Monthly Las Vegas Rental Report: How Much Can Landlords Expect for Rent? (August 2026)

LAS VEGAS, NV – Southern Nevada’s rental market remained active in July, with more properties leased, a sharp increase in new rental listings and a modest increase in the median price of completed leases. According to newly released data from the Las Vegas REALTORS® residential rental market, 2,199 residential rental units were leased during July, up 3.5 percent from June and 6.6 percent from one year ago.

The median price of residential rental units leased in Southern Nevada increased to $2,100 per month, up from $2,050 in June and $2,095 one year ago. That represents a 2.4 percent monthly increase but only a 0.2 percent increase from July 2025, pointing to remarkably stable rental pricing on a year-over-year basis.

The average price of units leased moved in the opposite direction, falling to approximately $2,384 per month from $2,742 in June. That 13.1 percent monthly decline largely reverses the unusual increase recorded in the previous report, when higher-priced leases appeared to push the average substantially above the median. The July average was also 1.7 percent below its year-ago level.

New rental inventory also increased considerably during the month. Approximately 2,199 new residential rental units were listed in July, up 14.8 percent from 1,915 in June. Compared with July of last year, however, new listings were down 3.6 percent.

June’s spike in average rent proves temporary

One of the biggest questions coming out of the previous monthly report was whether June’s sharp increase in average lease pricing represented the beginning of a broader trend or simply an unusually strong month for higher-priced rentals. July’s numbers provide some additional clarity.

Average lease pricing fell from $2,742 to $2,384 in July even as the median increased from $2,050 to $2,100. That combination suggests June’s unusually high average was more likely influenced by the mix of properties leased during the month rather than a broad increase in rental values throughout Southern Nevada.

The longer-term numbers reinforce that interpretation. Over the trailing 12 months, the median price of leased residential rentals was $2,002, unchanged from the comparable period one year earlier. The trailing 12-month average was $2,257, up just 0.9 percent from $2,236 a year earlier.

More rentals hit the market in July

For landlords, one of the more important developments in the July report may be the increase in new rental listings. The 2,199 properties newly listed during July represented a 14.8 percent increase from June.

More available properties can mean additional choices for prospective tenants and greater competition among landlords, particularly when multiple comparable homes are available within the same neighborhood and price range. At the same time, leasing demand remained healthy: the 2,199 properties leased during July represented a 6.6 percent increase from the same month last year.

It is worth noting that the number of new listings and completed leases happened to be identical in July at 2,199 each. These figures measure different types of monthly activity and should not be interpreted as meaning every newly listed property was leased during the month, but they do illustrate the level of activity taking place across Southern Nevada’s residential rental market.

Longer-term rental prices remain remarkably stable

Looking beyond a single month helps smooth out changes caused by the particular mix of homes leased during any given period. On a trailing 12-month basis, Southern Nevada recorded 24,055 residential rental leases, compared with 24,181 during the comparable period one year earlier, a difference of just 0.5 percent.

Pricing showed similar stability. The trailing 12-month median remained exactly $2,002, while the average increased only slightly from $2,236 to $2,257. For landlords, those figures suggest a rental market that remains active but is no longer producing the rapid, broad-based rent increases seen during earlier periods.

What this means for Las Vegas landlords

July’s numbers present a fairly balanced picture for Southern Nevada property owners. More homes were leased than during either the previous month or the same month last year, demonstrating continued tenant demand. At the same time, the substantial monthly increase in new listings means renters may have more properties to consider when searching for a home.

That environment makes accurate pricing increasingly important. Setting an asking rent substantially above comparable properties can extend vacancy time, while pricing too aggressively below the market can unnecessarily reduce an owner’s rental income. Property condition, neighborhood, home size, amenities and competing rental inventory should all be considered when determining an appropriate asking price.

The July report also demonstrates why landlords should be cautious about relying on a single market average when estimating what their own property may rent for. June’s $2,742 average dropped by more than $350 the following month, while the median moved only $50. Individual property values can vary considerably depending on the type and location of the home and the mix of properties currently competing for tenants.

Heading into the latter part of summer, Southern Nevada’s rental market continues to show healthy leasing activity and relatively stable longer-term rental pricing. For landlords, the combination of steady demand and increased monthly listing activity makes competitive pricing, effective marketing and minimizing unnecessary vacancy increasingly important.

For homeowners unsure how much their property may rent for in today’s market, a customized rental analysis based on comparable properties, neighborhood trends, property condition and current competition can provide a more accurate estimate than relying solely on regional averages.

Data Source: Las Vegas REALTORS® Residential Rental Market Data for Southern Nevada, July 2026, through LVRdata.com, a collaborative effort between Las Vegas REALTORS® and Las Vegas-based Applied Analysis.

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.