Las Vegas Real Estate News

LAS VEGAS, NV – The latest rental market figures for May 2026 show that the Las Vegas Valley rental market remains active, with average lease pricing moving higher even as renters continue to gain additional choices throughout Southern Nevada.

According to newly released data from Las Vegas REALTORS®, the average price of residential rental units leased in Southern Nevada reached approximately $2,284 per month in April 2026, representing a 7.5 percent increase from the prior month and a 3.2 percent increase compared to one year ago. Meanwhile, the number of residential rental units leased declined modestly month-over-month to approximately 2,111 units, though activity remained slightly above year-ago levels.

At the same time, broader rental market data from Zumper places the median rent across all bedroom counts and property types in Las Vegas at approximately $1,890 per month as of May 2026. Zumper reports that rents in Las Vegas increased roughly 1 percent over the past month, while remaining slightly below year-ago levels.

What The May Numbers Show

Taken together, the latest figures suggest that the Las Vegas rental market is continuing to transition toward a more balanced environment in 2026. While MLS data shows average lease pricing moving upward during April, the increase in available rental inventory throughout the valley appears to be giving tenants greater flexibility when comparing properties and negotiating lease terms.

The latest MLS report also shows that the number of newly listed residential rental units increased to approximately 1,752 new listings in April, up 2.2 percent from the previous month. This ongoing rise in inventory is contributing to a more competitive landscape for landlords, particularly in areas where apartment construction and single-family rental availability have expanded.

By Bedroom And Property Type

While MLS figures primarily reflect overall leasing activity, apartment-specific data from Apartments.com continues to provide additional insight into pricing trends by unit size across the Las Vegas market.

As of May 2026:

• Studios average roughly $994 per month
• One-bedroom apartments average approximately $1,281
• Two-bedroom units average around $1,542
• Three-bedroom apartments average approximately $1,853

These figures continue to highlight the pricing gap between entry-level apartment units and larger rental homes or luxury properties throughout Southern Nevada. Single-family residences and newer suburban communities generally command significantly higher rents, particularly when offering upgraded interiors, larger floor plans, or desirable amenities.

Month-Over-Month And Year-Over-Year Trends

From a month-to-month perspective, the Las Vegas rental market showed mixed movement during April. MLS data indicates that average leased rental pricing increased sharply from March levels, while the number of completed lease transactions declined modestly. At the same time, median rental pricing remained relatively stable at approximately $2,000 per month, suggesting that higher-end properties may have contributed disproportionately to the increase in average pricing.

Meanwhile, Zumper’s broader citywide data suggests that overall rental pricing in Las Vegas continues to remain relatively stable compared to national trends, with rents still below the national median despite modest monthly increases.

What This Means For Las Vegas Homeowners

For homeowners considering renting out a property in 2026, the May data points to a market that remains healthy but increasingly competitive. Properties that are properly priced, well-maintained, and located in desirable neighborhoods continue to attract tenant interest throughout the valley. However, with more rental listings entering the market and renters gaining additional choices, pricing strategy has become increasingly important.

Homes priced too aggressively relative to nearby comparable properties may experience longer vacancy periods or require reductions before securing qualified tenants. For property owners unsure where their home fits relative to current market conditions, a free custom rental analysis based on neighborhood trends, property condition, size, and nearby comparable listings can often provide a more accurate estimate than broad regional averages alone.

Data sources: Las Vegas REALTORS® residential rental market data for Southern Nevada (April 2026) provided through LVRdata.com in partnership with Applied Analysis and SalesTraq. Additional rental market trends and pricing data from Zumper and Apartments.com.

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.

LAS VEGAS, NV – A growing number of rental listings across Las Vegas are beginning to reshape the local housing landscape, giving tenants more choices while placing increased pressure on landlords to remain competitive.

New data and on-the-ground market activity suggest that rental inventory has expanded notably in recent months, contributing to a shift away from the tight, landlord-favored conditions that defined much of the post-pandemic period.

Inventory Growth Is Driving a Market Shift

According to our April 2026 Monthly Las Vegas Rental Report, the number of available rental units has been trending upward, even as leasing activity remains strong.

