Double-digit growth continues
Las Vegas-Paradise, NV Metro Area
By Daphne Garland-McLean -- Casual Living, 7/1/2008 12:00:00 AM
With abundant sunshine and very little rainfall, the Las Vegas metro area is conducive to outdoor activities nearly year-round. Over the next five years outdoor furniture sales should grow there by 35% and grill sales by 31% according to estimates by New York-based Easy Analytic Software, Inc.
The largest and most populous city in Nevada, Las Vegas is located in Clark County and surrounded by stunning mountain ranges in the basin of the Mojave Desert. It is known for its very hot summers and mild winters.
A major resort city for the gaming industry, Las Vegas provides some of the nation’s most exciting entertainment experiences. Recognized for its dramatic themed hotels, restaurants and casinos, the cityscape has become an often used setting for many television shows and films. While a lot of these attractions are located on the Las Vegas Strip, some would be surprised to know that the Strip is not actually located in the Las Vegas city limits but is, in fact, located mostly in nearby Paradise, Nev. — a small township south of Las Vegas. With such brilliant and lively attractions, including those only a short drive away such as the Hoover Dam, Las Vegas is one of the world’s favorite tourist destinations.
Population growth continues in this city despite recent real estate depreciation. The median value of homes is still a modest $187,926 according to EASI data. The population is expected to grow to roughly 2.1 million between 2007 and 2012, an 18% increase. Cemented by the introduction of the World Market Center Complex, the area is expected to continue to thrive in retail as well as have double-digit growth in income and spending for casual furnishings over the next five years.
Spending for casual living products
in millions
| 2007 | 2012 | Change | |
| Outdoor dining sets | $10.27 | $13.90 | 35.4% |
| Other outdoor furniture | $5.13 | $6.95 | 35.4% |
| Grills | $19.09 | $24.97 | 30.8% |
Housing characteristics
| 2007 | 2012 | Change | |
| Total housing units | 764,519 | 929,038 | 21.5% |
| Number owner-occupied | 424,533 | 519,887 | 22.5% |
| Median value of owner households | $187,926 | $244,532 | 30.1% |
| Median rent | $987 | $1,261 | 27.8% |
Households by race & ethnicity
| 2007 | 2012 | Change | |
|
Hispanics may be of any race
|
|||
| White | 505,479 | 581,153 | 15.0% |
| African-American | 64,972 | 87,344 | 34.4% |
| Asian-American | 40,887 | 55,643 | 36.1% |
| Other | 80,547 | 111,210 | 38.1% |
| Hispanic | 122,040 | 164,515 | 34.8% |
| White, Non-Hispanic | 425,004 | 474,097 | 11.6% |
Household income
| 2007 | 2012 | Change | |
|
Source: Easy Analytic Software, Inc. and Casual Living market research
|
|||
| Median | $52,405 | $68,091 | 29.9% |
| Under $25,000 | 140,071 | 116,499 | -16.8% |
| $25,000 - $34,999 | 78,048 | 68,321 | -12.5% |
| $35,000 - $49,999 | 113,636 | 110,639 | -2.6% |
| $50,000 - $74,999 | 147,455 | 168,892 | 14.5% |
| $75,000 or more | 212,675 | 370,999 | 74.4% |
Las Vegas-Paradise, NV metro area
| 2007 | 2012 | Change | |
| Total population | 1,811,278 | 2,137,764 | 18.0% |
| Median age | 34.4 | 34.9 | |
| Average household size | 2.59 | 2.53 |
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