Las Vegas Rental Update: Are Apartment Rents Starting to Decline in Las Vegas?

An update to the Las Vegas rental market. Rents are still going up, although at a lower rate than previously. Rents increased about 11% year over year and there are about 7,400 apartment rental units in Las Vegas under construction. While rents aren’t declining, the rate at which rents are appreciating are less than previously.

Most of the apartment rental units under construction in Las Vegas are higher end units, mostly over $3,000. This increases the supply of apartments by 4% and the total inventory of rental homes in Las Vegas by 2%.

If you are interested in buying or selling in Las Vegas please contact us below.

Todd Miller

Oana Sterlacci-Miller

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