Apartment Market Trends: According to the latest report from the UNLV CBER-LIED Report on Apartment Market Trends, (1st Quarter 2014) the Las Vegas Apartment Market saw increases in both vacancies and asking rents in the previous quarter. Many of the new vacant units were in areas surrounding the older Downtown and the Sam Boyd Stadium. Vacancy increases in those areas were enough to offset occupany improvements in newer areas however he overall vacancy rate dropped slightly from 2013 levels. The good news is that the trend continues to be downward sloping.
Demand: Also according to the UNLV CBER-LIED Report on Apartment Market Trends report, average vacancy rates for apartments as of the 3rd quarter of 2013 were 9.7% with average rents of $765.00. By the end of the first quarter 2014, about 1,600 more units were left vacant, with an overall vacancy rate of 9.7%.
Other Housing Market Conditions: For a overall housing market overview see the CBER-LIED Report on Housing Market Conditions.