LAS VEGAS, NV – In an attempt to address the ongoing housing crisis that is plaguing the Las Vegas Valley, it has been announced that a developer will be converting the former Cashman Center property – as well as the neighboring Grant Sawyer Nevada State Office Building, located near the downtown area – into over 1,000 new single-family homes.

The project, proposed by Lennar Corp. subsidiary Greystone Nevada LLC, was approved by the Las Vegas City Council on Wednesday, with development agreements officially to be formalized that will govern the project.

Councilwoman Shondra Summers-Armstrong said that she is 100 percent behind the project, as affordable housing options in Las Vegas are currently not at the level they need to be to accommodate lower-income families.

Summers-Armstrong noted that she was “demanding” while dealing with Lennar Corp. leading up to Wednesday’s vote, because the constituents of her district – Ward 5, with the proposed project being located at Washington Avenue and North Las Vegas Boulevard – deserve it.

We know that we need housing desperately, especially affordable and attainable housing within our community,” she said. “I was demanding as I am, because I really want our community, those folks who need this type of housing, to not get just any old thing.”

Lennar Corp. plans to build 781 homes at the site of the Cashman Center – located at 850 North Las Vegas Boulevard – and an additional 290 at the location of the Grant Sawyer building, at 555 East Washington Avenue.

Lennar Corp. originally won an auction in 2025 to purchase the 50-acre Cashman property for $36.25 million, later acquiring the 22-acre Grant Sawyer property from the state for $10.6 million.

A construction timeline has currently not yet been set, but the developments – after the existing structures have been demolished – will consist of three-story attached and detached homes with amenities that will include pools and a trail.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Chicago-based developer CEDARst Cos. has officially broken ground on a new $82 million multifamily community located in the Las Vegas Medical District, the first residential facility of its kind to be built in that area of the city.

Upon completion, The Presley will take the form of a 275,000-square-foot, 236-unit, seven-story apartment complex, with development fueled in-part via a $56 million North River Partners construction loan. The architect on the project is Booth Hansen and the general contractor is OS Construction.

Located on a on 1.12-acre plot of land at the intersection of Alta and South Tonopah drives, The Presley will be comprised of both studios and one-and two-bedroom apartments, with a percentage of the complex’s overall units – the current number is not currently known – to be designated for affordable housing.

There will be a number of amenities made available for tenants, including a fitness center, a coworking lounge, a golf simulator and a rooftop pool deck overlooking the surrounding cityscape.

The Presley will be the first apartment complex built in the Las Vegas Medical District, addressing a very real and growing need for housing options in that section of the city.

According to a statement released by CEDARst Cos. CEO & Managing Partner Will Murphy, The Presley represents the start of the overall evolution of the Medical District, which has seen large recent investments in clinical, academic and research facilities, making it one of the fastest-growing local economies in the Las Vegas Valley.

The Presley will be CEDARst’s second property in Las Vegas, with the firm also actively developing another residential facility in the form of The Myles, which is a 311-unit complex in the Las Vegas Arts District due to open in spring of 2026.

Development of The Presley is also slated to be completed by spring of 2026.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Amid the housing shortages that are plaguing Southern Nevada in recent years due to a lack of real estate to build upon, there is a growing number of developers who are vocally favoring the concept of focusing more on building Las Vegas “up” as opposed to “out.”

An emphasis on erecting more high-rise apartment and condominium buildings – as opposed to single-family homes – is being touted by some real estate stakeholders as a means to help Vegas alleviate its current issues with affordable housing as more and more people move in and its economy expands.

Among those in favor of Vegas building “up” is Brian Nugent – a real estate broker with IS Luxury – who noted the addition of more apartment and condo complexes could help families to afford places to live in the city.

As there is less and less land available for single-family detached homes, I think high-rises become more and more appealing,” he said. “So, I think there could be a need moving forward for more high-rises.”

Currently, the federal government owns about 88 percent of the land in Clark County alone, with over half of that property – 2.6 million acres – managed by the Bureau of Land Management (BLM). The failure to release parts of that land for development has contributed to the current housing crisis being experienced in the region, experts say.

