Las Vegas NV Area Rental Home Market Report November 2013 (includes Henderson & North Las Vegas)

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

Las Vegas Homes for Rent

Las Vegas 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:

  • November 2013:  2662
  • October 2013:  2581
  • September 2013:  2989
  • August 2013:  3639
  • July 2013:  3355
  • June 2013:  3224
  • May 2013:  3297
  • April 2013:  3100
  • March 2013:  3188
  • February 2013:  3141
  • January 2013:  2608
  • December 2012:  2289
  • November 2012:  2690
  • October 2012:  2913
  • September 2012:  2626

Average Monthly Rental Rates:

  • November 2013:  $1315
  • October 2013:  $1319
  • September 2013:  $1292
  • August 2013:  $1222
  • July 2013:  $1564
  • June 2013:  $1383
  • May 2013:  $1348
  • April 2013:  $1283
  • March 2013:  $1315
  • February 2013:  $1274
  • January 2013:  $1462
  • December 2012:  $1535
  • November 2012:  $1240
  • October 2012:  $1307
  • September 2012:  $1308

Median Monthly Rental Rates:

  • November 2013:  $1100
  • October 2013:  $1100
  • September 2013:  $1100
  • August 2013:  $1100
  • July 2013:  $1100
  • June 2013:  $1138
  • May 2013:  $1125
  • April 2013:  $1100
  • March 2013:  $1095
  • February 2013:  $1050
  • January 2013:  $1095
  • December 2012:  $1075
  • November 2012:  $1100
  • October 2012:  $1095
  • September 2012:  $1095

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 Las Vegas Area Rental Home Report

How to Rent a Home in Las Vegas - Fill Out the Form on this page to rent or ask for property management services.

Typical Move in Costs for Renting a Las Vegas Home

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

 

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

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Show All Comments
Rainmaker
2,257,053
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Renee. You sure do know this rental market. You report is very detailed and easy to understand, well done.

Jan 11, 2014 09:11 PM #1
Rainmaker
1,392,882
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I think Nationwide renters are becoming buyers. For the last 7-9 years, young people have seen only a down market. They are now seeing the upside of home ownership.

Jan 12, 2014 12:17 AM #2
Ambassador
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Renee  With those stats I would expect downward pressure on rental prices

Jan 12, 2014 04:14 AM #3
Rainmaker
56,179
Tony Busanich
TD Bank - Freehold, NJ
1-4 RESIDENTIAL FAMILY LENDING SPECIALIST

Renee, excellent report and post, we see more and more first time buyer come out and i see the market's starting to pick up.

Jan 13, 2014 03:59 AM #4
Rainmaker
1,333,848
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - We've had a lot of investors flooding the rental market with their new purchases as well. However I've noticed a lot of them are over pricing their homes by hundreds every month, which is helping other landlords who are slightly over priced ($50-$100 a month) rent theirs.

Jan 14, 2014 03:11 AM #5
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

I am always amazed with this rental blog. Not a lot of that by me

Jan 18, 2014 05:53 AM #6
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