LAS VEGAS (KTNV) — We all know the price of rent is rising fast here in the Silver State but a new report says Nevada is in the top five when it comes to recent increases nationwide.
A team of analysts found that the average price of rent in Nevada has gone up 25% since the beginning of the year and 34% since 2019 - marking the fourth-highest increase in the nation.
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Some key findings in the report for Nevada are as follows:
- 25% increase in rent in 2021
- 34% increase in rent since 2019
- Average 1-bedroom costs $1,243
- 27% increase in rent in Las Vegas in 2021
Arizona leads the report with a 38% increase since 2019 in rent while prices have decreased by 8% in North Dakota.
The full report on the rising price of rent is available here.