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Downtown Free Apartments Vegas

Discover free apartments in Downtown Las Vegas and the LV Arts District. Explore options with no utility costs and budget-friendly studios at Las Vegas Apartments Corporation.

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Las Vegas Apartment Market Trends 2019' Q4

Las Vegas Apartment Market Trends 2019' Q4.  The Lied Institute for Real Estate Studies at the UNLV Lee Business School has just released the Apartment Market Trends report for 2019" Q4. The median apartment rent in the Las Vegas metropolitan area for 2019Q4 was $1,081. This represents only a $1 decrease from the previous quarter. Median rents range from $782 in the 89101 zip code to $1,785 in the 89134 zip code. The 89105 zip code, located in Henderson, saw the largest quarterly increase in median rents with a 10 percent increase. The 89166 zip code, located in the northwest, saw the largest decrease in median rents with a 7 percent decrease. The 2019Q4 vacancy rate across the entire Las Vegas area, which consists of 175,102 units, was 5.41 percent. This represents a decrease of 0.14 percentage points since 2019Q3. The 2019Q4 vacancy rate ranged from 1 percent in the 89005 zip code to 16.9 percent in the 89115 zip code. The 89135 and 89141 zip codes also had vacancy rates greater than 16 percent. There are permits for 17 apartment projects, totaling 4,838 units. Six apartment projects, totaling 1,382 units, are expected to finish by the end of 2020' Q1. Median rents on student apartments increased by more than 6.0 percent on a quarter-to-quarter basis for the second consecutive quarter. The median rent for student apartments is $1,113, $32 more than the Las Vegas median rent. Apartments with an “A+” improvement rating have a median rent of $2,348, over $1,000 more than “A” rated apartments. There are only 737 units with an “A+” rating, and 11.66 percent are vacant. Apartments with a grade of “C-” have the highest median rent per square foot at $1.51. Las Vegas Apartment Market – Median Rents Median rents in the Las Vegas metropolitan area ranged from $782 in the 89101 zip code to $1,785 in the 89134 zip code. The lowest rent at a single apartment complex was $362 in the 89102 zip code. The highest rent at a single apartment complex was $2,726 in the 89012 zip code. The west side continues to see the highest median rents. The 89138, 89135, and 89134 zip codes, all on the west side, were the only three zip codes with median rents over $1,600. The 89138 zip code had the highest median rent by the square foot, by a significant margin, with a median rent per square foot of $1.78. The 89141 zip code had the next highest median rent by square foot at $1.55. The 89110 zip code, located on the east side, had the lowest median rent per square foot at $0.98. This was the only zip code where the median rent per square foot was less than $1. 25 zip codes saw a decrease in median rents from the previous quarter. The 89166 zip code experienced a quarterly decrease of 7 percent, or $95, the largest decrease of any zip code in the Las Vegas metropolitan area. 29 zip codes experienced a quarterly increase in median rents. Henderson saw the strongest increases in median rents as 3 zip codes in Henderson experienced increases in median rents greater than 4 percent. The 89105 zip code, located in Henderson, saw the largest quarterly increase in median rents of any zip