The report highlights a key dynamic:

• More rental listings are entering the market
• At the same time, tenant demand remains active
• The result is a more balanced and competitive environment

Data from Las Vegas REALTORS® shows that while average rents declined modestly by 1.9 percent month-over-month and 4.0 percent year-over-year, the number of leased units actually increased during the same period. This combination points to a market where pricing adjustments and increased supply are helping to facilitate more transactions.

More Options for Renters

For tenants, the increase in inventory translates directly into greater flexibility. With more listings available across different property types and price points, renters are finding it easier to:

• Compare properties
• Negotiate lease terms
• Secure housing without the urgency seen in previous years

Additional data from Zumper supports this trend, placing the median Las Vegas rent at approximately $1,810 per month as of April 2026, still below year-ago levels despite slight short-term fluctuations.

Why Inventory Is Increasing

Several factors appear to be contributing to the rise in available rental units:

• New construction deliveries adding apartment supply to the market
• Homeowners choosing to rent rather than sell amid higher interest rates
• Regulatory shifts affecting short-term rentals, pushing some properties into the long-term market

Together, these influences are expanding the pool of available housing, particularly in suburban areas and newer developments.

What It Means for Property Owners

While demand for rental housing remains steady, the increase in supply is creating a more price-sensitive environment.

Property owners are now facing:

• Greater competition from similar listings
• Longer vacancy risks for overpriced units
• Increased importance of presentation and marketing

As noted in the Shelter Realty Property Management April report, homes that are priced in line with current conditions and presented well continue to lease efficiently. However, those entering the market at aggressive price points may require adjustments to attract qualified tenants.

A More Balanced Market Emerges

The latest data suggests that the Las Vegas rental market is not weakening, but rather normalizing. After several years of rapid rent growth and limited availability, the current environment reflects a healthier balance between supply and demand. Renters are benefiting from increased choice, while landlords must adapt to a more competitive landscape. If current trends continue, this shift toward equilibrium could define the Las Vegas rental market throughout the remainder of 2026.

Data sources: Las Vegas REALTORS® MLS rental market data (March 2026), Zumper Las Vegas rent research (April 2026), and Shelter Realty April 2026 Rental Market Report.

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.

LAS VEGAS, NV – The latest rental market figures for April 2026 show a market that remains active across the Las Vegas Valley, even as pricing continues to soften slightly. According to new data from the Las Vegas REALTORS® Multiple Listing Service (MLS), the average rent for residential units leased in Southern Nevada came in at approximately$2,125 per month in March, representing a 1.9 percent decrease from the prior month and a 4.0 percent decline compared to one year ago.

Meanwhile, Zumper’s latest data places the median rent across all bedroom counts and property types in Las Vegas at $1,810 per month, reflecting a slight increase over the past 30 days but still below year-ago levels and the national median, reinforcing Las Vegas’ position as a relatively affordable large metro rental market.

What the April numbers show

Taken together, these figures suggest that the Las Vegas rental market is experiencing a period of balance, where demand remains strong but pricing has not kept pace. MLS data shows that while average rents have declined modestly, the number of units leased increased significantly month-over-month, pointing to continued renter activity throughout the valley.

At the same time, the number of new rental listings has also increased, giving tenants more options and helping to keep upward pressure on rents in check. This combination of rising supply and strong leasing activity is contributing to a more competitive and normalized market environment compared to the rapid rent growth seen in prior years.

By bedroom and property type

While MLS data focuses on overall leasing activity, apartment-specific data from Apartments.com continues to provide insight into pricing by unit size across the Las Vegas market as of early 2026:

• Studios average roughly $1,000 per month
• One-bedroom apartments average about $1,285
• Two-bedroom units average around $1,540
• Three-bedroom apartments average approximately $1,850

These figures highlight the continued spread between smaller, entry-level rental units and larger homes or multi-bedroom properties. Single-family residences and newer construction properties in suburban areas typically command higher rents, particularly when offering upgraded interiors or desirable neighborhood amenities.

