News Summary
Nevada has dropped significantly in U-Haul’s Growth Index for inbound moves, falling from 11th to 35th place in 2024. This decline reflects a decrease in arrivals, which saw more than 3% fewer people moving to the state compared to the previous year. With economic challenges, including high unemployment rates and declining rental prices, Nevada’s appeal as a relocation destination is being questioned. The state has lost its status as a net gain location, after having seen gains in four of the last five years, raising concerns about future growth.
Nevada Drops in U-Haul’s 2024 Rankings for Inbound Moves
Nevada has experienced a significant decline in U-Haul’s Growth Index for inbound moves, tumbling from 11th to 35th place in 2024. This sharp drop, totaling 24 positions, reflects a decrease in the number of people moving into the state.
According to U-Haul, arrivals to Nevada have seen a more than 3% decline last year compared to 2023. As a result, the state has lost its status as a net gain state, after having registered as such in four of the last five years. In this period, U-Haul customers accounted for 49.7% of one-way traffic into and out of Nevada, contrasting with 50.3% who departed from the state.
Comparative Growth Across States
In the broader context of interstate migration, South Carolina emerged as the top growth state for inbound moves, followed closely by Texas and North Carolina. These states have managed to attract more residents, while Nevada’s fall in rankings poses questions about its current appeal.
Economic Challenges in Nevada
Several economic indicators suggest that Nevada, particularly Las Vegas, may be experiencing significant challenges. The city now holds one of the highest unemployment rates in the country, alongside a downturn in tourism and gaming revenue, crucial sectors for its economy. Although home prices in Nevada remain at record highs, rental rates have decreased significantly over the previous year, pointing to potential affordability issues for residents.
A quarterly economic report from UNLV’s Lee Business School revealed rising economic uncertainty as of the end of Q2 2025. These indicators may contribute to feelings of instability that deter potential new residents.
Real Estate Market Insights
The real estate landscape in Nevada shows mixed signals. Despite an increase in the average home sale price in Southern Nevada, which rose to $485,000 in June, the overall real estate market is witnessing challenges. The metro area is currently leading the nation in new housing listings, and median asking rents across the country have started to decline.
Concerns surrounding the real estate market have also gained attention from industry leaders. Discussions regarding a settlement related to commission structures within the National Association of Realtors have reportedly had minimal effects, according to local realtors who continue to navigate their business amidst ongoing challenges.
Luxury Market Trends
The luxury real estate sector in Las Vegas has generally thrived since 2019, although it too is believed to have been affected by tariffs during the Trump administration. A recent record sale of a mansion in Henderson is notable, revealing ongoing investment activity despite economic uncertainties. However, the landscape remains strained, with reports highlighting that the Canadian searches for American homes have decreased since Donald Trump’s presidency.
Insurance and market dynamics
Homeowners’ insurance in Nevada, although recently experiencing price increases, continues to be below the national average. This might provide some relief to homeowners amidst rising costs in other areas.
With U-Haul’s latest data showing declining inbound migration, Nevada’s long-term growth will likely hinge on its ability to address these economic and real estate challenges effectively.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Las Vegas Review-Journal
- News 3 Las Vegas
- Kitsap Sun
- 12 News
- 8 News Now
- Wikipedia: Interstate migration in the United States
- Google Search: U-Haul migration report
- Google Scholar: Nevada real estate market
- Encyclopedia Britannica: Nevada
- Google News: Nevada housing market
Author: STAFF HERE LAS VEGAS WRITER
LAS VEGAS STAFF WRITER The LAS VEGAS STAFF WRITER represents the experienced team at HERELasVegas.com, your go-to source for actionable local news and information in Las Vegas, Clark County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Electric Daisy Carnival, World Series of Poker, and Consumer Electronics Show. Our coverage extends to key organizations like the Las Vegas Chamber of Commerce and Three Square Food Bank, plus leading businesses in hospitality and entertainment that power the local economy such as MGM Resorts International, Caesars Entertainment, and Las Vegas Sands. As part of the broader HERE network, we provide comprehensive, credible insights into Nevada's dynamic landscape.
