Las Vegas NV Area June 2009 Rental Home Report

Reblogger Kimberly Dearth
Real Estate Agent with RE/MAX CENTRAL

 

Original content by Renée Donohue~Home Photography B.1000860.LLC

Las Vegas Area Rental Homes

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 2009:  1853
  • May 2009:  1760
  • April 2009:  1677
  • March 2009:  1825
  • February 2009:  1702
  • January 2009:  1651
  • December 2008:  1390
  • November 2008:  1405
  • October 2008:  1707
  • September 2008:  1531
  • August 2008:  1719
  • July 2008:  1697
  • June 2008 1564  

 Average Monthly Rental Rates:

  • June 2009:  $1299
  • May 2009:  $1348
  • April 2009:  $1348
  • March 2009:  $1365
  • February 2009:  $1419
  • January 2009:  $2083
  • December 2008:  $1594
  • November 2008:  $1506
  • October 2008:  $1393
  • September 2008:  $1610
  • August 2008:  $1464
  • July 2008:  $1510
  • June 2008:  $1503  

Median Monthly Rental Rates:

  • June 2009:  $1195
  • May 2009:  $1200
  • April 2009:  $1200
  • March 2009:  $1200
  • February 2009:  $1200
  • January 2009:  $1200
  • December 2008:  No Data
  • November 2008:  $1250
  • October 2008:  $1245
  • September 2008:  $1250
  • August 2008:  $1250
  • July 2008:  $1250
  • June 2008:  $1275

Absorption Rate is stable from last month and remains a Landlord's Market at 2.7 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

Last Month's Report 

If you would like to rent a home in the Las Vegas Area please call 702-966-2494 and press option 2 to speak with a rental specialist.

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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Nevada Clark County Las Vegas
Tags:
las vegas nv area rental home report

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
27,782

Kimberly Dearth

Ask me a question
*
*
*
*