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:
- March 2011: 2307
- February 2011: 2253
- January 2011: 2002
- December 2010: 1889
- November 2010: 1887
- October 2010: 2119
- September 2010: 2171
- August 2010: 2300
- July 2010: 2106
- June 2010: 2214
- May 2010: 2049
- April 2010: 2210
- March 2010: 2269
Average Monthly Rental Rates:
- March 2011: $1497
- February 2011: $1501
- January 2011: $1449
- December 2010: $1563
- November 2010: $1184
- October 2010: $1308
- September 2010: $1484
- August 2010: $1459
- July 2010: $1425
- June 2010: $1410
- May 2010: $1254
- April 2010: $1413
- March 2010: $1190
Median Monthly Rental Rates:
- March 2011: $1100
- February 2011: $1100
- January 2011: $1100
- December 2010: $1100
- November 2010: $1100
- October 2010: $1150
- September 2010: $1100
- August 2010: $1150
- July 2010: $1100
- June 2010: $1100
- May 2010: $1150
- April 2010: $1100
- March 2010: $1100
Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley.
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