Sunday commentary on housing costs exaggerated local rental costs
I read Mike Mullin’s Sunday commentary, “Nevada needs more affordable housing.” Mr. Mullin claims, “While new supply of multi-family developments is being added to the market, rental rates are at the top end of pricing scale, with one-bedroom apartments in the $1,200 per month range.”
I have no idea where he gleaned this juicy bid of misinformation, but as a property manager and Realtor, I would really like to know. I wish I could get $1,200 for my one-bedroom condo!
I consulted a list of all one-bedroom units currently listed in the multiple listing service. There were a total of 49 one-bedroom units available now in Clark County. Of the 49, only two are listed for $1,200, and both of those are fully furnished. Everything else is far less than the $1,200 that Mr. Mullin would lead you to believe is the average.
