Wealthy individuals from California and Washington are flocking to the Las Vegas Valley to escape tax policies and politics from their home states, according to several area real estate agents.

It a “full-scale migration of wealth,” said Virtue Real Estate co-owner, broker and CEO Darin Marques, who just opened a brokerage in Henderson.

He pointed to multiple events which are driving Washington residents to come to Las Vegas. Seattle recently elected left-wing Mayor Katie Wilson who campaigned on taxing the wealthiest residents to fund a slew of social programs, and a proposed millionaire’s tax that was recently endorsed by Washington’s governor.

Washington implemented a capital gains tax back in 2022, which levies a 7 to almost 10 percent charge on investment properties over $278,000 and Marques said this wealth exodus appears to have kicked into overdrive in the third quarter of 2025.

California’s proposed billionaire tax would impose a one-time tax of 5 percent on billionaires living in California as of Jan. 1 of this year, however California Gov. Gavin Newsom has expressed concern over the bill, which could make its way to a vote this November.

Marques said one city has become a focal point for relocation.

“We’ve seen it in the last 90 days really,” said Marques about an uptick in Washington residents relocating to Henderson, specifically. “Starting in about September, we all of a sudden started seeing all these people from Seattle and it’s just grown since then.”

Marques said finances are driving high-net-worth individuals and families to seek out less regulated states and the Las Vegas Valley is one of the direct benefactors of this.

“When a client from Bellevue, Washington, sells a $4 million home and faces a potential $300,000-plus tax bill in Washington, Henderson becomes far more attractive,” he said. “Nevada has no state income tax at all, so buyers keep more of what they earn, invest or make when selling a home, and they can often buy a comparable luxury home for about half the coastal price.”

Several other real estate agents who spoke to the Las Vegas Review-Journal confirmed they are seeing the same anecdotal rise in wealthy residents from California and Washington looking to relocate in the valley. Robert Little, a real estate agent with Re/Max Advantage in Henderson said it applies to older individuals looking to relocate as well.

“I’ve spoken with multiple high-net-worth individuals from the Bay Area and the Seattle market who are approaching retirement and planning a move to Southern Nevada,” he said. “The primary drivers are the significantly lower cost of living and, in particular, Nevada’s lack of a state income tax. Just recently, I spoke with a senior Bay Area tech executive who is preparing to retire and was researching high-end golf communities here. He was genuinely surprised by the value and lifestyle options available in Las Vegas and has plans to visit soon to tour homes in person.”

Ivan Sher, who runs one of the largest luxury brokerages in the valley said he’s seen the influx as well.

“We’re seeing a noticeable influx of high-net-worth buyers from Washington and California coming to Las Vegas, and a big driver is tax policy,” he said. “But it’s not just about taxes. Vegas also offers a compelling lifestyle. As proposals shift in those states, people are proactively positioning themselves in markets like Nevada where the tax environment is more predictable and the quality of life is strong.”

Henderson Mayor Michelle Romero recently attended the opening of Virtue Real Estate Group’s Henderson office and spoke to the Review-Journal via email after the event. She said after a major boom, the city is seeing more manageable growth and acknowledged both Washington and California transplants as a big part of this.

“Henderson is experiencing slow, steady growth after several decades of double-digit population increases. Having manageable growth enables the city to thoughtfully plan for infrastructure, safety, and public amenities, while having a sustainable source of income from that growth,” she said.

A recent study from U-Haul found Henderson as one of the key drivers for in-migration according to the moving company to end 2025, noting Washington as one of the top five origin points for movers to the Silver State, and a recent Bloomberg investigation found an anecdotal link of wealthy Seattle residents fleeing directly to Las Vegas and its more advantageous tax system.

A group of entrepreneurs host the annual Las Vegas Tech Summit in Summerlin looking to attract wealthy tech CEOs and founders from both California and Washington, and a Las Vegas Review-Journal article about the 2024 summit was republished in The Seattle Times.

Henderson currently has approximately 359,059 residents according to the city’s website and has been noted as one of the fastest-growing cities in the country in multiple studies over the past few years. Washington’s population growth has been dropping consistently since 2020 along with California, which actually lost residents during the pandemic.

Redfin’s Henderson migration and relocation trends uses home searches to approximate net inflow for the city, with Los Angeles first, Seattle second and San Francisco third. Redfin estimates approximately 720 households relocated from Seattle alone to Henderson from October through the end of 2025, however of note the estimates aren’t based on actual home purchases or moves, rather its search engine results.

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