Zip Code 89031

North Las Vegas, NVClark County

Real Estate Market Analysis

Q3 2025 Report
$415,312 (up 3.7% YoY as of March 2025)
Median Home Value
~65,000 (estimate for 2025)
Population
$72,000 (household)
Median Income
Average (C+ to B-)
School District Rating

Market Statistics

Property Values

$415,312 (up 3.7% YoY as of March 2025)
Median Home Value
Approx. $2,000/month (estimate based on market trends)
Median Rent
$235–$240
Price per Sq Ft

Market Performance

Home Appreciation+3.2% to +3.7% YoY (2024–2025)
Market VelocityHomes go pending in ~34 days; seller's market, homes sell quickly[1][3]
Foreclosure RateLow (no significant increase reported)

Area Information

Area SizeApproximately 8.5 square miles
CountyClark
Primary CityNorth Las Vegas

Housing Profile

Housing Statistics

Total Housing UnitsApprox. 20,000 (estimate)
Owner Occupied~65%
Rental Properties~35%
Vacant Units~5%
New ConstructionActive, with new builds by D.R. Horton and others[1]

Housing Types

Single-family detachedTownhomesCondos

Demographics

~65,000 (estimate for 2025)
Population
34
Median Age
$72,000 (household)
Median Income
~95% (unemployment ~5%)
Employment Rate
High school diploma or higher: 85%; Bachelor's degree or higher: 22%
Education Levels
Predominantly families with children; diverse, with strong Hispanic and African American communities
Family Composition

Education Quality

School District Performance

Average (C+ to B-)
District Rating
School DistrictClark County School District
Test ScoresSlightly below state average
Graduation Rates~82%

Schools in Area

  • Raul Elizondo Elementary
  • Theron Swainston Middle School
  • Cheyenne High School

Economic Factors

Employment & Business

Job GrowthSteady, +2% YoY
Unemployment Rate~5%
Business EnvironmentGrowing logistics, retail, and service sectors
Commercial ActivityActive, with new retail and logistics developments

Major Employers

  • Amazon Fulfillment Center
  • Nellis Air Force Base
  • Clark County School District
  • Walmart Distribution

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • I-215 Beltway
  • US-95
  • RTC Southern Nevada bus routes

Utilities & Services

  • NV Energy (electric)
  • Southwest Gas
  • Las Vegas Valley Water District

Quality of Life

Safety & Environment

Moderate; property crime slightly above national average, violent crime near average

Good air quality, low pollution

Healthcare Access

  • North Vista Hospital
  • VA Southern Nevada Healthcare System

Development Trends

Planned Developments

  • New single-family subdivisions
  • Retail centers near Craig Ranch Park

Infrastructure Projects

  • Road widening on Craig Rd and Decatur Blvd

Investment Outlook

Growth Outlook

Positive, with continued population and housing growth

Investment Opportunities

  • Single-family rentals
  • New construction sales
  • Value-add renovations

Marketing Intelligence

Target Demographics

  • First-time buyers
  • Young families
  • Military/VA buyers
  • Investors

Competitive Advantages

  • Lower prices than Summerlin/Henderson
  • Proximity to major employers
  • Newer housing stock

Pricing Strategies

Competitive pricing just below Las Vegas median; offer closing cost incentives

Common Objections & Response Strategies

Objection: Concerns about school quality

Response Strategy:

Highlight recent improvements, after-school programs, and proximity to charter/private options.

Objection: Perception of higher crime

Response Strategy:

Provide up-to-date local crime stats, neighborhood watch info, and highlight community policing efforts.

Objection: Preference for Las Vegas proper

Response Strategy:

Emphasize affordability, newer homes, and shorter commutes to major employers.

Professional Recommendations

1

Leverage new construction inventory and builder incentives.

2

Target military and VA buyers with specialized programs.

3

Educate buyers on local school and safety improvements.

4

Promote rental investment opportunities with strong yields.

5

Stay informed on zoning and infrastructure changes for future appreciation.

Competitive Analysis

Comparable Markets

  • 89084 (Aliante)
  • 89032 (North Las Vegas)
  • 89131 (Las Vegas)

Market Positioning

Affordable, family-oriented, growth market

Competitive Advantages

  • Lower entry price
  • Newer homes
  • Strong rental market

Price Comparison

~10–15% lower than Summerlin and Henderson; similar to other North Las Vegas zips

Investment Metrics

5.5%–6.5% (single-family rentals)
Cap Rates
~6% gross yield
Rental Yields
~17–18
Price-to-Rent
Positive for well-priced rentals
Cash Flow
3–4% annual through 2026
Appreciation

Buyer Journey Insights

First-Time Buyers

Attracted by affordability, down payment assistance, and new builds; need education on process.

Move-Up Buyers

Seeking larger homes/newer amenities; motivated by equity gains.

Downsizers

Limited inventory, but some single-story options; value low maintenance.

Investors

Strong rental demand, good cap rates, value in new construction.

Relocators

Drawn by job growth, military proximity, and lower cost of living.

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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