LAS VEGAS (KTNV) — Local realtor, Joshua Harris, says he always advises renters to have a game plan to buy, as rent prices will always rise.
According to rentcafe.com, some of the most expensive areas to rent in Las Vegas are Summerlin Village, Red Rock, and Centennial Hills. On the other side, least expensive areas include the Downtown area, Northwest area, and the Arts District.
“Anywhere on the 215 beltway, even Henderson," said Harris. "Is going to be very popular for people moving in.”
Out-of-state movers are a huge reason prices have skyrocketed, according to Susy Vasquez with Nevada Apartment Association.
Though, as of now, prices are beginning to level out.
"I wouldn't say that [prices] are lowering, they're just not going to increase at the rate they have been over the last couple of years," Vasquez said.
Harris says in certain areas of the city, rent prices can be seen at a minimum of $2000 a month for just a studio apartment.
"Those prices are ridiculous," Harris said.
He says he advises renters to shop around before committing to a place, and to always consider saving up to buy.