Local News

Actions

Rent soars in Las Vegas, forcing people to find cheaper housing

Young couple moving away from the strip due to rent increase
Posted: 6:25 AM, Jan 09, 2019
Updated: 2019-01-09 20:05:02Z

LAS VEGAS (KTNV) — Rachel Smiley has lived in Las Vegas for four years. Her apartment is just minutes away from the Las Vegas Strip. She says in recent months they've seen a change in the area.

Smiley says it's congested and the cost of living is rising.

“My fiancé and I are definitely going to move north, it’s less traffic, even the insurance rates are spiking," Smiley said.

Some real estate experts like Zar Zanganeh say rent in Las Vegas has increased by 4.4 percent just in the last year and it's causing the market to become more competitive.