City of Las Vegas

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City of Las Vegas Monthly Economic Update

City of Las Vegas Employment

  • Employment

    May '25

  • 327,514

Unemployment Rate Comparison

  • Unemployment Rate

    May '25

  • 5.6%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Clark County Taxable Retail Sales

  Trailing 12-Months
  Mar '24 Mar '25 Net Change % Change
Taxable Retail 100.0% $66,015.7M $64,657.5M -$1,358.3M -2.1%
Food Services and Drinking Places 18.1% $13,014.5M $11,705.6M -$1,308.9M -10.1%
Motor Vehicle and Parts Dealers 9.4% $6,835.0M $6,048.5M -$786.5M -11.5%
Merchant Wholesalers, Durable Goods 6.4% $4,569.0M $4,156.2M -$412.8M -9.0%
Building Material and Garden Equipment & Supplies 3.6% $2,636.5M $2,323.4M -$313.1M -11.9%
Rental and Leasing Services 2.5% $1,815.2M $1,643.8M -$171.4M -9.4%
Food and Beverage Stores 2.5% $1,749.4M $1,607.3M -$142.1M -8.1%
Professional, Scientific, and Technical Services 1.9% $1,645.3M $1,236.0M -$409.3M -24.9%
Miscellaneous Manufacturing 0.7% $520.2M $454.0M -$66.2M -12.7%
Machinery Manufacturing 0.5% $446.8M $303.9M -$142.9M -32.0%

Source: Nevada Department of Taxation

Commercial Real Estate Market

Office Market

Q2 '24

Vacancy Rate

14.5%

  • 0.4% vs. Prior Yr.
  • 0.8% vs. Prior Qtr.

Lease Rate

$2.16

  • 0.0% vs. Prior Yr.
  • 0.0% vs. prior Qtr.
Retail Market

Q2 '24

Vacancy Rate

5.1%

  • -0.2% vs. Prior Yr.
  • 0.0% vs. Prior Qtr.

Lease Rate

$1.98

  • 0.0% vs. Prior Yr.
  • -0.7% vs. Prior Qtr.
Industrial Market

Q2 '24

Vacancy Rate

4.9%

  • -0.6% vs. Prior Yr.
  • -0.1% vs. Prior Qtr.

Lease Rate

$0.81

  • 3.4% vs. Prior Yr.
  • 4.2% vs. Prior Qtr.

Housing Market

Median Closing Price

Existing Home

New Home

Source: SalesTraq

  • Existing Home

    $399K

    Dec '23

  • New Home

    $550K

    Dec '23
Home Closings

Existing Home

New Home

Source: SalesTraq

  • Existing Home

    605

    Dec '23

  • New Home

    240

    Dec '23
Permits

Total Permits

Permit Value

Source: SalesTraq

  • Total Permits

    157

    Feb '23

  • Permit Value

    $55M

    Jul '22
Vacant Land Transactions

Acres Sold

Q4 '23

427.9

  • 525.8% vs. Prior Yr.
  • 224.5% vs. Prior Qtr.

Total Value

Q4 '23

$324,466,071

  • 385.6% vs. Prior Yr.
  • 230.4% vs. Prior Qtr.

Price Per Square Foot

Q4 '23

$17.41

  • -22.4% vs. Prior Yr.
  • 1.8% vs. Prior Qtr.