BLM has been slow to release land for development to the private sector, and current estimates indicate that if that doesn’t change soon, the Las Vegas Valley could run out of buildable land by 2032, according to the economic consulting firm Applied Analysis.

Up until recently there has been land available in the valley and because Vegas has grown so much recently as a city and its population, it really just seems like in the last few years the conversation about running out of land has really picked up,” Nugent said. “Where in the past it was easy for developers to buy plots of land and do detached single-family home developments, because the land was readily available and I think as more and more of that land gets developed and less is available then the next logical question would be is it time to start going vertical?”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – A new luxury rental apartment complex is now in the early stages of development just south of the famed Las Vegas Strip, with two real estate firms located in the midwestern United States teaming up to make the project a reality.

The Cleveland, Ohio-based NRP Group – one of the nation’s top multifamily real estate developers, general contractors, and property management firms, according to the firm’s website – and Chicago, Illinois-based Waterton, a real estate investment and property management company with a focus on multifamily and hospitality properties, issued an announcement in October that they will be developing a 368-unit luxury apartment complex called South Valley.

Construction on the apartment complex – located at Las Vegas Boulevard and Erie Avenue, between the South Point and the M Resort and situated approximately 15 minutes south of the Las Vegas Strip – is slated to start “imminently,” with the first units expected to be ready for their respective tenants to move in during the middle of 2027, the two companies stated in a recent press release.

The project will take the form of two four-story buildings boasting numerous posh communal amenities, including outdoor seating areas with fire pits and a “well-appointed” club lounge, according to the developers.

In addition, the apartments themselves will spare no expense when it comes to luxury bells and whistles, including quartz countertops and subway-tile backsplashes in their kitchens.

This is not the first foray into the Southern Nevada real estate scene for either of these firms. Waterton has previously bought apartment buildings in the Las Vegas Valley, and NRP Group is currently in the midst of constructing several apartment projects in the region, including a luxury building in the southwest valley, a rental complex on Silverado Ranch Boulevard, and a North Las Vegas-based affordable housing complex.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – As more and more construction projects are completed in an effort to address Las Vegas’ affordable housing crisis, apartment rents in Southern Nevada have dropped significantly, with a new report indicating a recent decrease of over four percent from 2024.

According to RealPage Market Analytics, apartment rents in September had plunged 4.1 percent year-over-year, which is quite a bit higher than the national average of 0.3 percent.

In the third quarter of 2025, the average rent of multifamily housing units in Las Vegas reached $1,451 per month; renters in the market have typically favored Class B and newer Class C properties for their cost-effectiveness due to affordability concerns.

Meanwhile, demand for apartments in Las Vegas continues to be fueled by its strong labor market and the steady influx of transplanted residents from outside of Nevada that it continues to attract.  

Large decreases in rent weren’t confined to Las Vegas, but instead was part of a broader West Coast phenomenon, where major metropolitan areas throughout that region noted the largest overall drops in the country in September. RealPage stated in their report that the cause was tied mostly to the market adjusting to national economic trends while absorbing new housing supply.

Las Vegas had previously been considered partially immune to national recession symptoms due to its economy being strongly propped up by its normally robust year-round tourism industry. However, Vegas has been recently experiencing a downturn in that regard as fewer people are traveling and spending money amid spiking inflation and the currently uncertain economic conditions in the country.

But despite the higher-than-average rent cuts in Vegas, they are not nearly at their highest points yet in recently recorded history; year-over-year drops reached 4.6 percent during the COVID-19 pandemic, and a whopping 10 percent in 2010 after the Great Recession hit.

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NY – When choosing where to settle in the Las Vegas Valley, two names often stand out: Summerlin and Henderson. Both communities are among the most desirable places to live in Southern Nevada, attracting families, professionals, and retirees. Each area has its unique strengths, from well-planned neighborhoods and top-rated schools to lifestyle amenities and real estate options.

For anyone relocating to Las Vegas in 2025, understanding the differences between Summerlin and Henderson is key. With guidance from agents at Shelter Realty Property Management, you can explore a detailed comparison of home prices, amenities, schools, rental lifestyle, and community events to help you decide which area aligns best with your needs.

