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Las Vegas NV Area October 2009 Rental Home Market 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:

  • 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
  • November 2008:  1405
  • October 2008:  1707
  • September 2008:  1531

 Average Monthly Rental Rates:

  • 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
  • November 2008:  $1506
  • October 2008:  $1393
  • September 2008:  $1610

Median Monthly Rental Rates:

  • 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
  • November 2008:  $1250
  • October 2008:  $1245
  • September 2008:  $1250

Las Vegas Area remains a Landlord's Market at 2.6 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

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