New Industry Report Says Las Vegas Median Apartment Rent Over $2,100
LAS VEGAS, NV – According to a new report released by industry group Construction Coverage, the median apartment rent – that is, the number smack dab in the middle of the average – in the Las Vegas-Henderson-North Las Vegas metro area is just over $2,100 per month, making it the 20th-highest in the United States currently.
The median apartment rent in Vegas is presently $2,107, which illustrates the steady increase in cost-of-living expenses in Southern Nevada recently. However, the region remains far more affordable than many other major metros in the nation.
In particular, the San Jose-Sunnyvale-Santa Clara metro area in California came in at the very top of Construction Coverage’s report, with the median apartment rent there hitting an astonishing $3,811.
Construction Coverage pulled the data used in their report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, and the following is a rundown of the median rental rates for a variety of apartment types in Las Vegas, from the cheapest to the most expensive.
- Median rent among all apartment types: $2,107
- Median rent for a studio apartment: $1,424
- Median rent for a 1-bedroom apartment: $1,598
- Median rent for a 2-bedroom apartment: $1,894
- Median rent for a 3-bedroom apartment: $2,654
- Median rent for a 4-bedroom apartment: $3,075
In addition, the state of Nevada overall placed 11th in the country with a median rent price of $2,031; this is in contrast to the national median rental rate of $1,865. Meanwhile, the top five states with the highest median rental rates are Hawaii at $2,909, followed by California at $2,803, Massachusetts at $2,461, New York at $2,335, and Washington at $2,295.
According to the report, the number of states whose median monthly rent exceeded $2,000 last year was nine; in 2024, that number increase to 12.
Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.