Overview of Summerlin and Henderson

Summerlin and Henderson are two premier communities in the Las Vegas Valley. Summerlin offers luxury living, scenic views, and a vibrant urban core, while Henderson provides diverse housing, family-friendly neighborhoods, and easy access to Lake Mead and urban conveniences.

Summerlin at a Glance

Summerlin is a master-planned community located along the western edge of Las Vegas, nestled against Red Rock Canyon. Known for its scenic views, golf courses, and vibrant downtown district, Summerlin offers a suburban lifestyle with modern conveniences. The community is divided into villages, each with distinct architectural styles and amenities.

Henderson at a Glance

Henderson lies southeast of the Las Vegas Strip and is Nevada’s second-largest city. It combines urban conveniences with suburban neighborhoods, offering easy access to Lake Mead, shopping districts, and family-friendly parks. Henderson’s size makes it diverse, with upscale master-planned communities like Green Valley Ranch and Inspirada, as well as more affordable housing options.

Real Estate Market Comparison in 2025

One of the most important factors for relocators is real estate. Both Summerlin and Henderson offer a mix of luxury homes, family residences, and rental opportunities. However, the pricing trends, inventory, and lifestyle differences shape buyer and renter decisions, with professional property management in Henderson NV ensuring that both investors and residents benefit from well-maintained and efficiently managed housing options..

Rental Market

Rental costs in Summerlin average between $1,800 and $3,000 per month, particularly for homes near Downtown Summerlin or golf communities. Henderson, by comparison, offers more affordable rentals between $1,600 and $2,600 monthly, with larger homes often available at competitive rates.

Key Insight

Summerlin tends to have higher price points, largely due to its exclusivity, new developments, and demand for lifestyle amenities. Henderson provides a wider spectrum of affordability, appealing to both first-time buyers and families upgrading to larger homes.

Lifestyle and Amenities

Summerlin and Henderson both offer outstanding lifestyle amenities. Summerlin is known for its trails, golf courses, and Downtown Summerlin’s shopping and dining, while Henderson highlights family-friendly parks, community centers, and proximity to Lake Mead for outdoor recreation and leisure activities.

Summerlin Amenities

Summerlin is often considered the benchmark for master-planned communities in Las Vegas. Highlights include more than 150 miles of trails for walking, biking, and running, multiple golf courses such as TPC Summerlin, Downtown Summerlin for shopping and dining, and proximity to Red Rock Canyon for outdoor enthusiasts.

Henderson Amenities

Henderson’s amenities reflect its balance between suburban and urban life. The city is home to parks and outdoor spaces like Cornerstone Park and the Henderson Bird Viewing Preserve. It also offers quick access to Lake Mead and Hoover Dam, a premier shopping hub at The District at Green Valley Ranch, and family-oriented recreational centers and sports complexes.

Schools and Education

Summerlin and Henderson both provide excellent education options within the Clark County School District. Summerlin features top-rated public, charter, and private schools, while Henderson is often praised for strong public schools, charter academies, and private institutions supporting family-focused learning environments.

Families relocating often prioritize education. Both Henderson and Summerlin offer strong schooling options.

Summerlin Schools

Summerlin is served by the Clark County School District (CCSD) and includes several top-performing public schools. Families also have access to charter and private institutions, such as Bishop Gorman High School. Summerlin schools are well known for academics, arts, and athletics, making them appealing for diverse educational needs.

Henderson Schools

Henderson schools also operate under CCSD and are often recognized for higher performance compared to other parts of Las Vegas. Charter schools like Pinecrest Academy and private schools such as Henderson International School provide families with additional quality options. Many neighborhoods are built with schools at their core, reinforcing Henderson’s family-friendly reputation.

Community Events and Lifestyle Culture

Summerlin fosters a vibrant lifestyle with farmers markets, outdoor concerts, and sports at Las Vegas Ballpark. Henderson emphasizes family traditions with events like WinterFest, performances at the Henderson Pavilion, and recreational activities near Lake Mead, creating strong community connections for residents.

Summerlin Community Culture

Summerlin thrives on community-driven events. Residents can enjoy seasonal farmers markets, cultural festivals, and concerts in the park. The Las Vegas Ballpark, home to the Aviators minor league baseball team, also serves as a centerpiece for entertainment and local pride.

