Las Vegas Review-Journal – Las Vegas apartment rents rising, but so is vacancy rate

Reis in the News

By Eli Segall
Source: Las Vegas Review-Journal – Las Vegas apartment rents rising, but so is vacancy rate

Las Vegas apartment rents are ending 2018 rising fast, but amid steeper prices and increased construction, vacancies are ticking higher.

The average effective rent for a Las Vegas-area apartment this quarter is $1,059, up 8.1 percent from a year earlier, according to preliminary figures released Friday by research firm Reis Inc.

The growth rate was second-fastest in the country behind Phoenix, at 8.4 percent.

Effective rents show what tenants pay. Asking rents were up 8.6 percent year-over-year in Las Vegas, fastest in the nation.

Reis listed 79 metro areas in the report.

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