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- 📶 Rising Rents in Las Vegas Outpace National Trends, UNLV Study Reports
📶 Rising Rents in Las Vegas Outpace National Trends, UNLV Study Reports
Issue #175 - May 30, 2024
John Wu
30 May
Dear SummerSouth Insiders!
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📆 Weekly Local Events for May 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Country Crossroads Dance, Rhythms Dance Studio & Event Center, 4545 W Sahara Ave, Las Vegas: $15 Drop-in Rate / $50 for the whole month: 8 - 9 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
🌤 Summerlin South, Las Vegas Weather
⛽ Las Vegas Gas Prices
📶 Rising Rents in Las Vegas Outpace National Trends, UNLV Study Reports
A new study from the University of Nevada, Las Vegas (UNLV) reveals that the Las Vegas metro area has one of the highest rates of rental burdens in the United States. The study, led by Shawn McCoy, director and associate professor for the Lied Center for Real Estate at UNLV, found that 58.3% of renters in Las Vegas, Henderson, and North Las Vegas are spending more than 30% of their income on rent, classifying them as "housing cost burdened" according to the U.S. Department of Housing and Urban Development.
Statewide, 57.3% of Nevada renters face similar financial strains. The Las Vegas metro area ranks worse than major metro areas like New York-Newark-Jersey City (52.6%) and San Francisco-Oakland-Berkeley (48.9%) in terms of rental cost burdens.
McCoy attributes this high rental burden to a lack of diverse and adequate rental housing supply in Las Vegas. He emphasizes that excessive housing costs can negatively impact mental and physical well-being, increase food insecurity, and lower overall quality of life. The study also highlights that renters are more cost-burdened than homeowners in Nevada.
Additionally, 47.7% of Nevada renters are excessively cost-burdened, paying 35% or more of their income on housing, placing the state second highest in this category after Florida. This issue exacerbates wealth gaps, making it harder for renters to transition to homeownership.
Despite some national trends of declining rental rates in Sun Belt cities, Las Vegas is experiencing rising rents. The median asking rent in Las Vegas is $1,505, compared to the national average of $1,648. Over the past year, rents in Las Vegas have increased by 2.4%.
❎ Your Guide to Voter Registration and Early Voting
Checking Your Voter Registration:
To check your voter registration status, visit the Nevada Secretary of State’s website at www.nvsos.gov/votersearch/.
Early Voting:
Dates: Saturday, May 25 to Friday, June 7.
Details: All early voting sites also serve as mail ballot drop-off locations. Hours and days vary by location and can be subject to change due to unforeseen events.
Updates: For the latest information, visit Clark County Elections or call 702-455-VOTE.
Early Voting and Mail Ballot Drop-off Locations: For a full list, visit Early Voting Sites and Drop-off Locations.
Voting on Election Day:
Date: June 11.
Poll Hours: 7 a.m. to 7 p.m.
Vote Centers: Your sample ballot packet includes a listing of vote centers near you. You can also use the “Vote Center Locator” map tool at Clark County Elections.
Election Day Voting Locations: For a complete list, visit Election Day Voting Locations.
Important Dates:
May 22: Deadline for the start of mailing in-state ballots.
May 23: No sample ballots for newly registered voters (those who register on or after this date will not receive a sample ballot for the current election).
May 25 to June 7: Early voting period.
May 29 to June 11: Registration or updates to registration can only be done online. No sample ballot will be mailed, and you must vote in person.
June 11: Election Day.
June 14, 5 p.m.: Deadline for submitting ID and/or proof of residence for provisional ballots, if needed.
June 15, 5 p.m.: Deadline for receiving mail ballots returned via the post office.
June 17, 5 p.m.: Deadline for curing mail ballot signature issues.
June 21: Deadline for county commission canvass.
June 26: Deadline to demand a recount.
For continuous updates and detailed information, always refer to the official Clark County Election Department website or contact their office directly.