Henderson Community Culture

Henderson places a strong emphasis on recreational and family-focused activities. The Henderson Pavilion hosts concerts and live performances, while events such as WinterFest celebrate seasonal traditions. Outdoor enthusiasts also benefit from the city’s proximity to Lake Mead for boating, hiking, and other adventures.

Comparative Analysis for Relocators

For relocators, Summerlin appeals to those seeking luxury living, strong schools, and access to Red Rock Canyon, though at higher housing costs. Henderson offers greater affordability, diverse neighborhoods, and family-friendly amenities, making it ideal for first-time buyers, growing families, and retirees.

For Families

Summerlin offers strong schooling and abundant parks, though housing comes at a premium. Henderson provides more affordable housing while still offering excellent schools and family-friendly amenities.

For Professionals

Summerlin provides easy access to the Strip and office hubs via Summerlin Parkway, along with coworking spaces. Henderson benefits from proximity to McCarran International Airport and major business corridors along I-215.

For Retirees

Summerlin offers luxurious retirement communities with golf and wellness facilities. Henderson provides quieter, affordable retirement neighborhoods with easy access to healthcare facilities and recreational outlets.

Frequently Asked Questions

• Is Summerlin more expensive than Henderson? Yes. Summerlin generally carries higher property values due to its location, master planning, and luxury amenities.

• Which area has better schools, Summerlin or Henderson? Both areas perform well, but Henderson schools are often rated slightly higher within CCSD rankings, while Summerlin offers a strong mix of private and charter options.

• Where is rental housing more affordable? Henderson typically offers more affordable rental options compared to Summerlin, particularly for larger family homes.

• Which community is closer to outdoor recreation? Summerlin borders Red Rock Canyon, making it ideal for hiking and nature lovers. Henderson offers access to Lake Mead for water sports and outdoor activities.

• Is Henderson safer than Summerlin? Both communities rank among the safest in the Las Vegas Valley, with well-managed neighborhoods and local police presence.

Choosing between living in Summerlin vs Henderson in 2025 depends on your lifestyle, priorities, and budget. Summerlin appeals to those seeking exclusivity, luxury homes, and proximity to Red Rock Canyon. Henderson, meanwhile, provides affordability, strong schools, and family-friendly neighborhoods with access to Lake Mead.

Both communities offer high quality of life, making them top destinations for relocators moving to the Las Vegas Valley. For personalized guidance on buying, selling, or renting in either area, contact Shelter Realty Property Management today to explore your options with a trusted local expert.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Illustrating how rising prices in the United States are impacting the average family, a new study by the University of Nevada, Las Vegas’ Lied Center for Real Estate notes that homebuyers in Las Vegas need to be earning an annual salary of at least $119,000 in order to afford a home in the region’s current median price range, which is in the neighborhood of $400,000.

We compare the cost of single-family housing with wage data across 627 occupations to assess Southern Nevada’s paycheck-to-mortgage gap,” the study’s summary states. “With a median monthly housing cost of $2,975, a household must earn $119,012 annually to afford a median-priced home.”

The current median household income in Las Vegas is $80,028, according to the Lied Center.

The study singles out members of Las Vegas’ leisure and hospitality workers are being especially hard-hit by the high cost of housing.

To meet this mortgage threshold, a single-income household must earn an hourly wage of $57.22. However, only 6.1 percent of all occupations in Las Vegas pay at or above this amount,” Lied Center researchers say. “For a dual-income household, each earner must make at least $28.61 per hour, a wage achieved by only 46.6 percent of local occupations. The situation is especially dire for minimum-wage workers: a single-income household would need to work 191 hours per week, an impossible requirement given that there are only 168 hours in a week. For a dual-minimum wage household, each person would need to work 95.5 hours per week, the equivalent of nearly 2.5 jobs”

The study goes on to say that the lack of affordable housing options in Las Vegas could eventually interfere with the city’s currently strong business and economic growth.

