Local News

Actions

REPORT: Rent prices have jumped 27% so far in Las Vegas this year

Tenants throughout Las Vegas Valley report rising rent costs
Posted at 10:34 AM, Dec 09, 2021

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.

PREVIOUS: 'Prices are going up': Price hikes in Las Vegas pushing renters, buyers out of market

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.