LAS VEGAS (KTNV) — The demand for apartments in Las Vegas is at an all-time high and so are the prices.
“In Las Vegas, you’re seeing prices up about 30% for one-bedroom or two-bedroom apartments. It’s definitely a more significant increase in the Vegas area,” said Brian Carberry, the senior managing editor with Rent.com.
Carberry said the average cost for a one-bedroom apartment in Las Vegas right now is about $1,800 a month. A two-bedroom apartment is going to cost approximately $2,000.
“That’s really just putting more demand on the units that are available, making more competition for some of these units. Landlords, property managers, whoever it might be, have the ability to price things a little bit higher because they know there are people out there that are going to pay that,” Carberry said.
Carberry recommends people look into neighborhoods they are interested in and pinpoint what certain wants and needs are before signing a lease.