Month-over-month and year-over-year trends

From a month-to-month perspective, MLS data shows that the average rent declined by 1.9 percent from February to March, while the total number of leased units rose sharply, indicating that pricing adjustments may be helping to drive increased activity. Year-over-year, average rents are down approximately 4.0 percent, confirming that the market remains below the peak levels seen in early 2025.

Zumper’s data supports this trend, with the citywide median rent remaining below year-ago levels despite modest gains in recent weeks. Together, these indicators suggest that while demand remains steady, renters continue to benefit from increased inventory and more negotiating power than in previous years.

What this means for Las Vegas homeowners

For homeowners considering renting out a property in 2026, the April data points to a market that is active but price-sensitive. Properties are continuing to lease at a healthy pace, but achieving optimal pricing requires careful alignment with current market conditions.

Homes that are well-presented, competitively priced, and located in desirable areas are still attracting strong interest. However, with more listings entering the market and tenants having additional choices, properties priced too aggressively may experience longer vacancy periods or require reductions to secure a lease.

For property owners unsure where their home fits relative to current averages, a free custom rental analysis based on neighborhood, property size, condition, and nearby comparable listings can provide a more accurate estimate than broad market averages alone.

Data sources: Las Vegas REALTORS® MLS rental market data for Southern Nevada (March 2026), Zumper Las Vegas rent research (updated April 2026), and apartment rental trends from Apartments.com as of early 2026.

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.

LAS VEGAS, NV – A policy discussion taking shape in Nevada could have implications for how real estate investors structure property ownership in the Las Vegas housing market, as lawmakers examine whether a long-standing tax exemption should be revised or eliminated.

The issue centers on the growing share of homes owned by corporate entities and investment groups across Southern Nevada. Housing data referenced in multiple reports suggests that investors account for a notable portion of the region’s single-family housing stock, with estimates generally ranging from the mid-teens to around one-fifth of all homes.

Investor activity has also played a visible role in recent transaction trends. In certain periods over the past several years, analysts have found that investors represented a significant share of home purchases in the Las Vegas area, at times approaching a quarter or more of total sales volume. That level of participation has drawn attention from policymakers as affordability concerns continue across the region.

At the center of the current debate is a provision in Nevada’s tax structure that applies to certain real estate investment arrangements. According to regional reporting, some large property owners may be able to transfer or restructure holdings between affiliated entities without triggering the same level of tax exposure that would typically apply to traditional real estate transactions.

Lawmakers are now evaluating whether that framework should be adjusted. Proposals under discussion have focused on closing or narrowing the exemption, which could increase tax obligations tied to certain property transfers and generate additional public revenue.

Supporters of revisiting the policy argue that changes could help fund programs tied to housing and education, while also increasing transparency around large-scale property ownership. Others caution that any revisions must be carefully structured to avoid unintended consequences across the broader real estate market, including impacts on transaction flow, financing, and smaller-scale investors who may use similar ownership structures.

The discussion is unfolding at a time when Southern Nevada continues to face housing supply constraints. Federal and state estimates have pointed to a sizable shortfall in available affordable housing units, while elevated home prices and borrowing costs have made entry into homeownership more challenging for many residents.

At the same time, demand for rental housing remains strong, supported by ongoing population growth and economic activity in the Las Vegas Valley. That dynamic has contributed to continued investor interest in the market, particularly among those focused on long-term rental strategies.

Previous legislative efforts in Nevada have included a 2023 proposal to cap the number of homes large corporate investors could purchase annually, though the measure ultimately failed to advance amid legal and economic concerns. Lawmakers have also supported efforts to increase transparency around institutional ownership and bulk home purchases, reflecting ongoing interest in how investor activity is shaping the housing market.

Focusing on tax policy instead represents a more targeted approach, though its ultimate impact remains uncertain. Real estate analysts note that investors in the Las Vegas market range from large institutional firms to smaller local operators, and any changes to tax treatment would likely affect different groups in different ways depending on how properties are held and managed.

More broadly, housing experts continue to point out that investor activity is only one component of a larger set of market forces. Supply limitations, construction costs, migration patterns, and interest rates all play significant roles in shaping both home prices and rental demand.

