Monday, September 20, 2004
Copyright © Las Vegas Review-Journal
FINANCIAL DATA
By JOAN WHITELY
REVIEW-JOURNAL
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Financial factors also paint a picture of a neighborhood. The earnings of residents usually correlate with the grandeur or shabbiness of a neighborhood's typical housing.
Lower incomes may translate, also, to a greater proportion of rented apartment units compared to single-family homes occupied by owners. More apartments often means more transiency in a neighborhood.
When it comes to earning power, the highest annual median household income is $93,678 in 89011, which covers Lake Las Vegas in Henderson, according to the 2004 Las Vegas Perspective, followed by $78,209 in 89139, in the southwest valley, and $71,368 in 89052, in southwestern Henderson.
On the low end of the economic scale, 89101 in the central city reported a median annual household income of $19,428, followed by $21,000 in 89106, also an older neighborhood in downtown Las Vegas, and $23,724 in 89030, in the northeast valley.
The ZIP codes in the Las Vegas Valley with the greatest share of apartment households are 89119 (67 percent of dwellings) and 89146 (33 percent). The ZIP code 89119 comprises an area near the Strip, running east near the University of Nevada, Las Vegas and past McCarran International Airport, while 89146 is in the central valley, bounded on the north and south by Charleston Boulevard and Spring Mountain Road, bounded on the east by Decatur Boulevard and on the west by Rainbow Boulevard.
Comparing home sales prices in June 2003 and June 2004 -- two points in time between which a steep increase occurred valleywide -- the resale homes with the highest median price ($1.6 million) were in 89011. But only three resales occurred there in June 2004. That is a 73 percent jump in value from 89011's resales (median $925,000) in June 2003. ZIP code 89138, in far western Summerlin, west of the Las Vegas Beltway, had the second-highest median price for resales in June 2004: $425,000; the median resale in June 2003 was $262,495, for an appreciation of 62 percent for the period.
