September 26, 2017 - 10:37 am
Las Vegas’ apartment vacancy rate rose in recent months but still is among the lowest in the country, a new report shows.
The Las Vegas-area’s apartment market has a 3.1 percent vacancy rate, according to preliminary third-quarter findings released Tuesday by research firm Reis Inc.
That was up from 2.8 percent in the second quarter but still ninth-lowest among the 79 metro areas listed in the report. Nationally, the vacancy rate is 4.5 percent, up from 4.4 percent in the second quarter.
Still, rental rates are cheaper locally than in other cities.
Tenants pay an average of $956 per month in the Las Vegas area, up 0.7 percent from the second quarter.
That’s compared to the U.S. average rent of $1,295, up 0.9 percent, Reis reported.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.