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.
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.
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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.