code in the Las Vegas metropolitan area with a 10 percent, or $98, increase. Vacancy Rates The vacancy rate ranged from 1 percent in the 89005 zip code to 16.9 percent in the 89115 zip code. This was the first time in 2019 where the 89005 zip code, which is Boulder City, had a non-zero vacancy rate. The 89106 zip code, located in North Las Vegas, had the next lowest vacancy rate at 2.1 percent. The 89135, 89141, and 89115 zip codes, which are all located on opposite ends of the Las Vegas metropolitan area, had the top three vacancy rates as all three had a vacancy rate greater than 16 percent. The 89144 zip code, in Summerlin, had the fourth-highest vacancy rate at only 9.1 percent. North Las Vegas continues to see the largest range in vacancy rates as the vacancy rate ranges from 2.9 percent, in the 89086 zip code, to 16.9 percent, in the 89115 zip code. The east side continues to see the lowest range in the vacancy rate as vacancy rates range from 4.3 percent, in the 89142 zip code, to 5.5 percent, in the 89121 zip code. 21 zip codes saw a quarterly decrease in the vacancy rate and 32 zip codes saw an increase. Three of the top five largest quarterly decreases in the vacancy rate came from North Las Vegas. The largest quarterly decrease in the vacancy rate came from the 89131 zip code, in North Las Vegas, where the vacancy rate decreased 12.8 percentage points. The 89135 zip code, on the west side, saw the largest quarterly increase in the vacancy rate (12.2 percentage points). Las Vegas Apartment Market – Student and Age Restricted Apartments Student apartments had the highest median rent of any special housing type. The median rent for student apartments was $31 more than the Las Vegas median. Student apartments also saw the largest increase in median rents from the previous quarter as rents increased $72, or 6.9 percent. This was the second consecutive quarter where student apartments saw an increase greater than 6 percent. Affordable only and age-restricted only apartments saw almost no change in median rents from the previous quarter. Affordable and age-restricted apartments saw a quarterly increase of $15, or 1.9 percent. Age-restricted apartments continue to be the only special apartment type with any vacancy rate. 4,560 apartments were classified as age-restricted and 188 were vacant. This represents an increase of 1 percentage point from the previous quarter. Under Construction Currently, 17 apartment projects, totaling 4,838 units, are underway. This represents an increase of 1,303 units from the previous quarter. Six apartment projects are expected to finish by the end of 2020Q1. These projects will bring in an additional 1,382 units across the Las Vegas metropolitan area. Five other projects are expected to complete by the end of 2020 and bring in an additional 1,392 units. The 89052 zip code has three projects underway, which total 970 units. The 89101 and 89113 zip codes are the only other zip codes with two projects underway. North Las Vegas did not have any projects under construction last quarter, but now have 3 projects totaling 853 units. To read the entire report for 2019, Q4, please click on the link: Apartment Market Trends, 2019 Q4 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Las Vegas Apartment Market Trends 2019, Q3.”  For more Las Vegas real estate market news, rentals, rental market data, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook.   Read the full article

