As we transition into 2024, homebuyers and investors want to know, is buying a house in Henderson a good investment. Based on current market conditions, purchasing a house in Henderson offers an appealing prospect in 2024.
Note: Henderson currently boasts a seller’s market, marked by high levels of demand and limited inventory; therefore it would be prudent for potential buyers to exercise some degree of prudence when making purchasing decisions.
Henderson Nevada Is Rapidly Expanding
Henderson is home to one of Nevada’s fastest-expanding populations; according to U.S. Census Bureau estimates for 2020 alone there was an estimated population of 317,610 in Henderson.
Comparing that number with 2018, when its population stood at 291,346, an increase of 26264 residents within two years.
Neilsberg reports that Henderson has experienced population growth for more than 20 years now, so we anticipate this trend continuing.
Population growth can be an encouraging sign for home investors since increased population demand contributes to property value appreciation and an increasingly vibrant real estate market.
Henderson’s Housing Market Is Resilient
Henderson’s housing market continues to experience strong demand, evidenced by rising home prices and rapid sales activity. Let’s review some key statistics quickly here.
- Current median sale prices in Henderson have reached roughly $475,000. This represents a considerable increase from 2023’s median sale prices of approximately $452,000.
- Henderson homes typically sell in 38 days on average versus 40+ for homes sold last year.
Henderson Is In A Seller’s Market
At present, Henderson boasts an estimated two-month supply of available homes on the market.
Supply shortages that last less than six months tend to favor sellers as buyers must compete over available properties.
Investors looking for properties in Henderson should anticipate having limited negotiating power and may pay above the asking price; thus they must act with extreme caution before submitting offers in this market.
Will Henderson Housing Prices Decrease?
It appears unlikely. In 2024, the median estimated home value has increased from $459,000 in 2023. 2024’s estimated median sale price has also seen an upswing, rising from an estimated figure of $452,000 last year.
All signs point towards upward trends continuing.
Will Henderson Housing Prices Continue to Rise?
We believe that Henderson’s housing prices will experience steady increases over the near future. Key factors driving Henderson’s appeal as a residential destination include its low housing inventory and population growth.
Concerning Henderson’s residential appeal: Boasting lower crime rates than Las Vegas and being seen as safer among similar-population cities, Henderson makes for an appealing location among homebuyers.
Henderson residents take advantage of its proximity to Las Vegas by having ready and immediate access to an expansive job market.
Reasons Why People Are Moving To Henderson
By analyzing the below reasons you will find out if, is buying a house in Henderson a good investment.
1. Cost of Living
Henderson residents benefit from everyday savings thanks to goods and services priced below the national average; however, housing, utilities and healthcare costs tend to exceed this figure.
Henderson House Prices Compare with National Average
According to the NAR’s Las Vegas-Henderson-Paradise Area Local Market Report First Quarter 2024, median single-family sales prices had reached $465,400 as of Q1.
Compare that figure with the national average for this timeframe of $420,800.
Henderson’s higher home prices can be partially countered by Nevada’s advantageous tax policies – no state income tax and lower property tax rates provide homebuyers and investors the chance to save money while building long-term value in Henderson real estate investments.
2. Job Opportunities and Employment
Henderson lies within Clark County, the economic heart of Nevada that houses most of its inhabitants and draws over 45 million annual visitors to its shores. Clark County boasts about three-quarters of Nevada’s residents (approximately 2.3 million residents, or roughly 75%) as its permanent inhabitants, with roughly three-quarters living here year-round.
Answer: More jobs! According to a report issued by the Nevada Department of Employment, Training, and Rehabilitation (DETR), the Las Vegas labor force increased by 16,977 from March 2023-2024.
According to data compiled by the Federal Reserve Bank of St Louis, Las Vegas currently boasts an unemployment rate just shy of 6 percent and therefore offers a relatively stable job market.
Henderson Healthcare Industry.
Henderson boasts a flourishing healthcare sector, home to several notable facilities. These medical centers can be found here:
Henderson Hospital and Dignity Health’s Rose de Lima Campus. Also, Six Hills Hospital may be of service in some situations.
Encompass Health Rehabilitation Hospital of Henderson
Leisure and Hospitality Henderson’s leisure and hospitality sectors enjoy great advantages from Las Vegas’s tourism industry.
Henderson offers an alternative to Las Vegas’s frantic Strip with its quieter pace yet equally exciting and diverse entertainment scene, from public events at Water Street Plaza to outdoor recreation nearby.
Henderson’s proximity to the Las Vegas tourism corridor has stimulated hotel, resort, and entertainment venue developments here, contributing significantly to job creation in Henderson and strengthening its local job market significantly.
Las Vegas Metropolitan Area Is Where the Money Is.
Las Vegas and Henderson come together to form Nevada’s metropolitan region, accounting for much of Nevada’s economic activity and wealth accumulation. Henderson residents benefit from improved infrastructure, services, and overall higher quality of life as a result of this development.
3. Weather and Outdoor Activities
Henderson, Nevada boasts approximately 297 sunny days annually compared to an annual US average of just 205 sunny days, making this location perfect for outdoor enthusiasts.
Local Parks Henderson offers many well-kept parks for both residents and visitors to enjoy, including:
- Henderson Bird Viewing Preserve
- Heritage Park, Cornerstone Park
- Mission Hills Park of Anthem
- Hills Park (or Anthem Hills Park for short).
- Paseo Vista Park (Athen Hills Park)
- Reunion Trails Park
- Madeira Canyon Park
- Aventura Park
Hiking And Biking
All provide hiking and bicycling trails that lead into Henderson Bird Viewing Preserve for viewing birds at Henderson.
Sloan Canyon National Conservation Area lies to Henderson’s southern edge and encompasses over 48,00 acres of scenic desert landscape to discover and discover.
River Mountains Loop Trail offers a 35-mile paved pathway perfect for cycling enthusiasts and the McCullough Hills Trail system offers 8 miles of multiuse trails for multisport enthusiasts alike.
Water-based Activities
Lake Mead offers many water-based activities within an easily reachable radius from Henderson. Boating, fishing, kayaking and swimming are just a few activities available here on its 158,100 acres of water surface area.
Lake Las Vegas provides paddleboarding, kayaking and electric boat rental options close by.
Cowabunga Bay Water Park in Henderson provides fun rides suitable for most age groups and is an excellent option when searching for a waterpark.
Henderson offers several public pools and aquatic centers for residents to use, such as the Henderson Multigenerational Center. Residents benefit from various aquatic programs available within these centers ranging from swimming instruction to fitness sessions in water. Programs are spread out throughout Henderson at various facilities for easy accessibility.
4. Investment Properties In Henderson
So, now focus here to get the answer is buying a house in Henderson a good investment? Henderson boasts a sizeable rental market of 43,000 renter-occupied units and demand is high due to both population growth and its closeness to Las Vegas.
Why Purchase Rental Property in Henderson?
There are various advantages associated with investing in rental properties in Henderson, NV; however, certain considerations must also be made before making your final decision.
Advantages:
- Strong rental demand with low vacancy rates,
- appreciating property values,
- increasing rents beyond the average,
- Close proximity to Las Vegas.
- Favorable tax environment
Considerations:
- But these can come at the price of high initial investments,
- competitive markets,
- increased property management responsibilities,
- Potential Market Fluctuations
Henderson’s rental market can offer excellent investment potential, but newcomers to this arena need assistance from an expert. Contact Las Vegas Real Estate Sales for professional insight. They will also guide you about is buying a house in Henderson a good investment, with expert local insight!
