85°F
weather icon Clear
Las Vegas, NV
Homes

National vacancy rates rise; Vegas drops

RjRealEstate.Vegas staff report
October 27, 2015 - 12:42 pm
 

Las Vegas rental vacancy rates are higher than national rates, but the national rate grew in the past quarter while it declined in Southern Nevada.

According to U.S. Department of Commerce's Census Bureau data, the national vacancy rate for the quarter ending in September was 7.3 percent, up from 6.8 percent the previous quarter and from the 7.1 percent reported in March. The high was 11.1 percent in September, 2009 — as the nation was beginning to pull out of recessions.

In Las Vegas, the vacancy rate dropped .1 percent point to 7.9 percent, according to the Lied Institute for Real Estate Studies at UNLV, and it's down 1.3 percentage points year over year. Accordingly, the cost of renting an apartment or house has been growing. (See rental rates rising sharply in Las Vegas Valley and Apartment Market Trends in 3rd Quarter 2015.

So people looking to rent an apartment in Las Vegas may find slimmer pickings and higher costs.

Data is curated by FindTheHome.comand sourced from the U.S. Census Bureau & U.S. Department of Housing and Urban Development.

MOST READ
Don't miss the big stories. Like us on Facebook.
THE LATEST
National research company RealTrends ranked Kristen Routh-Silberman No. 1 Realtor in the state ...
Kristen Routh-Silberman retains No. 1 Nevada Realtor spot
By Buck Wargo Real Estate Millions

Las Vegas luxury Realtor Kristen Routh-Silberman finished No. 39 in the nation among real estate agents with the most dollar transactions in 2024, easily leading the way in Southern Nevada and the rest of the state.

Barbara Holland
Law supports HOA rule that all dogs be on leash
By Barbara Holland RJRealEstate.Vegas

In the State of Nevada and in Clark County, a service or support dog while in public is to be on a leash unless the leash interferes with the individual’s disabilities or with their work.

Verona by Taylor Morrison in Lake Las Vegas showcases three fully furnished model homes, the La ...
Lake Las Vegas welcomes Verona by Taylor Morrison
Provided Content

Lake Las Vegas continues to expand its new home offerings with the debut of Verona by Taylor Morrison, a new home neighborhood featuring two-story homes designed for modern living. Three fully furnished model homes, the Laurel, Magnolia and Maple, are now open for tours at 111 Via Magrini in Henderson.

Lofts, bonus rooms and flex spaces are highly desirable features in a new home, providing flexi ...
Summerlin provides flexible home designs
Provided Content

Lofts, bonus rooms and flex spaces are highly desirable features in a new home, giving homeowners flexibility to designate spaces for work, exercise and extra bedrooms. In the Summerlin master-planned community, where there are more than 100 floor plans in nearly 20 actively selling neighborhoods, optional spaces are abundant throughout many new homes.

To accommodate pool size restrictions, Blue Heron and other local builders are getting creative ...
Luxury pool designers get creative
By Stan Hanel Real Estate Millions

“One cool new design trend we are doing is elevating the pool and/or spa out of ground and incorporating acrylic viewing panels into the water vessel to give a sense of being larger and providing grandeur,” said Terence Thornton, watershape designer and project manager at Ozzie Kraft. “We are incorporating other outdoor living features such as outdoor kitchens, outdoor living rooms with media centers, fire features and play spaces into projects to create amazing spaces for families to enjoy and entertain.”

HOA stalls in removing tree that landed on condo building
By Barbara Holland RJRealEstate.Vegas

If this tree is one that belongs to the association and is located in the common area, the association needs to contact its insurance company to not only remove the tree but also to assess the damages caused by the tree onto any of the homeowners’ units.

MORE STORIES