7 Las Vegas Neighborhoods on the Rise

Many neighborhoods in Vegas are hotter than ever, and it has nothing to do with the desert sun. Thanks to an influx of investors and the revitalization of areas that had been neglected for decades, Las Vegas is seeing a resurgence of real estate energy and increased property values. Whether you want a sprawling estate in a neighborhood on the edge of the city or a trendy condo on the Strip, Las Vegas’ real estate opportunities are abound. Here are some of the neighborhoods seeing a measurable improvement in amenities and an abundance of new or renovated homes. Buy here, and your home’s value is likely to rise with the neighborhood’s culture and character.

1. North Strip

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An address on this coveted one-mile stretch at the northern end of the Las Vegas Strip is on everyone’s mind. Already home to an alluring array of luxury casinos, fine dining, and world-class entertainment, the North Strip still has room for growth, and people are starting to take notice. Thanks to new buildings in development, including the Lucky Dragon Hotel & Casino and the luxurious Resorts World, the North Strip is a good place to invest and all but ensure a profit. Already nearby are the Las Vegas Convention Center (which is expanding), SLS Las Vegas, and The Venetian. Most recently, the neighborhood has been buzzing about the sale of the Fontainebleau — a never-finished, mothballed eyesore that was a victim of the recession. Its future isn’t entirely clear, but a future destination in the neighborhood will be great for residents and visitors alike.

2. Arts District

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It doesn’t get more Bohemian in Las Vegas than the Arts District. Aided by 10 years of The First Friday art event, which now attracts about 30,000 visitors per month, this neighborhood is becoming more and more attractive. About 100 vendors partake in the popular festival, and many of them have begun sticking around full-time between events – creating a demand for new real estate and allowing the neighborhood to flourish. The Arts District is filling up with art galleries, kitschy coffee shops, and colorful restaurants. Yet, it also has a healthy amount of residential space. From mixed-use buildings with commercial space downstairs and condos upstairs to new apartment buildings, the Arts District is teeming with appealing places for the young and hip to call home.

3. Summerlin South

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The original Summerlin master-planned community boomed in the 90s. Between the country clubs and high-end stores, it became and remained the stuff of vision boards for many Vegas residents. More recently, the district has expanded to include Summerlin South. Another upscale community, Summerlin South offers residents access to parks and public swimming pools, as well as family-friendly community centers. The Downtown Summerlin shopping center is also located in the neighborhood, and residents who love the outdoors will drool at the easy access to Red Rock Canyon. As many as 40,000 new homes are planned for development here in the next few years, proving how hot a commodity the area is.

4. Mountain’s Edge

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Mountain’s Edge is a community just outside Las Vegas where the sale-to-list ratio is over 99% — meaning people get the price they ask for their properties, which is always a good sign. In fact, Mountain’s Edge regularly ranks as one of the best-selling master-planned communities in the region.

The success of the community to date is leading to even more expansion, including additional homes and amenities like grocery stores and restaurants. One of the fastest-growing districts in the Las Vegas Valley, Mountain’s Edge hosts a variety of events, from 5Ks to the Family, Fur, and Fun Festival. With the appeal of indoor activities and outdoor leisure facilities, the value of property in Mountain’s Edge is solid.

5. Silverado Ranch

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Investors have been attracted to Silverado Ranch like bees to pollen as of late. While this planned community first put down roots in the 90s, it has seen a resurgence because prices are still lower than many other Las Vegas neighborhoods. Condos on the market are often updated with price tags under $150,000. Technically in Henderson, Silverado Ranch offers the proximity to amenities in Sin City with ample yard space and room for developers to build new bike paths and shopping centers. Where investors go, renters and homeowners will follow, so getting in on the Silverado Ranch trend sooner rather than later is a good idea.

6. Downtown

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The Arts District is decidedly hot, but Greater Downtown Las Vegas is also on the rise. The area sees plenty of bustle around the Fremont Street Experience, but the rest of the district remains largely (and blissfully) free of crowds. High-rise condos, luxury rentals, and trendy lofts are being upgraded and developed downtown. The neighborhood is away from the swaths of people gravitating toward the Strip every weekend, but close enough to enjoy the spoils when live entertainment sounds appealing. Downtown Las Vegas is ideally positioned for urban dwellers with style. Home to musicians and young professionals, the area continues to be developed with new nightlife and restaurants.

7. Centennial Hills

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Centennial Hills is a neighborhood in northwest Las Vegas seeing a lot of improvement very quickly. Once an eyesore, the growing community has caught the attention of developers thanks to the introduction of new athletic fields and a multi-use complex that has lured doctors and other professionals to set up practice here. In addition to new athletic fields and amenities, the neighborhood has been courting everything from car dealerships to master-planned communities. While the area goes through its renaissance, housing prices are still low, likely to rise as the makeover continues.

With so many areas in Las Vegas expanding the desert city, businesses and residents are spoiled with choices. Increased property values sing a Siren’s song to investors looking to develop communities on the rise. Getting in while costs are still low will position new residents and businesses to see significant earnings thanks to savvy decision-making – as long as they don’t wait.

Where do you see the most growth in Las Vegas? What area do you think will be the next hip neighborhood?