Local News


Las Vegas renters getting the most space for their money

Posted at 10:50 PM, Oct 16, 2018
and last updated 2018-10-17 06:54:49-04

We know that Las Vegas has one of the hottest rental markets in the country, but if you're looking for more space for your money you're in the right place. 

According to HotPads Las Vegas is the top spot in the country for budget minded renters who need some room to move. 

Size matters. Even in real estate. Whether it's square footage or the size of the check you write to your landlord on the first of the month. Aaron Terrazas is a Senior Economist at Zillow Group.

"When push comes to shove between space and money. Renters are choosing money," said Terrazas. "But for a lot of people space is important."

HotPads says a whopping 82% of renters said price is the top priority. But a significant number, 42% said finding the right size rental is extremely important. The median rental in Las Vegas is just over 1,500 square feet. The typical rental costs just 91 cents per square foot which is 25% less than the national median.

A lot of the available rentals are single family homes according to Gregg Bloom of Urban Nest Realty.

"One of the things is that you can actually get in a single family home right now for less money than you can an apartment. And get an average of 20 to 25% bigger space. And a backyard. And a garage," said Bloom. 

"For families that are renting they need space," Terrazas said. "But space also attracts the whole kind of creative group like artists and musicians."

Location matters too.

"So your Summerlin, your Green Valley, your Anthem," Bloom said. "Certain places like that. The price per square foot is going to be more."