Are you deciding between investing in Summerlin or Henderson? You’re not alone. Many people struggle with this decision. Both areas in the Las Vegas Valley offer unique benefits and challenges for investors.
On the western edge, Summerlin boasts upscale amenities, master-planned communities, and easy access to Red Rock Canyon. In contrast, Henderson, the second largest city in Nevada, offers a small-town feel with diverse neighborhoods and outdoor activities near Lake Mead.
In this article, we’ll compare these areas to help you make an informed choice. This guide will provide insights to help you decide.
Investing in Summerlin
Summerlin is known for its family-friendly environment and luxurious amenities. Located about 20 minutes east of the Las Vegas Strip, Summerlin is easily accessible via I-215 or major Las Vegas streets.
The appeal of master-planned communities, such as this one, is enhanced by its well-planned structure, which includes parks, golf courses, and shopping centers, making it an attractive investment opportunity.
Property Values and Trends in Summerlin
Property values in Summerlin have been on a steady rise due to increased demand and limited supply. Last month, the median sale price of a home in Summerlin was $603K, showing a 10.1% increase from the previous year. The median sale price per square foot is $334, up 13.4% from the prior year. Homes in Summerlin typically sell in about 32 days, indicating a somewhat competitive market.
Ongoing appreciation renders Summerlin a profitable market for property investors.
Types of Properties Available in Summerlin
Summerlin offers a variety of investment options, including:
- Single-family homes
- Luxury homes
- Condos
- Townhouses
Both newly constructed properties and older homes are available, providing diverse investment opportunities. Such variety allows investors to select properties aligning best with their investment strategy and target market.
Rental Market in Summerlin
The rental market in Summerlin is characterized by:
- High demand
- Steady rental income, particularly for high-end properties
- High occupancy rates
- Potential substantial rental returns
This stability renders Summerlin a favorable location for investors seeking consistent rental income.
Investing in Henderson
Located just southeast of the Las Vegas Strip, Henderson is a city neighboring Las Vegas. It is close to the famous Strip. It takes about 15 to 20 minutes to reach the Strip, Harry Reid International Airport, and downtown Las Vegas from Henderson.
Due to its affordability, the city’s real estate market presents opportunities for single-family rental purchases and buy-and-hold investments.
Property Values and Trends in Henderson
As of mid-2024, the median home price in Henderson is approximately $495,000, reflecting a 7.6% increase compared to the previous year. The average home value is $484,265, marking a 5.5% rise year-over-year.
Homes in Henderson are selling faster, with an average of 57 days on the market as of January 2024.
Types of Properties Available in Henderson
Henderson offers a variety of properties, including single-family homes, condos, and townhouses. In February 2024, there was a notable increase in the inventory of 3-bedroom homes, with numbers rising by 14.6%.
This range of properties gives investors ample choices that align with their investment objectives.
Rental Market in Henderson
Based on the data for the recent month, the median rent in Henderson is $1,470. Local employment rates and economic conditions influence the demand for rentals. Henderson’s diverse economy and numerous amenities make it an attractive location for long-term family rentals, offering the potential for a good ROI.
Community and Lifestyle Impact on Investments
Property investments are significantly influenced by community and lifestyle factors. Here are some key differences between Henderson and Summerlin:
- Summerlin is a master-planned community known for its affluence and high quality of life.
- Henderson is the second-largest city in Nevada, revered for its safe neighborhoods and family-friendly amenities.
- Henderson and Summerlin differ in their status as separate entities, with Henderson being a distinct city and Summerlin being a community within Las Vegas. This distinction sets them apart in terms of governance and local administration.
Quality of Life in Summerlin
The quality of life in Summerlin is high, characterized by a strong sense of community, well-maintained parks, and top-rated schools. The area has a strong reputation for safety and high-quality living standards, which can attract families and long-term renters.
Residents can access world-class golf courses, exclusive country clubs, and gourmet dining options.
Golf and Country Clubs
The area is renowned for its world-class golf courses and exclusive country clubs, such as TPC Summerlin and the Bear’s Best Golf Club. These facilities offer residents premier golfing experiences and upscale amenities, enhancing the lifestyle of those who enjoy leisure sports.
