Southwest Las Vegas Valley Boasts Highest Median Household Income

The southwest Las Vegas Valley now leads the region in median household income, according to Colliers’ latest report. In the first quarter, the median annual household income in this area reached $88,423, surpassing Henderson’s $86,682. This represents a shift from the first quarter of 2023 when the figures were $90,531 for the southwest and $92,356 for Henderson.

Jeffrey Swinger, Executive Vice President for Multifamily Investment Sales at Colliers International, noted that the community profile of the unincorporated township of Enterprise and the surrounding southwestern valley remains uncertain. However, the area clearly draws in high-income earners. The region’s appeal stems from its availability of land, proximity to the Strip, and employment opportunities, which have driven significant development.

Enterprise, covering much of the southwestern valley, is among the fastest-growing areas nationwide. This growth is marked by a blend of commercial and residential projects. According to Esri’s population data, Enterprise’s population surged nearly 60% from 2010 to 2023, far outpacing the valley’s overall 20% growth. By the end of 2023, Enterprise had 245,243 residents and is projected to add 13,713 more by 2028.

In third place for median household income is Summerlin/The Lakes with $78,395, followed by the Northwest Valley at $77,352. The northwest valley has the most households at 125,400, with the southwest and Summerlin/The Lakes following at 103,800 and 101,100, respectively. University/The Strip has the highest renter percentage at 79%, trailed by the Central Valley at 68% and west Las Vegas at 61%.

Sunrise Manor/Northeast has the largest average household size at 3.2 people per home, with North Las Vegas at 3.1, and the northwest and southwest both at 2.7. A recent SmartAsset report indicates that a single adult needs an annual income of $94,432, or $45.40 per hour, to live comfortably in Las Vegas.

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