City of Las Vegas Monthly Economic Update

City of Las Vegas Employment
  • Employment

    Apr '21
  • 282,479

Unemployment Rate Comparison
  • Unemployment Rate

    Apr '21
  • 9.0%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Clark County Taxable Retail Sales

  Trailing 12-Months
  Mar '20 Mar '21 Net Change % Change
Taxable Retail 100.0% $46,860.4M $42,532.2M -$4,328.2M -9.2%
Food Services and Drinking Places 14.5% $10,449.9M $6,170.7M -$4,279.1M -40.9%
Motor Vehicle and Parts Dealers 12.2% $4,948.9M $5,190.5M $241.6M 4.9%
General Merchandise Stores 9.0% $3,713.3M $3,830.3M $117.0M 3.1%
Merchant Wholesalers, Durable Goods 7.4% $3,135.8M $3,131.6M -$4.2M -0.1%
Clothing and Clothing Accessories Stores 5.6% $3,287.4M $2,367.7M -$919.7M -28.0%
Building Material and Garden Equipment & Supplies 5.3% $1,882.8M $2,249.0M $366.2M 19.5%
Miscellaneous Store Retailers 3.4% $1,350.4M $1,456.1M $105.7M 7.8%
Food and Beverage Stores 3.7% $1,403.5M $1,572.2M $168.7M 12.0%
Rental and Leasing Services 2.9% $1,757.7M $1,219.8M -$537.9M -30.6%
Professional, Scientific, and Technical Services 1.9% $806.2M $798.0M -$8.2M -1.0%

Source: Nevada Department of Taxation

Commercial Real Estate Market

Office Market

Q1 '21

Vacancy Rate

15.3%

  • 2.6% vs. Prior Yr.
  • 0.1% vs. Prior Qtr.

Lease Rate

$2.03

  • -1.0% vs. Prior Yr.
  • -0.4% vs. prior Qtr.
Retail Market

Q1 '21

Vacancy Rate

6.9%

  • 0.3% vs. Prior Yr.
  • -0.2% vs. Prior Qtr.

Lease Rate

$1.84

  • -0.8% vs. Prior Yr.
  • 0.9% vs. Prior Qtr.
Industrial Market

Q1 '21

Vacancy Rate

5.9%

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

Lease Rate

$0.71

  • 3.5% vs. Prior Yr.
  • -0.2% vs. Prior Qtr.

Housing Market

Median Closing Price

Existing Home

New Home

Las Vegas (NV) Las Vegas MSA (NV) Source: SalesTraq

  • Existing Home

    $315K

    Mar '21
  • New Home

    $456K

    Mar '21
Home Closings

Existing Home

New Home

Source: SalesTraq

  • Existing Home

    1,644

    Mar '21
  • New Home

    177

    Mar '21
Permits

Total Permits

Permit Value

Source: SalesTraq

  • Total Permits

    249

    Apr '21
  • Permit Value

    $86M

    Apr '21
Vacant Land Transactions

Acres Sold

Q4 '20

226.6

  • -27.7% vs. Prior Yr.
  • 523.9% vs. Prior Qtr.

Total Value

Q4 '20

$133,371,503

  • -27.1% vs. Prior Yr.
  • 725.0% vs. Prior Qtr.

Price Per Square Foot

Q4 '20

$13.51

  • 0.8% vs. Prior Yr.
  • 32.2% vs. Prior Qtr.