Published on Saturday, February 13, 2016 by Land Century
Population and Demographics
Nevada as a whole had a population of 2,890,845 as of July 2015. Thats a 7.05% (51,746) increase compared to the 2010 census. The vast majority of the states population growth is centered in Nye County, where the town of Pahrump has been rapidly growing since 1980. As of 2010, the town had approximately 36,000 residents.
North Las Vegas and Henderson are two of the top 20 fastest-growing cities in the United States with populations over 100,000.
Mesquite, which is located 65 miles north of Las Vegas, saw a spurt of growth between 1990 and 2000. Searchlight and Indian Springs have also seen exceptional growth.
Per capita income is the highest in the following cities:
* Incline Village: $52,521
* Kingsbury: $41,421
* Mount Charleston: $38,821
* Verdi-Mogul: $38,233
* Zephyr Cove: $37,218
* Summerlin South: $33,017
Nevada ranks 19 in the country for per capita personal income. Only a small percentage of the state's population lives in rural areas, and these people tend to be native Nevada residents. Many of the residents in Reno, Las Vegas and other metropolitan areas were born in another state. Many people from California move to Nevada because the cost of living is more affordable.
Climate and Geography
Nevadas climate and geography is diverse. The northern portion of the state is located within the Great Basin, which is a mild desert area that can experience some extremely hot temperatures in the summer, and vertical temperatures in the winter. The area will receive the occasional summer thunderstorm due to moisture from the Arizona monsoon. Storms from the Pacific can also cause snow. The highest temperature on record in the state of Nevada was 125°F in June, 1994.
The northern part of the state is also home to the Humboldt River, which runs from the East to West and drains into the Humboldt Sink. The state is home to several other rivers as well, including Truckee, Walker and Carson.
In addition to rivers, the state is also home to several mountain ranges, some of which have a peek of 13,000+ feet. These mountains are home to lush forests that are high above the desert plains. The southern portion of the state, where Las Vegas is located, is situated in the Mojave Desert. The terrain is also lower, which leads to hotter summer days and cooler winter nights.
There are 172 mountain summits in Nevada, with the largest being in the southern portion of the state: Spring Mountain range. Its by far the most mountainous state in the country. Its also the driest due to the state being mostly desert. Daytime temperatures can reach as high as 125°F in the summer. In the winter, nighttime temperatures can dip to -50°F.
Economy and Tourism
The climate and geography make the state a favorable place to invest in land, but what about the local economy? As you may have guessed, tourism accounts for the largest portion of the states economy. Las Vegas is the primary tourist destination, with over 266 casinos, hundreds of hotels and plenty of entertainment venues. In 2008, the casinos in Las Vegas alone brought in $12 billion in gaming revenue and $13 billion in non-gaming revenue.
Nevada is also the only state where prostitution is legal in certain areas counties with populations under 400,000. There are currently 14 counties that have permitted legalized prostitution under state laws, and eight have legalized brothels. Prostitution is not legal in Reno or Las Vegas, but it is a draw for some tourists and locals in the state. Mining and cattle ranching also generate revenue for the state, although not nearly as much as tourism and entertainment.
Land and Real Estate Market Find the Best Deals
With a fast growing population and tourist attractions, there are plenty of reasons to invest in land in Nevada. But where can you find the best deals?
First, lets take a look at Nevadas home prices and values:
* The median sale price for homes in Nevada is $223,665.
* Nevada has a higher foreclosure rate than the national average.
* Only 0.1% homes are delinquent on their mortgages.
* Only 0.2% of homes have negative equity.
As far as home prices go, cities with some of the highest home values include:
* Gardnerville: $215,000
* Boulder City: $207,800
* Henderson: $195,400
* Reno: $181,400
* Las Vegas: $146,900
Rental prices are lower than the national average, at $1248, but prices have been steadily increasing over the last four years. The real estate market is doing pretty well, and there are many residents moving into the state from California. Thats a positive sign for those looking to invest in real estate but what about land? Lets take a look at some of the current listings we have:
* 640 acres for sale for $99,500 in Lander County. This property has NO restrictions or time limits on building.
* 56 acres for sale for $22,999 just outside of Lovelock. Owner financing is available for this property.
* We also recently sold a 160-acre property for $55,000. You read that right 160 acres for $55,000.
The best deals can be found outside city limits and in more rural areas, but you can still find great opportunities right outside of Las Vegas, Reno and other areas with high populations.
The land market in Nevada offers many opportunities, and you can get your hands on lots of acres at rock bottom prices. You can use this land for recreational purposes, to build a home, or (if zoning permits) commercial ventures. Taxes are low, and the state is one of the fastest growing in the country.