65°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
An $8.8 million sale at the Waldorf Astoria for a corner penthouse led Las Vegas August high-ri ...
Vegas high-rise prices continue to increase
By Buck Wargo Real Estate Millions

The high-rise condo market recorded its second highest average sales price in history during the second quarter and is off to a strong start in the third quarter with an $8.8 million sale at the Waldorf Astoria, the estate of Elaine Wynn selling her unit in Park Towers for $8.25 million and a condo in the Summit Club selling for $7 million. All three sales were in August.

Kent Lay
D.R. Horton ranked No. 1 homebuilder in July
By Buck Wargo RJNewHomes.Vegas

D.R. Horton was the top-selling builder in July as the industry brought more than 750 lots into the market as the size of new home plans grew bigger.

This artist's rendering shows what Heritage Homes' custom residences will look like in its new ...
Luxury builders open new developments
By Buck Wargo Real Estate Millions

Led by an emerging luxury custom-home community in Summerlin called Ascension, Las Vegas homebuilders have sold 47 percent more homes during the first half of 2025 priced at $1 million and higher.

Woodside Homes has opened Acacia at Cadence. The grand opening will be held during a family-fri ...
Woodside Homes opens Acacia in Cadence
Provided Content

Woodside Homes is celebrating the grand opening of its newest neighborhood, Acacia, with a family-friendly fall carnival at Cadence. The event is set for Aug. 30, from 10 a.m. to 2 p.m. at Acacia, 264 Taylor St.

A Jack Russell terrier dog is waiting for the owner of house. Gina Borge, senior interior desig ...
Pets play role in shaping luxury home design
Valerie Putnam Real Estate Millions

Integrating pet-friendly amenities into luxury residences has become increasingly popular, reflecting a shift in the perception of our beloved animals — as cherished family members who deserve special attention and pampering.

MORE STORIES