LAS VEGAS (KLAS) — Rent increases in Nevada, including the Las Vegas valley, have been relatively mild over the past year when compared with other states in the Rocky Mountain region, according to a recent report.
Las Vegas, Henderson and North Las Vegas are nothing like what’s going on in Boulder, Colorado, for example, according to Rentometer, an online rental comparison service.
Boulder rents for a three-bedroom, single-family residence over the past year are up 25% and up 8% from the second quarter of 2022, Rentometer’s most recent analysis says. Average Boulder rent for the third quarter is $3,720 according to the report.
Las Vegas rent is up 6% from a year ago, with an average of $2,219, Rentometer says. Henderson rent is up 9% from a year ago, averaging $2,442; North Las Vegas is up 11%, averaging $2,080.
Quarter-over-quarter increases for each community: Las Vegas and North Las Vegas are up 3% from the second quarter, Henderson 7%.
The report shows rents in Reno ($2,672 average) and Sparks ($2,366) up 5% from last year. The quarter increase for Reno is 2%. Sparks experienced a 1% decline from the second quarter of this year.
Regionally, Colorado had five cities with double-digit increases from year ago, including Fort Collins at 20% and Denver and Colorado Springs, each at 15%.
Nationwide, Orlando, Florida, came in with the highest yearly rent increase, up 32%, followed by Nashville, Tennessee, at 24%.
Atlanta had the highest jump from the previous quarter, 21%, followed by Nashville, 17%.
The report covered single-family residences in 268 cities, finding that 99% had increases from a year ago, with 75% in double digits. Rentals less than $500 monthly and more than $10,000 were excluded from the survey.