City of Las Vegas

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City of Las Vegas Monthly Economic Update

City of Las Vegas Employment

  • Employment

    Jul '25

  • 324,024

Unemployment Rate Comparison

  • Unemployment Rate

    Jul '25

  • 6.0%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Clark County Taxable Retail Sales

  Trailing 12-Months
  May '24 May '25 Net Change % Change
Taxable Retail 100.0% $66,142.7M $64,557.4M -$1,585.3M -2.4%

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

    $419K

    Dec '24

  • New Home

    $584K

    Dec '24
Home Closings

Existing Home

New Home

Source: SalesTraq

  • Existing Home

    654

    Dec '24

  • New Home

    230

    Dec '24
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.