Local News


Study: Rental prices soaring in select Vegas neighborhoods

Vegas Apartments_file.jpg
Posted at 5:35 PM, Aug 30, 2019
and last updated 2019-08-30 20:52:53-04

LAS VEGAS (KTNV) — Rental prices continue to rise throughout the Las Vegas valley, and a few select neighborhoods are seeing dramatic increases.

Rent.com released a recent study that ran numbers on an average one-bedroom unit from local neighborhoods to determine which areas have seen the highest percentage increase over the past year.

RELATED: Las Vegas rent increases by 10% since last year, says Zillow

The study revealed that the Southern Highlands area had shown the most significant jump in rent year-over-year with a 23.51% increase from August 2018 to August 2019.

This neighborhood's average rent for a one-bedroom is at an average of $1,408. The study says the area is full of parks and restaurants with a claim that Southern Highlands is more than just a community; it's a "lifestyle."

Silverado Ranch came in second on the list with a rent increase of 14.69% and an average rent of $1,283.

RELATED: Study: Las Vegas rent on the rise

The Rhodes Ranch area saw an increase of 14.62% with an average rent of $1,443 followed by Centennial Hills, and Coronado Ranch rounding out the top five with average rents above $1,100.

More information about the study is also available here.