Thinking of investing in Sparks, Nevada real estate? If so, now is a great time to do so and we will tell you why!
One of the top ways to amass wealth is by investing in real estate. The potential monthly rental income and property appreciation rates can help you grow your net worth gradually.
Proper research is a key determinant in the success of your investment. An area with high quality of life, a solid economy, local attractions, and a healthy rental market is ideal, making Sparks a great area to invest.
In this article, we will highlight the many reasons why you should invest in Sparks real estate.
1. Strong Economy
To start off, Sparks is known to have a strong and diverse economy. The economy is supported by large industries like retail trade, health care, social assistance as well as quarrying, mining, and oil and gas extraction.
The job market in Sparks has continued to increase the last couple of years and future job growth is estimated see continued growth in the coming years. So, with a strong economy, investing in Sparks, NV is ideal.
2. High Renter Population
Sparks, NV has an ever-growing population. In 2021, Sparks reached its highest population at 107,060. What’s more, about 32% of the households are renter occupied.
An apartment of 902 sq. ft. in Sparks has the average rent of $1,480 with a 9% increase compared to last year. However, this number will vary depending on the type of unit, location and going rate for similar units.
Dining is another marketing strategy an investor should use to attract potential renters.
Potential renters could find themselves drawn to many notable establishments like Great Basin Brewery. This iconic landmark is Nevada’s oldest brewery. Its diverse menu offers many beer-infused items like beer-battered fish and chips and their artisan beer bread.
Revision Brewing Company is another up-and-coming brewery. It made a name for itself locally and beyond and was listed in USA TODAY as a great beer destination in the state!
If you love barbecue, BJ’s Nevada Barbecue Company is the place for you! Their menu includes finger-licking-pork ribs, smoked chicken, beef brisket and much more. These delicacies are served with award winning sauce.
For coffee lovers, Lighthouse Coffee Shop has delectable coffee and offers great relaxation.
It’s safe to say that Sparks residents will have no shortage of delicious eateries to choose from!
4. Arts and Culture
Though Sparks may be small, this old railroad town prides itself on its diverse culture and art. As an investor, you should market your properties proximity to some of the following amenities.
The Sparks Museum and Cultural Center is rich with Sparks city’s heritage as well as the Truckee Meadows area. The museum is famous for its outdoor train exhibit and a schoolhouse that was built in 1864.
These places are perfect for families and history buffs alike!
5. Social Activities and Events
Having diverse activities at your disposal is another way to attract renters to your properties. Sparks has a variety of unique, fun, family-friendly activities and events all year round. These attractions bring people together as well as improve the quality of life of the residents.
Famous events include US Open of Watercross, Northern Nevada Dragon Boat Festival at Sparks Marina, and City of Sparks Hometown Christmas Celebration in Victorian Square. There’s something for everybody!
Every year on Labor Day weekend, the Best in the West Nugget Rib Cook-off takes place. It includes live music, a craft fair and many family-friendly activities. It even won the title of the “Best BBQ Festival” in 2016 by USA.
Other popular attractions include the Nugget Casino Resort, the Legend Outlets and the Sparks Marina.
There’s also no shortage of space for picnics, bike riding, volleyball, and water sports such as kayaking and stand-up paddle boarding.
Sparks has a collection of retailers for you and your renters to choose from. The Outlets at Legends offers great options for everyday shopping with stores like Banana Republic, Gap, Nike and Scheels for outdoor lovers.
With its artwork, landscapes and fountains inspired by Nevada sprinkled throughout the outdoor shopping malls, it’s a perfect place to spend the day.
In a Nutshell: Best Real Estate Markets Sparks, NV
Sparks, NV offers a great destination for investors for multiple reasons, its rapid population growth, growing economy and the multitude of popular attractions, activities, and events in the region.
If you are a first-time investor in real estate, seeking professional advice may be of great option. This will make the investing process go smoothly as a property manager will help you avoid costly pitfalls and take care of day-to-day operations. Contact
Evolve today to find out how we can help you on your investing journey!