Why Henderson, NV, Deserves to be in Your Portfolio of Rentals?
February 10, 2021
By April Huynh
Las Vegas, Nevada, is known around the world as “Sin City” and as “the Capital of Entertainment” of the world. One wouldn’t expect that the city that literally borders it is one of the best areas to live in in the entire United States!
A Pleasant Surprise
For quite a few years now, Henderson, Nevada, just outside of Las Vegas, is just a 15-20 minutes drive from the Strip, has been considered a wonderful “place to call home,” the tagline of the City of Henderson. It has consistently been rated by numerous sources as one of the most desirable places to live in. According to website PR Underground, “Henderson, was ranked twice as one of the top ten “Safest Cities in the United States” by Forbes Magazine from 2011 thru 2017. Along with safety it is ranked one of “the best cities to live in America” by Bloomberg Business and one of “the best places to retire” by Money. A new report by Goodcall has Henderson, NV as “possibly the #1 safest and best city to live in America.”
In my opinion, then, Henderson deserves to be on your list of one of the best places for an investor to own properties as rentals. Everytime I get a new home to rent in Henderson, I get excited because I know it’s going to rent out in no time and at the highest rent possible. Because of the above reasons, the pool of renters is large and good homes are rented with ease to the choicest candidates who pay on time and are consistent. If anything, the arrival of the coronavirus pandemic is raising the desirability of Henderson.
Let’s now take a look at some current and future developments in Henderson to what exciting things are in store for the city, ensuring that it continues to be a top notch place to call home.
A Downtown Renaissance
One of the most exciting things happening is the Water Street District project. Once considered to be an outdated downtown with nothing but public buildings and small mom and pops in structures in desperate need of updating, the City has been working hard to completely change Downtown Henderson to transform it into a fun, modern and immersive community.
Included in this is Water Street Rehabilitation project, which will transform the street from Lake Mead all the way to Major Avenue. This exciting project includes the new Lifeguard Arena, the collaboration between the Henderson Silver Knights hockey team and the City of Henderson. This brand-new facility which opened on November 10, 2020, will serve as the practice home of the Henderson Silver Knights and a community center for the residents. “Lifeguard Arena features two sheets of ice, retail space, meeting space, and team space for the Henderson Silver Knights. A full service restaurant and a coffee shop will open at later dates,” states the grand opening news release.
In addition, Henderson's newly renovated and renamed Water Street Plaza which perfectly complements the adjacent Lifeguard Arena, is an excellent venue for special events and community programming. The Plaza features a new splash pad and playground for kids, while adults relax in the shade structure and take in the artwork. A viewing area and large-screen TV round out the amenities, perfect for movies and hockey watch parties!
When completed, the area will offer road upgrades for easier accessibility and walking paths, allowing events such as car shows, festivals, and of course, all things hockey-related. This is a $50 million dollar commitment to revitalize and remake this historic area. It’s an exciting development as city officials seek to define itself as “having small town values and large town amenities,” according to a news report on FOX 5 News.
Meanwhile, on the other end of Henderson sits the new Raiders Headquarters and Intermountain Healthcare Performance Center in the west end of Henderson. This massive facility will include “a three-story, 135,000-square-foot office area, along with a 150,000-square-foot field house that will house one-and-a-half indoor football fields. There are three outdoor football fields and a 50,000-square-foot performance center,” states their website.
Furthermore, the Raiders Headquarters will be the anchor to a whole lot of exciting developments for the city. Among these is the development and park agreement for a project called Henderson West, -- a 102.9-acre mixed-use project, along both sides of St. Rose Parkway, an area that had been underdeveloped since the Great Recession of 2008. Here, this property is expected to serve as a live-work-play community with sidewalks and interconnected walking and biking trails.
“Henderson West includes a 4-acre park featuring an amphitheater, recreational fields, sports courts, and picnic and play areas. Incorporating the new Henderson urban park standards, the plan also includes an additional 9 acres of park and open space located throughout the community,” according to a KTNV Las Vegas news segment. Construction is expected to start the second quarter of 2021. These developments are fully in line with the city’s developers goals to create a quality of life for residents and businesses, once again underscoring the value and livability of Henderson.
This is only ONE of the many developments going on in this area of west Henderson. A Las Vegas Review-Journal newspaper article written in October 2019 cites “at least 36 projects, covering more than 1,000 acres and featuring nearly 6,900 homes.” Others include a 600,000 square foot Amazon distribution center and a 279 acres the city sold to Haas Automation for nearly $27.4 million to develop into a 2.3 million-square-foot facility for their company, as well as buildings that would be leased or sold to others.
The Great Opportunity
As you can see, there is much excitement and opportunity for investors to benefit from this across the city of Henderson. Aside from being Las Vegas’ little brother, Henderson is carving its own future and identity as a great place to call home. Investors have long benefited from this reputation and now offer even more as the city’s population is set to explode due to smart business vision and agreements.
Add this explosive growth to an already existing base of excellent neighborhoods and communities and you have a winning formula for investors. City officials have long carefully planned the methodical growth of Henderson with a strong park to population ratio, zoned in bike and walkways, and designed and implemented a pleasing layout of the city to achieve their primary goal of keeping a high livability and enjoyment for their residents.
As I said at the beginning of this blog, rents continue to go up for owners here because of the desirability of this area. All the exciting developments discussed above as well as future plans, the impact of Covid-19 on the Las Vegas community which creates the need for more renters, and the great exodus from California all will supply investors with an unending stream of good renters in this wonderful city for years to come.