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Las Vegas Apartments Corporation provides Downtown Las Vegas Rentals with modern amenities and affordable housing in all the categories of One bedroom and studio Apartments.

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Las Vegas Apartment Market Trends 2019'Q3

Las Vegas Apartment Market Trends 2019'Q3. The Lied Institute for Real Estate Studies at the UNLV Lee Business School has just released the Apartment Market Trends report for 2019, Q3. The median apartment rent in the Las Vegas metropolitan area for 2019’Q3 was $1,082. This represents a 1.2 percent increase from the previous quarter. Median rents range from $781 in Zipcode 89101 to $1,676 in Zipcode 89138. The 89141 zip code saw the largest quarterly increase in rents with an 11.8 percent increase. The 2019’Q3 vacancy rate across the entire Las Vegas area, which consists of 159,084 units, was 5.55 percent. This represents an increase of 0.19 percentage points since 2019’Q3. The 2019’Q3 vacancy rate ranged from 0 percent in the 89005 zip code to 19.0 percent in the 89141 zip code. The 89141 zip code saw a 17.3 percentage point quarterly increase in the vacancy rate. There are currently 7 apartment projects currently scheduled to finish by the end of 2019 and will add an additional 1,466 units across the Las Vegas metropolitan area. Student apartments saw a large 6.2 percent quarterly increase in median rents. The median rent for student apartments is $1,041, $42 less than the Las Vegas median rent. All other special apartment types saw quarterly increases in rents. Over 64,000 units have an improvement rating of either an “A” or “A-“. These apartments have a median rent per square foot of $1.29. Apartments with a grade of “C-” have the highest median rent per square foot at $1.52. Las Vegas Apartment Market - Median Rents Median rents in the Las Vegas metropolitan area ranged from $781 in the 89101 zip code to $1,676 in the 89138 zip code. The lowest rent at a single apartment complex was $363 in the 89102 zip code. The highest rent at a single apartment complex was $2,714 in the 89012 zip code. The west side continues to see the highest median rents. The 89138, 89135, and 89134 zip codes, all on the west side, were the only three zip codes with median rents over $1,600. The 89138 zip code had the highest median rent by the square foot, by a significant margin, with a median rent per square foot of $1.79. The bottom three zip codes in average rent per square foot all came from the east side. The 89142 had the lowest average rent per square foot at $1.02 per square foot. The two zip codes with the lowest overall rents occurred in North Las Vegas. The 89101 and 89106 had median rents of $781 and $794 respectively. The 89141 zip code, which saw the fourth-highest median rents, saw the largest increase in median rents since the previous quarter (11.8 percent). The next largest increase in median rents was 6 percent, which occurred in both the 89012 and 89135 zip codes. 43 zip codes saw a quarterly increase in median rents of less than 1 percent. No zip code saw a decrease in median rents from the previous quarter. Vacancy Rates The vacancy rate ranged from 0 percent in the 89005 zip code, to 19.0 percent in the 89141 zip code. There were no vacant units in the 89005 zip code, which is Boulder City, but there were only 106 apartments surveyed. The 89138 zip code, on the west side, had the next lowest vacancy rate at 0.7 percent among 276 surveyed units. The 89131 and 89115 zip codes, both in North Las Vegas, had the next highest vacancy rates at 18.4 percent and 16.4 percent, respectively. Four of the top six zip codes in vacancy rates were in North Las Vegas. No other region saw a concentration of high or low vacancy rates. The vacancy rate in Henderson ranged from 3.0 percent (89052) to 6.4 percent (89012). The Eastside saw the lowest range as the vacancy rate ranged from 3.9 percent 89142) to 6.2 percent (89110). 23 zip codes saw a quarterly decrease in the vacancy rate and 30 zip codes saw an increase. The largest quarterly increase in the vacancy rate came from the 89141 zip code where the vacancy rate increased by 17.3 percent. The 89169 zip code saw the largest quarterly decrease in the vacancy rate (4.4 percentage points). Las Vegas Apartment Market - Student and Age Restricted Apartments Student apartments had the highest median rent of any special housing type. The average rent for student apartments was $41 less than the Las Vegas median. Student apartments also saw the largest increase in median rents from the previous quarter as rents increased $61, or 6.2 percent. Age-restricted apartments were the next cheapest apartment type as rents were $133 cheaper than the Las Vegas median. Apartments that were part of affordable housing rented for $201 less than the Las Vegas median. Apartments that were age-restricted and part of affordable housing rented for $285 less than the Las Vegas median. No apartment type saw a quarter to quarter decrease in median rents The apartment complex with the lowest rent in the entire Las Vegas metropolitan area was an affordable and age-restricted apartment ($363). This represents a $30 decrease from the previous quarter for this complex. Age-restricted apartments were the only apartment type with any vacancy rate. 4,560 apartments were classified as age-restricted and 154 were vacant. This represents no change from the previous quarter. Under Construction There are currently 7 apartment projects scheduled to finish by the end of 2019. These projects will bring in an additional 1,466 units across the Las Vegas metropolitan area. Projects that finish in 2019’Q4 represent almost half of all units that are currently under construction. The 89052, 89119, and 89147 zip codes all have two projects underway. No other zip code has multiple projects underway. The average total estimated construction time for an apartment project is just over a year and a half. There was one new apartment construction in 2019’Q3. This project estimates to bring an additional 304 units. There is no expected completion date for this project. To read the entire report for 2019, Q3, please click on the link: Apartment Market Trends, 2019 Q3 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Las Vegas Apartment Market Trends 2019, Q3.”  For more Las Vegas real estate market news, rentals, rental market data, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. Read the full article

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Las Vegas Apartment Market Trends Q3 2020