This widening affordability gap may threaten Southern Nevada’s long-term economic development goals,” the study says. “Despite the region’s business-friendly environment, strategic location, and favorable tax structure, companies may hesitate to relocate or expand if local housing options remain economically out of reach for much of the workforce.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Cleveland-based apartment developer NRP Group has announced that they are actively working on several projects in the Las Vegas Valley – including both affordable-housing and luxury complexes – in an effort, they say, to address ongoing housing shortages in Southern Nevada.

According to NRP Vice President of Development Mike Moriarty, while there are upscale projects on his company’s table, they are especially focusing on the current lack of nearly 78,000 affordable and available rental homes for extremely low-income tenants in Vegas.

“There’s an extreme lack of affordable units here,” Moriarty said, a life-long Las Vegas resident who will be personally overseeing the company’s developments here.

The first two NRP projects are scheduled to break ground later this month; one will take the form of an upscale 390-unit complex in the southwest valley between Durango Drive and Cimarron Road, and other will be a 105-unit affordable housing project in North Las Vegas on Pecos Road.

Emphasis is being placed on not just what NRP is developing, but where; the upscale southwest valley project is on a 7.8-acre plot of land next to UnCommons, a huge mixed-use facility with apartments, offices, restaurants, and entertainment options, as well as being near the Durango hotel and casino, ensuring that residents will have plenty to do during their off-time.

Rental rates would be $2.50 to $2.60 per square foot, and there will be a number of high-end finishes and amenities for tenants, including indoor bicycle storage with a repair station, an indoor pet wash, and more.

As for the North Las Vegas project, the affordable housing complex – dubbed North & Valley – will be offering units to residents earning between 50 and 60 percent of the Area Median Income (AMI), and will take the form of two four-story buildings with a mix of one, two, and three-bedroom residences.

The first units of these projects are slated to be available to rent by the first quarter of 2026.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – To address the housing crisis that is currently ongoing in Las Vegas, the Southern Nevada Home Builders Association (SNHBA) announced that petitioning the government to release more federally-controlled land for development would be the group’s main priority in 2025, a goal that’s looking now more than ever closer to becoming a reality.

SNHBA CEO Tina Frias last week said that her organization has been working with the office of Nevada Senator Catherine Cortez Masto on bipartisan efforts to make 25,000 acres of federal land available to Clark County for the development of both affordable housing as well as growing local business interests. In addition, an additional 2 million acres will be set aside for conservation.

Along with the above-mentioned acreage being made available, Frias expressed hope that additional land will be released in the near future as well.

From the folks that have been involved in federal lands in the state for 30-plus years and are part of my membership, they said this is the most momentum they have seen on a lands package ever,” she said. “I’ll tell you in my opinion I’m both excited but also nervous because I think we will see something come to fruition.”

One of the primary reasons for the housing crisis in Southern Nevada, according to a growing number of those in the real estate industry, is due to the Bureau of Land Management (BLM), with the federal agency currently managing nearly three million acres in Clark County; the U.S. government currently owns 80 percent of the land in the state of Nevada overall – the most out of any state in the country – and 88 percent of Clark County.

In 1998, the Southern Nevada Public Land Management Act was passed that set aside approximately 67,000 acres out of the 2.9 million available in the Las Vegas Valley for development of residential housing units or commercial uses, with an additional 33,000 acres that have also been earmarked for potential developing that have not yet been released.

Frias also referred to a proposal by the Trump Administration to give a joint task force the ability to identify and release lands in the state for development, but said that the process involved can be very convoluted and slow; as a result, she’s hoping for an act of Congress – in addition to the continued efforts of local government – to streamline and speed-up things.

We need to recognize there’s an elephant in the room and that’s the land constraints,” Frias said. “That’s going to take coming together at the federal level and working collaboratively with our delegation. That will take continued leadership from the governor’s office and local government will play a key role in that as well.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – After several months in a row of ebbing and flowing and coming precariously close, Las Vegas home prices in January finally set a new all-time record for the region.

According to a new report by industry group Las Vegas REALTORS, the median price of an existing single-family home in Las Vegas reached $485,000 in January; this represents a whopping $10,000 increase over the previous month’s price and a jump of nine percent year-over-year.

The previous record high in Vegas was $482,000, set back in May 2022.

