LAS VEGAS (KTNV) — New information shows that rent is way up for the month of July in Las Vegas.
According to Zumper.com, Las Vegas is the 52nd (out of 100) most expensive rental market in the nation.
Zumper says that the price of 1 bedroom apartments in Las Vegas are up more than 7-1/2% over last year.
The median price is now nearly $1,000. The median prices for a 2-bedroom apartment is nearly $1,200.
Top Five Rental Markets1. San Francisco, CA, as we get into the hot moving season, saw one bedroom rent inch up $20 last month to hit a new peak of $3,720. Two bedrooms also grew, up 1.7% to $4,800.
2. New York, NY one bedroom rent fell from its 3 year high in our previous report, dropping 1.3% to $2,940. Two bedrooms, on the other hand, grew 2.4% to $3,380.
3. San Jose, CA moved up a spot, outpacing Boston, to become the 3rd most expensive rental market in the nation. One bedroom rent grew 2.9% to $2,500, while two bedrooms decreased a slight 0.4% to $2,840.
4. Boston, MA dropped down to 4th with one bedroom rent falling 2% to $2,450 and two bedrooms decreasing 0.4% to $2,840.
5. Washington, DC moved up 2 spots, and into the top 5 markets, with one bedroom rent up 1.4% to $2,240. Two bedrooms saw a 3.7% decline to $2,850.
REPORT: Cheaper to rent a 3 bedroom than to buy one almost everywhere
Rent soars in Las Vegas, forcing people to find cheaper housing