Las Vegas Nevada Among Top 3 Major Metros Where Rent is Dropping the Most
LAS VEGAS, NV – According to a new Realtor.com report, with the high costs associated with purchasing a home leaving that option out of reach for many, the rental market is becoming a more attractive alternative in terms of affordability. Prices have been going down in that particular market, with 0–2 bedroom properties showing consistent year-over-year rent reductions for the past 25 months.
This especially holds true in major metropolitan areas, where the cost-of-living can often be significant; as per the Realtor.com report, the median rent in the nation’s 50 largest metros as of August 2025 was $1,713, which represents a 2.6 percent decrease – about $46 – from the all-time record high that was achieved back in August 2022.
The top three metros that have seen the biggest rent decreases since their respective peaks are Las Vegas, Nevada, with a 13.6 percent drop; Atlanta, Georgia, which ties Vegas at 13.6 percent; and Austin, Texas, where rents are down 13.4 percent.
Experts say this represents significant rental opportunities in those three markets for those who are not currently looking to buy a home, according to Realtor.com economist Jiayi Xu.
Las Vegas, Austin, and Atlanta saw the largest rent declines from their peaks due to rapid rent growth during the [COVID-19] pandemic, when many people moved to warm Sun Belt areas, creating a high starting point for corrections,” he said.
Las Vegas’ August median rent was $1,443, which is much lower than its record high of $1,671 originally reached in June 2022.
Robert Little, real estate associate at Re/Max Advantage in Henderson, NV, said that Las Vegas remains a rock-solid market for renters due to numerous factors, including an affordable cost-of-living and a great job market that is responsible for an influx of new residents to the region.
The rental market here has remained strong for as long as I can remember, and I’ve been licensed since 2007,” he said. “I believe this stability is tied to Clark County’s continued growth. Over the past year alone, the county added a net increase of about 50,000 residents, which is up 2.1 percent from the year before.”
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management