Las Vegas NV May 2010 Rental Home Market Report

By
Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas NV Area Homes for Rent

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

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

Blog Disclaimer Important Notice

Realtor/MLS Member, NAR, NVAR, GLVARAccredited Buyer's RepresentativeSeller Representative SpecialistSenior Real Estate SpecialistAt Home with DiversityResort & Second Home Property SpecialistShort Sale Foreclosure Resource

 

 

 

Sell Las Vegas Home          Las Vegas Homes for Sale     Las Vegas Rental House

              

 

 

 

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 Eldorado Pines
Groups:
Las Vegas Investors and Downtown Real Estate
Posts to Localism
Market Updates
City and State
Market Reports
Tags:
las vegas market report
las vegas listings
las vegas nv real estate
las vegas rentals

Spam prevention
Show All Comments
Rainmaker
1,002,983
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Good Morning Shack Diva, munching on some rental activity for breakfast I see.  Is there a specialty where you are not at the top of your game?  Glad to hear cash remains King. 

Jul 08, 2010 05:06 AM #1
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Interesting report.  The rental market is also in the mix of what's happening to the overall housing market.  You bring out a good point of the rental market being softened, slightly.

Jul 08, 2010 06:09 AM #2
Rainmaker
388,619
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Renee I am always happy when one of my renters can become home owners.  Good for them.

Jul 08, 2010 06:10 AM #3
Rainmaker
757,801
Adam Malachi
A 2 Z Realty LLC - Castle Rock, CO
QSC,CDPE,CIPS,CNE,CRB,CRS,GRI,MRE,SFR

Hello Renee ~

Great rental report for Las Vegas! It does show the rental market is down little bit!

Thanks for sharing!

Adam

Jul 08, 2010 07:03 AM #4
Rainmaker
45,810
Lori Cofer
Beasley Realty - Moscow, ID
REALTOR, Moscow Idaho Real Estate

That's good to hear that rental prices are softening and that the real estate market is looking up...

 

Lori Cofer

Jul 08, 2010 10:01 AM #5
Rainmaker
1,132,361
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Renee - Great data ! Been shut down for a while but am back up. Over rebuilding all the data. Next time I will hire this out. This data on LV is excellent as usual

Jul 08, 2010 10:12 AM #6
Rainmaker
186,230
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

The rental market in my neck of the woods has softened a little bit recently.

Jul 08, 2010 12:59 PM #7
Ambassador
1,154,790
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

It's nice to see that renters are becoming buyers. Finally the fence sitters are coming around.

Jul 08, 2010 01:11 PM #8
Rainmaker
682,798
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Renee:  I would guess that the number of jobs declining has an effect on the number of residents not needing rental homes as well.   Kind of a mixed bag of good and bad, good that homes are selling but then the investors can't rent them out.

Jul 08, 2010 02:05 PM #9
Rainmaker
507,032
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

This seems to be part of a normal cycle. The economy has forced more rentals, but this will even out. I, for one, will welcome more buyers back in the market. Thanks for your great report.

Cal

Jul 08, 2010 03:03 PM #10
Rainmaker
1,921,168
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

What a great place to lease or rent; lots of quality rentals

Jul 08, 2010 03:46 PM #11
Ambassador
1,509,132
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Kevin:  Rental Activity is sure good with fresh brewed coffee ;)

Carla:  Renters are elated, landlords not so much!

John W:  DITTO!

Adam:  Thanks!

Lori:  I don't expect this correction to be as harsh, but you never know :-/

Claude:  What happened?

Cameron:  I think we can expect that in markets where all cash investors are buying!

Craig:  LOL they are hopping off that fence in droves!

Jane:  ABSOLUTELY!  It appeared our job numbers are stabilizing last I pulled numbers but I am due to pull again like today!  Our incoming flux of residents isn't as strong with jobs scarce.........eeks!

Cal:  You are welcome!

Tom:  Yes!

Jul 09, 2010 03:41 AM #12
Rainmaker
1,002,983
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

You appear to be a Kona fan if I'm not mistaking!

Jul 09, 2010 04:45 AM #13
Ambassador
1,509,132
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Kevin:  HELP what is a Kona fan?

Aug 02, 2010 10:25 AM #14
Show All Comments

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

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

Ambassador
1,509,132

Renée Donohue~Home Photography

Western Michigan Real Estate Photographer
How May I Assist You With Your Las Vegas Real Estate Needs?
*
*
*
*
Spam prevention

Additional Information