Las Vegas Rental Market Statistics 2021 – 2022
The Las Vegas valley has strong rental demand and we are seeing increased rental prices. Our rental market is active. Entry level rental homes in the Las Vegas valley begin around $1,500/mo and there is strong demand for rentals upwards of $6,000/mo for armed guard gated Red Rock Country Club in Summerlin.
“We have a lot of people coming in from other states that are able to work from home,” Susy Vasquez, executive director of the housing association, said in an interview. “That really is what’s pushing rents, is the ability to work from home and the number of people that are coming to Nevada because it is cheaper to live here than in the surrounding states.”
Current Stats: 130 new Nevada residents every day which equates to 5.4 new Nevada residents per hour! Where are these people coming from? 44% are coming from California along with 4.4% from Florida, 4% from Arizona, 4% from Texas and 3.8% from Washington.
Below are four real world examples of houses recently rented across the Las Vegas Valley…from $1,700/mo to $5,000/mo.
Example of a high-end rental recently rented on TPC Las Vegas golf club in for a record breaking $5,000/mo. Rent comps were $3,500 but because of increased demand and decreased supply we were able to secure a quality tenant at $1,500 over market:.
Las Vegas Investment Property Example # 2
Westwood Village neighborhood: 204 Thurston Street Henderson 89074
- Market rent – $1700/mo
- Market value – $350k
- est. taxes – $140/mo
- Insurance – $45/mo
- HOA – $15/mo
- Mgmt – $136/mo
Las Vegas Investment Property Example # 3
Green Valley Ranch: 1979 Thunder Ridge Circle Henderson 89012
- Market rent – $2200/mo
- Market value – $450k
- est. taxes – $175/mo
- Insurance – $55/mo
- HOA – $63/mo
- Mgmt – $176/mo
Las Vegas Investment Property Example # 4
Red Rock Country Club (guard gated): 1990 Country Cove Ct. Las Vegas 89135
- Market Value – $1,000,000
- Market rent – $5000/mo
- Taxes – $770/mo
- Insurance – $120/mo
- HOA – $245/mo
- Mgmt – $400/mo
Our Commitment to Las Vegas Property Management
With more than 30 years of investment real estate & property management experience we understand the needs of our clients no matter where they are in the investment cycle. Whether you’re buying, selling, or looking for full service property management we will put our resources and experience to work and drive your profitability. Unlike our competitors who are transactional in their approach, Rice Real Estate & Property Management is known for the caliber of service we offer our clients. Through excellent communication, personalized service and our company’s high standards we have earned the long-term respect of property owners.
Founded in 2010, Rice Real Estate is Las Vegas’ premier investment sales and property management company with over $50 million of residential real estate assets under management. Our firm has crafted a culture designed around full transparency, reliable communication, and efficiencies for both owners and tenants. Furthermore, our policies and procedures allow us to effectively optimize a property’s performance and profit while nurturing Tenant relations to keep long-term tenants.
We are investment property specialists and use a process-driven approach to increase efficiencies, reduce risk and drive performance and profitability. We are experts in our field and selective when it comes to new partnerships, adding only select properties each year in order to provide the highest level of attention to each one. Our company voice reflects the high standards we demand of ourselves and we deliver these high standards to you with quality property management. Our team is driven to safeguard our client’s property and bottom line at all times.
Our firm is responsive. We work hard to quickly turn properties over and find quality tenants. We understand each day a house is vacant equates to lost rental income. We are always strive to increase owner profit while focusing on preserving the integrity of your investment. Our efficient vendor accounts payable strategy provides us priority scheduling and preferred pricing. In addition, our team responds to emails and phone calls timely, tenant maintenance requests are handled promptly and Owners have 24/7 access to an encrypted online portal for financial reports and secure document storage. We make sure to be informative and transparent every step of the way. We manage with an owner’s mindset.