is 47. This is a increase of 25.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$450,000-8.0%
    Listing Count
    		153-2.0%
    Listings as % of Homes1.0%-2.0%
    Days on Market
    		4725.0%
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    Demographics — Paradise, Las Vegas, NV

    As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV has a population of 23,800, which has decreased by -5.3% over the past 5 years. Paradise, Las Vegas, NV is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 26.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.3% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		23,800-5.3%
    % Under 18
    		20.1%11.7%
    % Seniors
    		17.0%-2.9%
    % WFH
    		5.3%178.9%
    % w/ College Degree
    		26.3%11.4%
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    As of the latest ACS Survey released in 2023, Paradise, Las Vegas, NV is a predominantly hispanic area, with 39.3% of the population identifying as hispanic. The hispanic population has grown by 11.3% in the last 5 years. The second most common race or ethnicity in Paradise, Las Vegas, NV is white, making up 38.1% of the population. Foreign-born residents account for 24.7% of the population in Paradise, Las Vegas, NV, and this percentage has increased by 5.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		38.1%-16.4%
    % Black
    		5.0%-35.1%
    % Hispanic
    		39.3%11.3%
    % Asian
    		8.7%13.0%
    % Foreign Born
    		24.7%5.6%
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    Mortgage and Risk — Paradise, Las Vegas, NV

    According to HUD data as of 2023, there were 74 mortgage originations in Paradise, Las Vegas, NV, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Paradise, Las Vegas, NV. Investor activity is low, as 5.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		74
    % Conventional Loans
    		91.0%
    % Government Loans
    		9.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		4.0%
    % Cash Out Refinance
    		8.0%
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    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 2.7%. 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
    		102
    Total Units Section 8
    		102
    % Rentals under Section 8
    		2.7%
    % Occupied Section 8
    		98.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$170$1,200$1,370
    2 Bedroom$220$1,400$1,620
    3 Bedroom$470$1,800$2,270
    4 Bedroom$30$2,600$2,630

    Affordability — Paradise, Las Vegas, NV

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.1
    Median Home Price$413,000
    Median Household Income$75,800

    Paradise, Las Vegas, NV — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Paradise, Las Vegas, NV

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    Whitney, Las Vegas, NV

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    Frequently Asked Questions