City of Las Vegas

Community Dashboard

City of Las Vegas Monthly Economic Update

City of Las Vegas Employment

  • Employment

    Jul '24

  • 311,056

Unemployment Rate Comparison

  • Unemployment Rate

    Jul '24

  • 6.7%

Source: Bureau of Labor Statistics - Local Area Unemployment Statistics

Clark County Taxable Retail Sales

  Trailing 12-Months
  Jun '23 Jun '24 Net Change % Change
Taxable Retail 100.0% $64,194.2M $66,080.2M $1,886.0M 2.9%
Food Services and Drinking Places 19.8% $12,639.5M $13,111.6M $472.1M 3.7%
Motor Vehicle and Parts Dealers 10.4% $6,711.9M $6,875.9M $164.0M 2.4%
Merchant Wholesalers, Durable Goods 7.0% $4,548.2M $4,611.7M $63.5M 1.4%
General Merchandise Stores 6.7% $4,371.9M $4,397.3M $25.4M 0.6%
Clothing and Clothing Accessories Stores 6.7% $4,418.4M $4,449.9M $31.5M 0.7%
Building Material and Garden Equipment & Supplies 3.9% $2,769.6M $2,604.9M -$164.7M -5.9%
Miscellaneous Store Retailers 2.9% $1,936.5M $1,884.6M -$51.9M -2.7%
Rental and Leasing Services 2.8% $1,805.5M $1,843.4M $37.9M 2.1%
Food and Beverage Stores 2.7% $1,702.7M $1,784.1M $81.4M 4.8%
Professional, Scientific, and Technical Services 2.1% $1,380.8M $1,387.3M $6.5M 0.5%

Source: Nevada Department of Taxation

Commercial Real Estate Market

Office Market

Q4 '23

Vacancy Rate

13.7%

  • -0.6% vs. Prior Yr.
  • -0.2% vs. Prior Qtr.

Lease Rate

$2.16

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

Q4 '23

Vacancy Rate

5.4%

  • -0.4% vs. Prior Yr.
  • 0.2% vs. Prior Qtr.

Lease Rate

$1.99

  • 5.1% vs. Prior Yr.
  • 0.9% vs. Prior Qtr.
Industrial Market

Q4 '23

Vacancy Rate

4.8%

  • -0.5% vs. Prior Yr.
  • -0.4% vs. Prior Qtr.

Lease Rate

$0.78

  • -0.5% vs. Prior Yr.
  • -0.6% 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

    $126M

    May '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.