Las Vegas, NM

  • Overview
  • Performance
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Key Performance Metrics

Market snapshot

Performance indicators for the Las Vegas short-term rental market based on reliable data.

Listings

60 / 147

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$19,648

Middle-Earners Revenue

Occupancy

54%

Middle-Earners Occupancy

Home Value

$241,525

Median Home Sale Price

Top Earners

$62,790

Top-Earners Revenue

Las Vegas

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Las Vegas.

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B

Generally Investor friendly

Las Vegas Regulations

STRs are clearly allowed citywide with no explicit caps, but investors must complete county STR permit, lodging vendor license, city business license, fire/insurance/septic checks, and a Good Neighbor Agreement, plus pay fees ($150/unit first year, $100 renewal, $36 city license) and meet occupancy limits; inspections and penalties (up to $500/day and 2‑year revocation after three violations) add compliance burden, but the process is known and navigable.

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About Las Vegas

Las Vegas sits in the north-central part of New Mexico, in San Miguel County, at an elevation of roughly 6,400 feet along the eastern slopes of the Sangre de Cristo Mountains. The city has a population of approximately 13,000 and carries a distinctly different character from its famous Nevada namesake. It serves as a gateway to outdoor recreation in the surrounding mountains and high plains, and is widely recognized for its remarkably preserved collection of late nineteenth-century architecture, much of which is listed on the National Register of Historic Places. The nearest major city is Santa Fe, which lies about 65 miles to the west along Interstate 25.

The heart of Las Vegas is its historic downtown, clustered around the Old Town Plaza and Bridge Street. This area features more than 900 buildings on the National Register, many dating to the 1880s and 1890s when the arrival of the Atchison, Topeka and Santa Fe Railway transformed the region. The Plaza is anchored by the Plaza Hotel, a Victorian-era landmark associated with figures ranging from Theodore Roosevelt to early film crews, and the surrounding blocks contain a high concentration of Victorian, Italianate, and Territorial-style structures that give the town a recognizable period feel.

Roughly five miles north of town, Storrie Lake State Park offers a quiet stretch of reservoir set in high desert landscape, with opportunities for non-motorized boating, fishing, picnicking, and camping beneath wide-open skies. A short drive west of the city, the foothills of the Sangre de Cristo Mountains open into the Santa Fe National Forest, where visitors can find hiking, fishing, and scenic drives through pine and aspen groves, including the paved route leading north toward the alpine village of Angel Fire.

About an hour east by car, Pecos National Historical Park preserves the ruins of a large fourteenth-century Puebloan pueblo alongside the remains of a Spanish mission church and a Civil War battlefield. The park is a popular day trip from Las Vegas and provides a natural counterpoint to the Victorian streetscapes of the city itself. A few miles northwest of downtown, the Romanesque-style Montezuma Castle, originally constructed as a hotel in the 1880s and now part of the United World College, offers guided tours and adds another architectural stop to a visit.

Las Vegas is a compelling base for short-term rentals precisely because it sits at the intersection of three appealing travel themes: a walkable, photographable historic district, abundant high-desert and alpine outdoor recreation, and proximity to the cultural anchor of Santa Fe within a comfortable day's drive. Travelers seeking a quieter, more affordable alternative to the better-known New Mexico tourist hubs find genuine depth here, while the steady flow of visitors heading to and from Santa Fe, Angel Fire, and the Pecos country provides a built-in audience throughout much of the year.

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