👩🏀 Aces Triumph as A'ja Wilson Leads with Historic Performance
The Las Vegas Aces are embracing the challenge of being back-to-back WNBA champions, with star forward A’ja Wilson leading the way. Wilson spearheaded the Aces to an 80-66 victory over the Minnesota Lynx in their first road game of the season, showcasing her exceptional talent with 29 points, 15 rebounds, three assists, two steals, and four blocks.
Wilson's performance marked her fifth consecutive double-double this season, making her the first player in WNBA history to record over 20 points and 10 rebounds in five straight games. Jackie Young also contributed significantly with 19 points and 10 assists for the Aces (4-1), while Napheesa Collier led the Lynx (4-2) with 18 points and 13 rebounds.
Aces coach Becky Hammon praised the team's developing defensive identity, noting that their recent performances are beginning to reflect their true potential.
Key Takeaways from the Aces' Victory:
A'ja Wilson Dominates:
Wilson continues to set herself apart, showing why she's regarded as one of the best players in the world. Her competitive spirit and skill were on full display, particularly in her matchup against Collier.
Jackie Young's Impact:
Young has been pivotal for the Aces, almost achieving a fifth straight game with at least 20 points and six assists. Her versatile play has been crucial in compensating for the injured Chelsea Gray.
Rookie Kate Martin Shines:
Kate Martin, the rookie from Iowa, continues to impress with her solid performances. Her timely three-pointer and overall play have made her a valuable asset to the team, earning her significant playing time and the admiration of her teammates.
💲 Swift Approval: LVCVA Passes $457.5 Million Budget for 2024-25
The Las Vegas Convention and Visitors Authority (LVCVA) board of directors approved a $457.5 million operating budget for the 2024-25 fiscal year in a swift 10-minute meeting on Wednesday. Conducted remotely, the meeting saw no public comments during the hearing.
The LVCVA's mission is to allocate resources for marketing, advertising, and branding initiatives for sports and special events while maintaining facilities and transportation. The approved operating budget is part of a larger $1.113 billion package, which includes funds for capital expenses, the Las Vegas Convention Center District expansion, and debt service on capital projects.
Key highlights of the 2024-25 budget include:
$103.6 million for advertising the Las Vegas destination.
$48 million to sponsor special events.
$25.5 million for transportation amenities maintenance, including the Las Vegas Monorail and Vegas Loop.
$25 million for community support to Southern Nevada municipalities.
$24.5 million for employee salaries and benefits.
The LVCVA anticipates generating $460.9 million in revenue, primarily from taxes on motel and hotel rooms and space rentals at the Las Vegas Convention Center. The fiscal year begins on July 1, amidst an ongoing $600 million convention center renovation project.
🎰 Boyd Gaming’s Impressive Portfolio of Las Vegas Hotels and Casinos
Boyd Gaming, founded by Sam Boyd in 1975, has established a significant presence in the Las Vegas hospitality and gaming industry. The company owns more than 5,703 hotel rooms, representing nearly 4% of Southern Nevada's hotel room inventory, across nine properties in the Las Vegas area. Here's a list of their holdings:
Aliante: 202 rooms. Acquired in 2016 after Station Casinos' bankruptcy restructuring.
The Orleans: 1,885 rooms. Acquired in 2004 through the purchase of Coast Casinos.
Gold Coast: 712 rooms. Acquired in 2004 through the purchase of Coast Casinos.
Suncoast: 427 rooms. Acquired in 2004 through the purchase of Coast Casinos.
Sam’s Town: 645 rooms. Opened in 1979 as Boyd's first locals casino.
Cannery: 200 rooms. Acquired in 2016 from Cannery Casino Resorts.
California: 779 rooms. Boyd’s first casino, opened in 1975 in downtown Las Vegas.
Fremont: 447 rooms. Purchased in 1985.
Main Street Station: 406 rooms. Purchased in 1993.
Additionally, Boyd Gaming operates Jokers Wild in Henderson, which does not include a hotel, and Eastside Cannery, which has been temporarily closed since the COVID-19 pandemic. Beyond Southern Nevada, Boyd manages 17 properties across the Midwest and South.
Summerlin Area Command - Week Ending: May 24, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌🏠 Summerlin South - April 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌✅ We Want To Spotlight Your Business!
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Until next time, John Wu.