Las Vegas Apartment Market Trends Q3 2020. The Lied Center for Real Estate at the UNLV Lee Business School has just released its Q3 2020 Las Vegas Apartment Market Trend report and you can find a summary and link to the entire report here. The median apartment rent in the Las Vegas metropolitan area for 2020Q3 was $1,100. This represents an $11 increase from the previous quarter and an $18 increase from 2019Q3. Median rents range from $761 in the 89101 zip code to $1,829 in the 89134 zip code. The highest rents continue to be in the western and southern regions. However, these regions continue to see some of the largest year-over-year decreases in median rents this quarter. The 2020Q3 vacancy rate across the entire Las Vegas area, which consists of 208,097 units, was 3.85 percent. This represents a decrease of 0.96 percentage points from the previous quarter and a decrease of 1.70 percentage points from 2019Q3. The 2020Q3 vacancy rate ranged from 0 percent in the 89005 zip code to 12.2 percent in the 89144 zip code. The largest year over year decreases in the vacancy rate came from North Las Vegas and Henderson.

Median Apartment Rent - LasVegasRealEstate.com There are currently 22 apartment projects underway, totaling 4,904 units. Five apartment projects, totaling 694 units, are expected to finish by the end of 2020Q4. Both affordable and age-restricted apartments saw a year over year increase in the vacancy rate. All special apartment types saw a year over year increase in median rents. Affordable apartments saw the largest increase as prices increased $237, or 27 percent, year over year. Apartments rated “B+” or higher saw a year over year decrease in median rents. All apartments with a “B” or lower rating saw a year over year increase in medians rents. Only apartments with an “A” or “D” rating saw a year over year increase in the vacancy rate. Median Rents Median rents in the Las Vegas metropolitan area ranged from $761 in the 89101 zip code to $1,829 in the 89134 zip code. The lowest rent at a single apartment complex was $367 in the 89102 zip code. The highest rent at a single apartment complex was $2,777, which occurred in the 89012 zip code. Three of the top five zip codes with the highest median rent were all located on the west side. The 89141 and 89044 zip codes, both located in the southern area, were the other two zip codes in the top five. Median rent per square foot ranged from $1.03 per square foot in the 89169 zip code to $1.65 per square foot in the 89138 zip code. Median rent per square foot was over 10 percent higher in the 89138 zip code than any other zip code in the Las Vegas metropolitan area. The 89044 zip code had the next highest median rent per square foot at $1.48 per square foot.

Las Vegas Median Rent 2020 Q3 - LasVegasRealEstate.com Eighteen zip codes in the Las Vegas metropolitan area saw a year over year decrease in median rents and 36 zip codes saw a year over year increase in median rents. The 89128 zip code, located in Summerlin, saw the largest decrease in median rents of any zip with a decrease of 10.8 percent. This was the third consecutive quarter where a Summerlin zip code had the largest year over year decrease in median rents. The 89134 zip code, which is also located in Summerlin, saw the largest year over year increase in median rents of any zip code in Las Vegas as rents increased 11.8 percent year over year. The 89015 zip code, located in Henderson, and the 89115 zip code, located in North Las Vegas, both saw year over year increases in median rents of more than 10 percent. The east side showed the lowest range of rent increases as all zip codes on the east side saw year over year rent increases of less than 6 percent. No zip code on the east side saw a year over year decrease in median rents. Vacancy Rates The vacancy rate ranged from 0 percent in the 89005 zip code to 12.2 percent in the 89144 zip code. The 89144 zip code was the only zip code with a vacancy rate greater than 10 percent. There were four zip codes with vacancy rates greater than 10 percent last quarter. Summerlin continues to see the largest range of vacancy rates. Vacancy rates in Summerlin ranged from 1.2 percent, in the 89145 zip code, to 12.2 percent, in the 89144 zip code. The center region saw relatively high vacancy rates as the 89102, 89109, and 89169 zip codes all had vacancy rates of at least 5.0 percent. Henderson continues to see the lowest vacancy rates of anywhere within the Las Vegas metropolitan area. The 89183, 89105, 89044, and 89002 zip codes all had vacancy rates lower than 2.5 percent. No Henderson zip code had a vacancy rate greater than 4.5 percent. 39 zip codes saw a year over year decrease in the vacancy rate and 15 zip codes saw an increase. The largest year over year decrease was 16.9 percentage points and came from the 89131 zip code, which is in North Las Vegas. North Las Vegas saw four other zip codes with decreases in the vacancy rate of more than 2.0 percentage points. Henderson and the east side also had multiple zip

