Boulder Pines Family Apartments on Boulder Highway in Las Vegas on Friday, Feb. 2, 2018. (Patrick Connolly/Las Vegas Review-Journal) @PConnPie
Badlands owners take fight with Las Vegas council to federal court
Home values growing in Las Vegas Valley
Poor face affordable housing crisis in Las Vegas Valley
Badlands developer has string of lawsuits against Las Vegas
Las Vegas apartment rents are climbing faster than the national average, but the valley’s low vacancy rate also is inching up, a new report shows.
Southern Nevada apartment tenants are paying an average of $989 per month this quarter, up 5.4 percent from a year earlier, according to figures released Wednesday by New York research firm Reis Inc.
Nationally, monthly rents climbed 3.9 percent in that time, to $1,318.
Rental amounts do not include landlord concessions.
Las Vegas’ vacancy rate, 3.2 percent, is tied for sixth-lowest among the 79 metro areas listed in the report and well below the national average of 4.7 percent.
The local rate was up from 3.1 percent a year ago, while the U.S. rate was up from 4.3 percent.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.