Dining and Shopping
Residents have access to an array of gourmet dining options, ranging from casual eateries to fine dining restaurants. The Downtown Summerlin shopping center provides a hub for shopping, entertainment, and dining, featuring a mix of well-known retailers and unique local boutiques.
Quality of Life in Henderson
Henderson is recognized for its peaceful neighborhoods, excellent schools, and low crime levels. The city is known for attracting families seeking a safe and calm environment. It offers a balanced mix of amenities, including parks and community events, at a more affordable price.
The community events in Henderson contribute significantly to the quality of life, providing residents with numerous opportunities to engage and connect within their neighborhoods. Annual events such as the WinterFest, the St. Patrick’s Day Parade, and the Henderson Heritage Parade & Festival draw large crowds and foster a strong sense of community.
Schools and Education
Homes in top-rated school districts often command higher prices due to the demand from families seeking quality education for their children. Properties in good school districts tend to appreciate more than those in lower-performing districts.
Schools in Summerlin
Summerlin is served by the Clark County School District, which includes several high-performing public schools. The district consists of 9 public elementary schools, 3 public middle schools, and 2 public high schools. Additionally, Summerlin offers a variety of private school options, including faith-based institutions.
The presence of high-quality schools in Summerlin increases housing demand, thereby pushing up property values.
Schools in Henderson
Henderson is also part of the Clark County School District, known for its range of high-ranking public schools. The city features several prestigious private schools that cater to diverse educational preferences.
Henderson’s schools’ reputation significantly contributes to enhancing the area’s properties’ desirability and value.
Future Development Plans
Future development plans can significantly influence property investments. Both Summerlin and Henderson have exciting developments on the horizon that could enhance their attractiveness to investors.
Planned Developments in Summerlin
Summerlin is set to see several major developments, including a $1.8 billion Sony movie studio backed by Mark Wahlberg. Another one is the 1700 Pavilion. It is a ten-story Class-A office building in Downtown Summerlin that opened in 2023, and is 90 percent leased.
Summerlin’s newest village, Grand Park, will feature a central park surrounded by new neighborhoods with both traditional and modern architecture in the Green Valley area. These developments are expected to enhance the area’s attractiveness, potentially increase property values.
Planned Developments in Henderson
Henderson also sees significant development, such as Cadence, a master-planned community with 13,250 residential units, parks, trails, and an urban core with retail and office spaces. A partnership announced in November 2022 aims to develop a 244-unit multifamily apartment complex.
Additionally, The Waterfalls, a 22-story project near Lake Mead, will feature 110 hotel rooms and 225 apartments. These projects indicate growth in the rental market and an increase in property values.
Working with a Local Real Estate Agent
Working with a local real estate agent and a property manager can greatly benefit investors in Summerlin or Henderson. Experienced luxury agents understand the nuances and expectations of clients in the real estate market. They often provide pocket listings, ensuring discretion and access to exclusive properties not marketed to the general public. Luxury agents act as advisors, helping clients determine investment pros and cons and maximize their budget.
Their connections to professional marketing and staging companies help them market high-end properties effectively. Involvement in professional organizations keeps luxury agents updated on industry trends and enhances their network.
Choosing the Ideal Investment between Summerlin and Henderson
Both Summerlin and Henderson offer compelling real estate investment opportunities. Summerlin is known for its upscale amenities, high property appreciation rates, and strong rental market, making it an attractive option for those looking to invest in a luxurious environment. With its affordability, diverse property options, and steady rental demand, Henderson presents a viable alternative for investors seeking a balanced mix of value and growth potential.
By considering factors such as property appreciation, ROI, risk factors, community lifestyle, schools, and future developments, investors can make an informed decision that aligns with their goals. So, whether you choose Summerlin or Henderson, both areas promise rewarding investment opportunities in the Las Vegas real estate market. When you decide, consider consulting with a professional real estate agent from Faranesh Real Estate and Property Management. Our team can help you with the specifics of each area, ensuring you make the best investment choice. Contact us today to explore your options in Summerlin and Henderson and find the perfect place to call home in the vibrant Las Vegas Valley.