Las Vegas Apartment Vacancy Rate 2020 Q3 - LasVegasRealEstate.com codes with decreases in vacancy rates of more than 2.0 percentage points. The largest year over year increase was 6.6 percentage points and came from the 89144 zip code, which is in Summerlin. The next largest increase also came from Summerlin as the 89134 zip code experienced a 5.3 percentage point year over year increase. No other zip code in the Las Vegas metropolitan area saw a year over year increase in the vacancy rate of more than 3.0 percentage points. Student, Affordable, and Age-Restricted Apartments Student apartments continue to have the highest median rent of any special housing type. This is highly correlated to their age, as most student-focused housing units are relatively new in the region. The median rent for student apartments in 2020Q3 was $123 more than the Las Vegas median. Affordable apartments saw the largest year over year increase in median rents with a 27 percent year over year increase. Affordable and age-restricted apartments were the only apartment types to see a quarter-to-quarter decrease in median rents as rents decreased $6. Affordable apartments saw a 21 percent quarter-to-quarter increase. Student apartments and age-restricted apartments both saw increases of less than 2 percent. Affordable apartments showed a vacancy rate for the first time in over a year. The 8 percent vacancy rate for affordable apartments was driven by one complex with a vacancy rate of more than 50 percent. Age-restricted apartments saw a 1 percentage point quarter-to-quarter decrease in the vacancy rate. New Construction Currently, 22 apartment projects, totaling 4,904 units, are underway. This represents an increase of 1,310 units from the previous year and an increase of 1,447 units from the previous quarter. Five apartment projects are expected to finish by the end of 2020Q4. These projects will bring in an additional 674 units across the Las Vegas metropolitan area. The 89141 zip code has the most units under construction with 532. The 89052 and 89141 zip codes also have over 500 units under construction. Henderson saw an increase of more than 700 units from the previous quarter. Nonetheless, Henderson was the only region that saw a year over year decrease in apartment construction. No region saw a quarterly decrease in apartment construction. To read the entire report for Q3 2020, please click on the link: Las Vegas Apartment Market Trends, Q3 2020 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Center for Real Estate Thank you for reading our post, “Las Vegas Apartment Market Trends Q3 2020.”  For more Las Vegas real estate market news, rentals, rental market data, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. https://www.lasvegasrealestate.com/las-vegas-apartment-market-trends-2020-q1/ https://www.lasvegasrealestate.com/las-vegas-housing-market-sentiment-4th-quarter-2020/ Read the full article

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Las Vegas Apartment Market Trends Q2 2020

Las Vegas Apartment Market Trends Q2 2020

Las Vegas Apartment Market Trends for Q2 2020. The median apartment rent in the Las Vegas metropolitan area for 2020’Q2 was $1,089. This represents a $5 increase from the previous quarter and a $20 increase from 2019’Q2. Median rents range from $750 in the 89101 zip code to $1,879 in the 89134 zip code. The highest rents continue to be in the western and southern region. However, these regions saw some of the largest year over year decreases in median rents this quarter.

