Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.)
Units Leased:
- December 2009: 1713
- November 2009: 1691
- October 2009: 2015
- September 2009: 1849
- August 2009: 2011
- July 2009: 2029
- June 2009: 1853
- May 2009: 1760
- April 2009: 1677
- March 2009: 1825
- February 2009: 1702
- January 2009: 1651
- December 2008: 1390
Average Monthly Rental Rates:
- December 1009: $1313
- November 2009: $1313
- October 2009: $1264
- September 2009: $1477
- August 2009: $1255
- July 2009: $1405
- June 2009: $1299
- May 2009: $1348
- April 2009: $1348
- March 2009: $1365
- February 2009: $1419
- January 2009: $2083
- December 2008: $1594
Median Monthly Rental Rates:
- December 2009: $1100
- November 2009: $1100
- October 2009: $1125
- September 2009: $1150
- August 2009: $1150
- July 2009: $1195
- June 2009: $1195
- May 2009: $1200
- April 2009: $1200
- March 2009: $1200
- February 2009: $1200
- January 2009: $1200
- December 2008: No Data
Las Vegas Area remains a Landlord's Market at 3.0 months of inventory in the Rental Sector for the Las Vegas Valley.
How to check to see if the home you are renting is in default
If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0
Comments(7)