This Southern Nevada Community Now Has The Highest Median Income

One year ago, Henderson boasted the residents with the highest median income. Now, in the first quarter of 2024, that honor belongs to Southwest Las Vegas and the community of Enterprise.

According to a recent report available on Colliers.com, the median income in Southwest Las Vegas is now $88,423. These figures come from their 2024 first quarter Las Vegas Multifamily Market Research Report.

Last year, Henderson residents’ median income was reported as $92,356, and Southwest Las Vegas came in at $90,531. That’s according to a report by Patrick Blennerhassett on ReviewJournal.com.

So, this year in the first quarter, Southwest Las Vegas overtakes Henderson for highest median incomes. Per the Colliers report, the median income in this Southeast valley community is now $86,682.

Other Southern Nevada communities with high median incomes include Summerlin / The Lakes in third place at $78,395. Northwest Las Vegas ranks fourth at $77,352. Rounding out the top five is Green Valley at $76,244.

Ultimately, the question becomes: Why do certain areas of Southern Nevada have higher median incomes when compared to others?

Blennerhassett’s article on ReviewJournal.com addresses that question by asking experts. In general, Southwest Las Vegas and the unincorporated township of Enterprise have lots of open land available for building new homes and multifamily apartment complexes.

Therefore, that area of Southern Nevada is drawing lots of interest from people moving to the Las Vegas valley. In fact, Blennerhassett reports in his article that Southwest Las Vegas is one of the fastest growing communities in the entire nation.

Additionally, the city governments of Las Vegas, Henderson, and North Las Vegas have no jurisdiction over Enterprise and the southwest valley. So, there aren’t as many building restrictions as possible to combat.

If you’d like to download the entire 2024 first quarter Las Vegas Multifamily Market Research Report to check out all the figures yourself, click here.

Now, feel free to scroll down for more content which may interest you.

Generally, the five highest-earning zip codes in the Las Vegas valley are all located on the west side of town. However, this does not mean that these are necessarily the richest areas in Southern Nevada.

According to an article written by Stacker on 8NewsNow.com, the U.S. Census Bureau recently released their annual report on the zip codes which contained the highest-earning households, and those with the lowest wage earners. Stacker took this information and compiled the list for the Las Vegas-Henderson-Paradise, Nevada metro area.

Here are the neighborhoods which land just outside the top five in Southern Nevada:

The list of highest-earning zip codes was compiled from median household incomes during 2020. Nationally, the median household income dipped that year by almost 3%, mostly due to the COVID-19 pandemic. The median household income went from $69, 560 in 2019 down to $67,521 in 2020.

Those experts who study statistics like this often point to education levels and employment levels in a particular area which lead to having more high wage-earning households. Obviously, those households which earn close to or over the $100,000 mark in household income will attempt to put that money to use by investing in a home. It is not a hard and fast rule, but overall, the more a household earns, the more they will invest in their home. So, from there, we can figure that the highest wage-earning households will gravitate towards the areas and zip codes which contain some of the bigger homes and nicer neighborhoods.

Below,  you will see the list of the top five highest-earning zip codes in the Las Vegas valley.

This zip is located in the far northwest part of Las Vegas in the "Centennial Hills" area. The median household income in this zip was $99,145 with 49.5% of households earning over $100K.

This is a very tiny area in Southwest Las Vegas. The median household income in this area was $99,662 with 49.7% of households earning over $100K.

This is a huge area of land in Northwest Las Vegas surrounding Lone Mountain. The median household income in this zip was $118,269 with 65.6% of the households earning over $100K.

This is a relatively new zip code in the uppermost reaches of North Las Vegas. The median household income in this zip was $120,194 with 61.7% of the households earning over $100K.

The highest-earning zip code in the Las Vegas Valley is located in the northwest portion of the valley. This zip includes some of the North Summerlin area. The median household income was $120,759 with 60.6% of the households earning over $100K.

Larry Martino is the long-time afternoon drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC. Follow us: Facebook / Twitter / Instagram