The 2020’Q2 vacancy rate across the entire Las Vegas area, which consists of 200,717 units, was 4.81 percent. This represents a decrease of 1.33 percentage points from the previous quarter and a decrease of 0.55 percentage points from 2019’Q2. The 2020’Q2 vacancy rate ranged from 0 percent in the 89005 and 89044 zip codes, to 12.6 percent in the 89144 zip code. The largest year over year decreases in the vacancy rate came from North Las Vegas while the west side saw some of the largest year over year increases. There are currently 15 apartment projects underway, totaling 3,398 units. Four apartment projects, which total 546 units, are expected to finish by the end of 2020’Q3. All special apartment types saw a year over year increase in median rents. Affordable and age-restricted apartments saw the largest increase as prices increased $136, or 25 percent, year over year. Apartments with an “A+” improvement rating were the only apartment grade to see a significant year over year decrease in median rents as median rents decreased 4.4 percent year over year. Apartments rated “B+” or higher saw year over year decreases in the vacancy rate while nearly all other apartments with a lower improvement rating saw a decrease in the vacancy rate. Las Vegas Apartment Market – Median Rents

Median rents in the Las Vegas metropolitan area ranged from $750 in the 89101 zip code to $1,879 in the 89134 zip code. The lowest rent at a single apartment complex was $362 in the 89102 zip code. The highest rent at a single apartment complex was $2,793 in the 89012 zip code. Three of the top five zip codes with the highest median rent were all located on the west side. The 89141 and 89044 zip codes, both located in the southern area, were the other two zip codes in the top five. Median rent per square foot ranged from $1.03 per square foot in the 89169 zip code to $1.69 per square foot in the 89138 zip code. Median rent per square foot was over 10 percent higher in the 89138 zip code than any other zip code in the Las Vegas metropolitan area as the 89044 zip code had the next highest median rent per square foot at $1.49 per square foot. Seventeen zip codes in the Las Vegas metropolitan area saw a year over year decrease in median rents and 37 zip codes saw a year over year increase in median rents. The 89128 zip code, located in Summerlin, saw the largest decrease in median rents of any zip with a decrease of 9.7 percent. This was the second consecutive quarter where a Summerlin zip code had the largest year over year decrease in median rents. However, median rents in Summerlin decreased by no more than 4.6 percent year over year last quarter. Other large year over year decreases tended to occur on the west and south side, where rents are typically high. Three zip codes located throughout the Las Vegas area saw rent increases of more than 10 percent year over year. The 89134 zip code, which is also located in Summerlin, saw the largest year over year increase with a 15.6 percent increase.   Las Vegas Apartment Vacancy Rates