Brian Gordon, Principal with Applied Analysis, said that following a degree of stagnation in the local home market that saw inventory rise, recent renewed demand driven by an influx of out-of-state transplants – and a subsequent increase in sales – led to January’s significant jump in housing costs.

Prices have continued to rise. We’ve seen a decent amount of home sales take place over the last month,” Gordon said. “The demand side of the equation has continued. We continue to see people migrating in. We’re seeing people move in from California and other markets that are demanding housing.”

However, increased demand isn’t the only driving force behind rising home values; Gordon also noted that the costs associated with building homes have also been going up as of late.

The cost of land that’s ultimately required. The cost of building materials or labor,” he said. “All of that sort of factors into prices on the new home construction side and that tends to ripple through the real estate market. I think the resale market is also seeing some of that upward pressure on pricing as demand continues to persist.”

But, while this may create unfortunate barriers to affordable housing for some, the good news is that Vegas residents fortunate enough to already own a residence are enjoying a sizable jump in the equity that their home has been building up over the years.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – A proposal implemented by the former Biden Administration’s Federal Communications Commission (FCC) that would have banned mandatory bulk billing arrangements for internet services in apartment buildings – allowing tenants to opt-out of their landlord’s Internet Service Provider (ISP) choice in favor of their own – has been withdrawn by the Trump Administration, effective immediately.

Originally in March 2024, former FCC Chairwoman Jessica Rosenworcel had put forward the proposal that would have mandated tenants not be required to pay for specific internet services by their landlords in an effort to increase consumer choice in the broadband market.

The ban would not have been sweeping or all-encompassing; instead, it was meant to increase competition in the market by simply allowing tenants in apartments, condominiums and public housing to opt-out of arrangements and seek out their own ISP, potentially allowing them to find more affordable internet access plans.

At the time, the proposal encountered a high degree of blowback on the part of the internet service providers and the multifamily community, and to date had not yet come to a vote.

However, new FCC Chairman Brendan Carr – appointed to the position by President Donald Trump – has withdrawn Rosenworcel’s proposal from the FCC’s consideration. When queried about his decision, Carr said that bulk billing arrangements can actually result in making high-speed internet more accessible and affordable to consumers, especially elderly people living in affordable housing or low-income renters.

Experts note that ISP costs when using bulk billing can potentially be up to 50 percent lower for tenants who use it; in addition, barriers such as credit checks and installation fees are often removed from the equation as well.

In contrast, opponents of bulk billing arrangements say they stifle competition in the market; in a previous effort to address this, the FCC in 2022 issued a ban on exclusive revenue-sharing agreements between landlords and ISPs in multi-tenant buildings.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Over 150 single-family homes were purchased in the Las Vegas Valley throughout 2024 by a real estate investment firm backed by Wall Street, according to property records.

The Greenwich, Connecticut-based firm in question, Starwood Property Trust, bought 151 homes in the valley in October for a combined $58.2 million, spread out over three separate transactions. The homes are located in several different communities across the valley, including North Las Vegas, Henderson and the southwest and northwest valley.

Starwood Property Trust will be turning most of these valley-based properties into rental units, as the mammoth firm – worth an estimated $6.45 billion – currently owns numerous rental homes throughout the United States.

Kristi DesJarlais, Senior Vice President of Communications and PR for Invitation Homes – the largest owner of single-family rental homes in the United States, owning 84,000 in 16 markets as of July 2024 – confirmed that the Dallas, Texas-based firm would be serving as property manager for an as-yet unknown number of the new homes acquired by Starwood Property Trust late last year.

Previously, in 2023, Starwood sold 264 homes that it owned in the valley to Invitation Homes in a deal worth $98 million.

The acquisitions by Starwood Property Trust are part of an ongoing phenomenon where hedge funds and corporate landlords backed by Wall Street – in addition to affluent investors – have been responsible for a rash of purchases of single-family homes across the country in recent years that they then typically utilize as rental properties. However, experts say this has been contributing to a shortage of affordable housing for families, in addition to being responsible for a rise in rental rates as well.

At this rate, according to a study by MetLife Investment Management, by 2030 approximately 40 percent of all houses in the United States could be owned by Wall Street corporations.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.