Double-digit growth continues

Las Vegas-Paradise, NV Metro Area

By Daphne Garland-McLean -- Casual Living, 7/1/2008

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
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%
Hispanics may be of any race

Household income

	2007	2012	Change
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%
Source: Easy Analytic Software, Inc. and Casual Living market research