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Las Vegas rent increases by 10% since last year, says Zillow

Posted at 11:27 AM, Jul 23, 2019

Zillow says that Las Vegas has seen a big jump in rent since the same time last year.

The median rent for a single-family home is just over $1,400 per month. That is up 10% from a year ago at this time and the biggest jump among top 50 markets.

Home values are also continuing to rise in the Las Vegas valley.

Zillow says that the median home is now worth more than $278,000. That is an increase of 6% over last year. Additionally, inventory is up 54.3% from a year ago. There are 5.210 more homes on the market than last June. That’s the largest year-over-year inventory jump of any top-50 market, compared to a small decline nationally.

The median U.S. rent rose 3% on an annual basis and the typical U.S. home is worth $227,700.