Where are all the tiny homes in Las Vegas?

For anyone in any way interested in home design, HGTV’s “Tiny House Hunters” is a must-watch show, especially for the thousands of homeowners who want to give up the burden of maintaining a large home for a smaller living space that’s more affordable. Tiny homes are nearly ubiquitous these days, and more than a few Las Vegas homeowners have jumped on the trend. But with all the talk of master-planned communities and luxury condos, where are all the tiny homes in Las Vegas?

New Luxury Condos and Townhomes Attract Millennials and Baby Boomers in Summerlin

Both millennials and baby boomers are interested in the low-maintenance lifestyle that comes with living in a smaller space. Such condos offer lock-and-leave capabilities, making it easier for homeowners to leave their homes for days or weeks at a time. Some of these homes are micro-condos, smaller spaces that give up breadth for amenities. While luxury townhomes and condos as a whole have helped the Las Vegas housing market grow and attract out-of-state buyers, Summerlin is becoming an enclave for just these types of condos and townhomes.

Is Las Vegas the new Palm Springs?

While many tourists still think of Las Vegas as a transient party city where the singular industry is gaming and hospitality, locals know this town is a dynamic place to live. Not only are there outdoor activities like those at Red Rock and Mount Charleston, but the hotels both on and off The Strip are top-notch. Although Las Vegas has been known as an affordable city great for first-time homebuyers, it’s also a place where the luxury real estate market is booming. Like Palm Springs, which is known for its hot springs, luxury hotels, spas, and golf courses, Las Vegas is a desert town with a cool vibe that suits both luxury buyers and outdoor adventurers. But is it really the next Palm Springs of the West Coast?

Is Las Vegas really the most overvalued housing market?

In May, Forbes named Las Vegas the most overvalued housing market in America. Citing the fact that purchase prices on homes and condos in Las Vegas rose by 11 percent. Forbes explains that the Fitch Ratings Report that originated the story indicates that home prices are 21.3 percent above what they should be. While home prices are rising in the Valley, income is not. The reports indicate that Southern Nevada got ahead of itself with prices that don’t quite match what they should be. But is Las Vegas really the most overvalued housing market in the country?

Why Las Vegas Is a Great City for First-Time Homebuyers

When considering the rankings, it’s important to note that all three cities stacked up as some of the most affordable cities. North Las Vegas is the 13th most affordable city in the nation. Henderson was in the top 25, and Las Vegas ranks at 32. But the question remains: why is the Las Vegas Valley a great city for first-time homebuyers when it was recently named the most overvalued home market in the nation?

How Las Vegas Medical District Will Affect Housing Developments in Downtown

Besides the major players in gaming and nightlife, hospitals and medical centers are the biggest employers in Las Vegas. Still, there’s a need for doctors, which is why UNLV created its own School of Medicine to keep more newly-minted medical professionals in the state. Currently, students have a newly designed space at the school’s Shadow Lane campus, but by 2021, UNLV School of Medicine’s new $200 million campus will be the central focus of the Las Vegas Medical District, a major new frontier for Las Vegas.