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 2011: 2399
- September 2011: 2535
- August 2011: 2750
- July 2011: 2396
- June 2011: 2485
- May 2011: 2376
- April 2011: 2342
- March 2011: 2307
- February 2011: 2253
- January 2011: 2002
- December 2010: 1889
- November 2010: 1887
- October 2010: 2119
- September 2010: 2171
Average Monthly Rental Rates:
- October 2011: $1355
- September 2011: $1279
- August 2011: $1422
- July 2011: $1434
- June 2011: $1765
- May 2011: $1257
- April 2011: $1207
- March 2011: $1497
- February 2011: $1501
- January 2011: $1449
- December 2010: $1563
- November 2010: $1184
- October 2010: $1308
- September 2010: $1480
Median Monthly Rental Rates:
- October 2011: $1100
- September 2011: $1145
- August 2011: $1125
- July 2011: $1125
- June 2011: $1150
- May 2011: $1150
- April 2011: $1100
- March 2011: $1100
- February 2011: $1100
- January 2011: $1100
- December 2010: $1100
- November 2010: $1100
- October 2010: $1150
- September 2010: $1100
Las Vegas Area remains a Landlord's Market in the Rental Sector for the Las Vegas Valley.
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