Las Vegas city, Nevada Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Las Vegas city, Nevada rental market.
Las Vegas city, Nevada
Average Apartment Rent
$1,107
Y-o-Y Change in Apartment Rent
5.03%
Compared to a year ago, Las Vegas city, Nevada apartments have recorded a 5.03% rent increase.
Las Vegas city, Nevada |Median apartment rent trend
Las Vegas city, Nevada| Average apartment rent by city
Las Vegas city, Nevada | Apartment rent ranges
At 52.09%, apartments priced $1,000 - $1,500 represent the bulk of Las Vegas city, Nevada rentals, while condos priced under $500 hold the lowest share of the market – 0.1%.
Las Vegas city, Nevada | Housing tenure
Renters take up 48% of Las Vegas city, Nevada real estate, occupying a total of 107,615 units, while homeowners live in 118,781 properties.
Median number of rooms of renter-occupied housing units
4.3
Renter Median household income
$38,553
Average household size of renter occupied-housing units
2.69
Rental vacancy rate
6.4%
Las Vegas city, Nevada | Renter-occupied housing units by no. of bedrooms
There are 38,842 rentals in Las Vegas city, Nevada with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 1,761 units. Overall, the median number of rooms in Las Vegas city, Nevada homes for rent is 4.3.
Las Vegas city, Nevada |Renter-occupied units by age of householder
Most condos for rent in Las Vegas city, Nevada are occupied by residents in the 25 - 34 years age group (24%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Las Vegas city, Nevada | Renter-occupied housing units by family type
Las Vegas city, Nevada | Renter-occupied housing units by the presence of own children
A total of 58,503 apartments for rent in Las Vegas city, Nevada, or 54% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 37,306 units. All in all, the median size of a renter-occupied household in Las Vegas city, Nevada is 2.69.
Las Vegas city, Nevada | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 19% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in Las Vegas city, Nevada.
Las Vegas city, Nevada | Renter-occupied units by year structure built
The highest share of Las Vegas city, Nevada apartment rentals, namely 29% or 31,626 units, were built 1990 - 1999, followed by those built 2000 - 2009 (21%, 22,256 units), and the ones built 1980 - 1989 (20%, 21,454 units).
Las Vegas city, Nevada | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Las Vegas city, Nevada renters (49%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Las Vegas city, Nevada condos for rent is 2014.
Las Vegas city, Nevada | Renter-occupied housing units by vehicles available
When it comes to transportation options, 46% of Las Vegas city, Nevada renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 19% have no vehicle available.
Las Vegas city, Nevada | Means of transportation to work of householders living in renter-occupied housing units
Las Vegas city, Nevada |Geographical mobility in the past year for householders living in renter-occupies housing units
Las Vegas city, Nevada | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Las Vegas city, Nevada apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
