Best places to buy rental properties in Nevada

February 9, 2022
● Written by
Teddy

Nevada

Investing in Nevada

Nevada is a great place to buy rental properties. The state has no personal income tax, which means more money in your pocket. Additionally, the cost of living is relatively low. According to the US News & World Report, the state is ranked #1 in Infrastructure and #6 in economy with a $178 billion annual GDP.

The Nophin team crunched the numbers and found the five best places to invest in Nevada rental properties.

Statewide vacancy rates

NV Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Reno, NV

Reno is the second most populated city in Nevada and is fairly close to Lake Tahoe, a popular vacation destination.

  • Population: 264,165
  • Median household income: $61,860
  • Median 1-bedroom monthly rent: $1,391
  • Median listing home price: $625,000

Las Vegas, NV

As one of the most famous cities in the world attracting more than 30 million visitors each year, Las Vegas is famous for its casinos, food, and entertainment.

  • Population: 641,903
  • Median household income: $58,377
  • Median 1-bedroom monthly rent: $1,300
  • Median listing home price: $450,000

Henderson, NV

Henderson is located south of Las Vegas and where the Las Vegas Raiders is headquartered.

  • Population: 317,610
  • Median household income: $75,430
  • Median 1-bedroom monthly rent: $1,595
  • Median listing home price: $525,000

North Las Vegas, NV

North Las Vegas is part of the Las Vegas Metropolitan Area and is home to the Las Vegas Motor Speedway.

  • Population: 262,527
  • Median household income: $60,972
  • Median 1-bedroom monthly rent: $1,395
  • Median listing home price: $435,000

Sparks, NV

Sparks is a growing city just east of Reno. With over 300 days a year of sunshine, Sparks is a great place to explore the outdoors.

  • Population: 108,445
  • Median household income: $67,187
  • Median 1-bedroom monthly rent: $1,450
  • Median listing home price: $560,000

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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