Have Las Vegas Rents Gone Up? Two Years of Rent Data

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Are Las Vegas Rents Going Up or Down?

By The Rental Lister · Published November 11, 2026 · Data: Zillow (September 2026), Apartment List (October 2026), U.S. Bureau of Labor Statistics (October 2026), U.S. Census Bureau (2025), UNLV Lied Center

In the two years to September 2026, Zillow’s index of Las Vegas asking rents for single-family houses rose 3.1% to a record $2,246, while its apartment index fell 0.5%. Apartment List’s index of signed apartment leases fell 4.7% from October 2024 to October 2026.

Key Numbers

• +3.1%Zillow single-family asking rents, Las Vegas metro, September 2024 to September 2026; now $2,246Zillow Observed Rent Index
• −0.5%Zillow apartment asking rents over the same two years; still 4.6% below the May 2022 peakZillow Observed Rent Index
• −4.7%rents on signed Las Vegas apartment leases, October 2024 to October 2026Apartment List; our calculation
• +1.2%rent paid by all tenants in the Mountain states, October 2024 to October 2026; U.S. +6.1%BLS consumer price index

Every Index, Side by Side

These indexes measure different things, so we show them side by side and never average them.

$0 $500 $1,000 $1,500

$1,187

$1,739

$1,711

201920212022202320242025

No standard 1-year estimates were published for 2020. The 2024 to 2025 change is within the margin of error. Source: U.S. Census Bureau, American Community Survey 1-year estimates, table B25064.

Rent paid by all Clark County renters rose 44% from 2019 to 2025, with the biggest jump from 2022 to 2023 (+11.4%). It has been flat since 2024. Because most households are partway through a lease, this measure moves slowly.

Why the Indexes Disagree

• Asking or signed. Zillow tracks asking rents on listings. Apartment List tracks rents on leases actually signed, which reflect discounts.
• Same homes or whatever is listed. Zillow and Apartment List compare the same homes over time. A listing average, such as UNLV’s, moves with the mix of homes on the market that quarter.
• New leases or all leases. The BLS index and the Census median cover every tenant, including those mid-lease, so they lag the market.
• Houses or apartments. Apartment List covers apartments only. Zillow publishes houses and apartments separately.
• No Las Vegas price index. BLS does not publish a consumer price index for Las Vegas (BLS metro list), so the nearest official rent series is the Mountain states division.

Houses and Apartments Went Different Ways

On Zillow’s index, Las Vegas house rents reached a record in September 2026 while apartment rents stayed below their 2022 peak. The gap between them widened: houses rented for 44.8% more than apartments in September 2024 and 50.1% more in September 2026 (our calculation from Zillow’s figures).

Apartments are competing hard. In October 2026, 54.7% of Las Vegas apartment properties on Apartment List offered at least one month free, against 32.0% nationally. UNLV’s average of advertised house rents tells a different story from Zillow, down 13.8% from mid-2024. That average moves with which homes happen to be listed, while Zillow compares the same homes over time.

Sitting Tenants and New Tenants

The two largest single-family landlords report rents on their own Las Vegas homes. In the third quarter of 2026, Invitation Homes raised Las Vegas renewals by 3.8% on average while rents on new leases fell 2.3% (company report). At American Homes 4 Rent, Las Vegas renewals rose 2.8% and new leases on previously rented homes rose 1.4% (company report). These are two companies’ homes, not the market, but they show renewing tenants paying more while new-lease rents stalled.

Las Vegas Against the Nation

Las Vegas rents have risen more slowly than rents nationally. Over the two years to September 2026, Zillow’s all-homes index rose 1.1% in Las Vegas against 5.1% for the U.S. Over the two years to October 2026, rent paid by all tenants rose 1.2% in the Mountain states and 5.3% in the West, against 6.1% nationally (BLS).

What This Means for Owners

• Price to today’s market, not to a 2022 or 2024 number. Apartment rents are below their peak and new-lease pricing has softened. A free rental analysis prices your home from current comparables.
• Houses have held up better than apartments. Single-family asking rents are at a record on Zillow’s index, but apartments are using free months to compete for the same renters.
• Keeping a good tenant has paid. At the big landlords’ Las Vegas homes, renewals rose while new leases fell. Nevada’s notice rules for a renewal increase are in our guide to rent increase notices.
• No index predicts the rent one home will get. Location, condition, size and timing matter more than a metro average.

Method and Sources

Zillow figures are its Observed Rent Index for the Las Vegas metro, smoothed and seasonally adjusted, from the files posted October 16, 2026 (methodology). Zillow revises its whole history each month, so figures from earlier downloads can differ; we will update this page when new files post. Apartment List figures are from its October 2026 rent estimates (updated October 28, 2026); the two-year change is our calculation from rounded dollar figures. BLS figures are the consumer price index for rent of primary residence, not seasonally adjusted, October 2026 (released November 10, 2026). BLS is not publishing 12-month changes for October 2026, because October 2025 rent data was not collected during the federal funding lapse (BLS); the two-year comparison uses October 2024, which was collected. Census figures are American Community Survey 1-year estimates.

• Zillow Observed Rent Index, single-family, Las Vegas metro (CSV): files.zillowstatic.com/research/public_csvs/zori/Metro_zori_uc_sfr_sm_sa_month.csv
• Zillow Observed Rent Index, apartments (CSV): files.zillowstatic.com/research/public_csvs/zori/Metro_zori_uc_mfr_sm_sa_month.csv
• Zillow Observed Rent Index, all homes (CSV): files.zillowstatic.com/research/public_csvs/zori/Metro_zori_uc_sfrcondomfr_sm_sa_month.csv
• Apartment List rent estimates and concessions: www.apartmentlist.com/research/category/data-rent-estimates
• BLS CPI rent of primary residence, Mountain division: data.bls.gov/timeseries/CUUR0480SEHA
• BLS CPI rent of primary residence, West region: data.bls.gov/timeseries/CUUR0400SEHA
• BLS CPI rent of primary residence, U.S. city average: data.bls.gov/timeseries/CUUR0000SEHA
• Census ACS median gross rent (B25064), Clark County: data.census.gov/table/ACSDT1Y2025.B25064?g=050XX00US32003
• UNLV Lied Center, Lied Research Report Vol. 3 No. 4, July 2026: liedcenter.unlv.edu/wp-content/uploads/2026/07/The-Lied-Research-Report-Volume-3-Issue-4.pdf

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