Las Vegas apartment rents are climbing faster than the national average, but the valley’s low vacancy rate is also inching up.
The Las Vegas Review-Journal reportsthat Southern Nevada apartment tenants are paying an average of $989 per month this quarter, up 5.4 percent from a year earlier.
Meanwhile, the vacancy rate of 3.2 percent is tied for sixth-lowest among the 79 metro areas listed in a new report, and well below the national average of 4.7 percent.