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Las Vegas NV Area September 2008 Rental Home Report

Las Vegas Area Rental Homes

September proved to be another disappointing month for Las Vegas Area landlords.  Luckily October's numbers are a little higher than normal and October (heads up, already have these pulled) makes it look very promising!  Renters are becoming buyers finally as prices drop!

Units Leased:

  • September 2008:  1531
  • August 2008:  1719
  • July 2008:  1697
  • June 2008 1564
  • May 2008:  1554
  • April 2008:  1536
  • March 2008:  1531 
  • February 2008:  1632 
  • January 2008:  1500 
  • December 2007:  1156 
    November 2007:  1452
    October 2007:  1501
    December 2006:  1052
  • January 2007:  1262 

Average Monthly Rental Rates:

  • September 2008:  $1610
  • August 2008:  $1464
  • July 2008:  $1510
  • June 2008:  $1503
  • May 2008:  $1483
  • April 2008:  $1467
  • March 2008:  1342 
  • February 2008:  2788 
  • January 2008:  $1500 
  • December 2007:  $1531 
  • November 2007:  $1493
  • October 2007:  $1511
  • January 2007:  $1295

Median Monthly Rental Rates:

  • September 2008:  $1250
  • August 2008:  $1250
  • July 2008:  $1250
  • June 2008:  $1275
  • May 2008:  $1250
  • April 2008:  $1250
  • March 2008:  1200
  • February 2008:  1200 
  • January 2008:  $1200 
  • December 2007:  $1295 
  • November 2007:  $1200

Absorption Rate is stable from last month and remains a Landlord's Market at 3.2 months of inventory in the Rental Sector for the Las Vegas Valley. 

How to check to see if the home you are renting is in default

Last Month's Report 

If you would like to rent a home in the Las Vegas Area please call 702-966-2494 and press option 2 to speak with a rental specialist.

If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0.

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Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 3 commentsRenée Burrows • November 21 2008 09:47AM
Las Vegas NV Area September 2008 Rental Home Report
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September proved to be another disappointing month for Las Vegas Area landlords. Luckily October's numbers are a little higher than normal and October (heads up, already have these pulled) makes it look very promising! Renters are becoming… more