The vacancy rate ranged from 0 percent in the 89005 and 89044 zip codes, to 12.6 percent in the 89144 zip code. The 89134, 89115, 89115, and 89144 zip codes all had vacancy rates greater than 10.0 percent. Only two zip codes had vacancy rates greater than 10.0 percent in 2019’Q2. Summerlin had the widest range of vacancy rates this quarter. Vacancy rates in Summerlin ranged from 1.4 percent, in the 89145 zip code, to 12.6 percent, in the 89144 zip code. North Las Vegas also continues to see a wide range in vacancy rates among zip codes. The 89086 and 89084 zip codes both had vacancy rates less than 2.5 percent, but the 89130 and 89115 zip codes both had vacancy rates greater than 8.0 percent. Henderson continues to see the lowest vacancy rates of anywhere within the Las Vegas metropolitan area. The 89044, 89015, 89002, and 89183 zip codes all had vacancy rates lower than 3.0 percent. No Henderson zip code had a vacancy rate greater than 7.0 percent. 28 zip codes saw a year over year decrease in the vacancy rate and 26 zip codes saw an increase. The largest year over year decrease was 14.5 percentage points and came from the 89131 zip code, which is in North Las Vegas. North Las Vegas saw three other zip codes with decreases in the vacancy rate of more than 2.0 percentage points. No other region saw multiple zip codes with significant decreases in vacancy rates. The largest year over year increase was 9.6 percentage points and came from the 89141 zip code, which is in the southern region. The next two largest increases came from Summerlin as the 89144 and 89134 zip codes saw increases of about 7.0 percentage points. Las Vegas Apartment Market – Student and Age Restricted Apartments Student apartments continue to have the highest median rent of any special housing type. The median rent for student apartments in 2020’Q2 was $109 more than the Las Vegas median. Affordable and Age-restricted apartments saw the largest year over year increase in median rents with a 25 percent year over year increase. Age-restricted apartments were the only apartment types to see a quarter-to-quarter decrease in median rents with a $2 decrease. Affordable and age-restricted apartments saw the largest quarter over quarter change with 8.3 percent increase. Student apartments and affordable apartments saw quarter-to-quarter increases of less than 2 percent. Age-restricted apartments continue to be the only special apartment type with any vacancy rate. 4,560 apartments were classified as age-restricted and 215 were vacant. This represents an increase of 1 vacant unit from the previous quarter. Under Construction Currently, 15 apartment projects totaling 3,398 units, are underway. This represents a decrease of 665 units from the previous year and a decrease of 1,768 units from the previous quarter. Four apartment projects are expected to finish by the end of 2020’Q3. These projects will bring in an additional 546 units across the Las Vegas metropolitan area. One other project is expected to complete by the end of 2020 and bring in an additional 368 units. The 89148 zip code, located in Southwest Las Vegas, has three projects underway totaling 343 units. The 89052 zip code, located in Henderson, has the most units under construction, as two projects totaling 528 units are underway. North Las Vegas and Summerlin saw a year over year increase in new apartment construction for the second consecutive quarter. Las Vegas saw a decrease in new apartment construction for the second consecutive quarter. To read the entire report for Q2 2020, please click on the link: Apartment Market Trends, Q2 2020 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Center for Real Estate Thank you for reading our post, “Las Vegas Apartment Market Trends Q2 2020.”  For more Las Vegas real estate market news, rentals, rental market data, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. Read the full article

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Apartment Rent Growth in Las Vegas Remains Strong Over National Average

Apartment Rent Growth in Las Vegas Remains Strong Over National Average. JULY 26, 2019|MEGAN CAMBON for CoStar. Republished by LasVegasRealEstate.com for our readers.  Market Stat: Average Asking Rents Reach New Highs Across All Asset Classes

The Las Vegas real estate market is benefiting from a sustained job and population growth this cycle. Population gains in Las Vegas over the past several years are double the national rate, with the bulk of that coming from in-migration, particularly from Southern California. The population influx has kept demand for apartments growing, and rents are spiking as a result. Over the past four quarters, Las Vegas’ apartment rents grew at over 7%, one of the highest figures in the nation. This is more than double the national index of around 3%, and more than triple the metro’s historical average of about 2%. The robust rent growth over the past several years has propelled Las Vegas’ average asking rents to new highs. At the end of the second quarter, asking rents averaged about $1,090 per month, which is approximately 25% higher than their prerecession peak in the region. While the majority of the metro’s existing inventory is comprised of mid-level properties, the bulk of this cycle’s new development has been more high-end units, where rents average around $1,300 per month. Rent gains are solid in these more upscale assets despite the influx of new units, but they still trail the gains being seen in existing stock. The more affordable homes are experiencing more robust demand, with some of the lowest vacancies in the metro when compared to low- or high-end homes, as well as the strongest rent growth across asset classes. Average asking rents for mid-level properties are over $1,025 per month, almost 30% above their prerecession peak. Looking forward, CoStar forecasts that apartment rent growth will likely remain strong in the second half of this year. If the current trend continues, average asking rents in Las Vegas are likely to continue reaching new highs in the market. Thank you for reading our post, “Apartment Rent Growth in Las Vegas Remains Strong Over National Average.”  Thank you to CoStar and Megan Cambone for the original article. For more Las Vegas rental market information, tips on moving to Las Vegas, Las Vegas real estate market news, information on Las Vegas homes for sale, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com. Read the full article

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Las Vegas Apartments Corporation provides Downtown Las Vegas Rentals with modern amenities and affordable housing in all the categories of One bedroom and studio Apartments.

Visit Website:- http://www.lasvegasapartmentsllc.com/