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:

• June 2010:  2214
  
• May 2010:  2049
  
• April 2010:  2210
  
• March 2010:  2269
  
• February 2010:  2100
  
• January 2010 1784
  
• December 2009:  1713
  
• November 2009:  1691
• October 2009:  2015
• September 2009:  1849
• August 2009:  2011
• July 2009:  2029
• June 2009:  1853
• May 2009:  1760

 Average Monthly Rental Rates:

• June 2010:  $1410
  
• May 2010:  $1254
  
• April 2010:  $1413
  
• March 2010:  $1193
  
• February 2010:  $1731
  
• January 2010:  $1582
  
• December 1009:  $1313
  
• November 2009:  $1313
• October 2009:  $1264
• September 2009:  $1477
• August 2009:  $1255
• July 2009:  $1405
• June 2009:  $1299
• May 2009:  $1348

Median Monthly Rental Rates:

• June 2010:  $1100
  
• May 2010:  $1150
  
• April 2010:  $1100
  
• March 2010:  $1100
  
• February 2010:  $1100
  
• January 2010:  $1100
  
• December 2009:  $1100
  
• November 2009:  $1100
• October 2009:  $1125
• September 2009:  $1150
• August 2009:  $1150
• July 2009:  $1195
• June 2009:  $1195
• May 2009:  $1200

Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley. 

How to check to see if the home you are renting is in default

Last Month's Report 

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