As the legislative process moves forward, investors and property owners will be watching closely to see how any proposed changes are defined and implemented. While adjustments to the tax framework could influence how deals are structured, the overall direction of the Las Vegas housing market will likely continue to be driven by a combination of economic growth and ongoing supply challenges.

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.

LAS VEGAS, NV – The latest rental market figures for March 2026 show that rents across the Las Vegas Valley are holding relatively steady as the spring leasing season begins. According to Zillow, the average rent for all bedrooms and all property types in Las Vegas currently stands at about $1,935 per month, representing an increase of roughly $40 month-over-month, though it remains about $60 lower than a year ago.

Meanwhile, Zumper’s latest data places the median rent across all bedroom counts and property types at $1,802 per month, approximately 3 percent lower year-over-year and about $98 below the national median, reinforcing Las Vegas’ position as a relatively affordable large metro rental market compared to many U.S. cities.

What the March numbers show

Taken together, these figures suggest that the Las Vegas rental market has largely stabilized following the gradual cooling that occurred throughout much of 2025. Zillow’s average rent figure holding near $1,940 indicates that advertised asking rents have leveled off rather than continuing the declines seen late last year.

At the same time, Zumper’s median rent of $1,802 shows that the broader market remains slightly softer compared to prior years, as tenants remain price-sensitive and new apartment supply continues to provide renters with more options across the valley.

By bedroom and property type

Public rental data continue to highlight differences between smaller apartment units and larger homes in the Las Vegas market. Apartment-focused data from Apartments.com shows that as of early 2026:

• Studios average roughly $995 per month
• One-bedroom apartments average about $1,280
• Two-bedroom units average around $1,536
• Three-bedroom apartments average approximately $1,840

These figures illustrate a clear spread between entry-level rental units and larger family-sized homes. Single-family houses and larger multi-bedroom properties in suburban areas often command significantly higher rents, especially in newer communities or neighborhoods with strong school districts.

Month-over-month and year-over-year trends

From a month-to-month perspective, the roughly $40 increase reported by Zillow suggests modest upward movement as the market moves toward the spring leasing season, which historically brings more activity from both renters and property owners.

On a yearly basis, however, rents remain below their levels from early 2025. Data from multiple rental platforms shows that the Las Vegas market has been gradually correcting from the rapid rent growth seen during the pandemic-era migration boom earlier in the decade.

What this means for Las Vegas homeowners

For homeowners considering renting out a property in 2026, the March data point to a market that is stable but competitive. Demand remains healthy, but renters are more cautious about price increases and often compare multiple listings before committing.

Well-maintained homes with updated interiors, strong curb appeal, and competitive pricing can still attract significant interest, particularly for properties offering extra space or desirable amenities such as garages, yards, or proximity to employment centers. However, properties priced too aggressively may sit on the market longer as tenants take advantage of increased inventory and negotiate more favorable terms.

For property owners unsure where their home fits relative to current averages, a free custom rental analysis based on neighborhood, property size, condition, and nearby comparable listings can provide a more accurate estimate than broad metro-wide averages alone.

Data sources: Zillow Las Vegas rental market trends (average rent for all bedrooms and property types, updated February 2026), Zumper Las Vegas rent research (median rent and bedroom-level averages, updated March 2026), and apartment rental trends from Apartments.com as of early 2026.

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.

LAS VEGAS, NV – Las Vegas’ real estate market continued its ongoing slump last month, according to a new report released by trade association Las Vegas Realtors, which shows that both residential home sales and prices decreased in February.

The median price of an existing single-family home in the Las Vegas Valley last month was $481,995, which represents a 0.6 percent decrease year-over-year.

Meanwhile, 1,614 previously-owned homes were bought in the valley in February, which is a 9.4 percent drop when compared to the same period of time in 2025.

But in contrast, there was an increase in the number of homes being listed for sale, as well as how many were sitting on the market without any offers. February saw an additional 2,925 single-family homes hit the market, which is a 4.5 percent increase year-over-year.

All told, there were 6,131 houses up for sale at the end of last month, which represents a whopping 17.2 percent jump when compared to February 2025, according to LVR’s report, which cites data from their own listing service.

LVR President George Kypreos noted that the current state of the real estate scene in Las Vegas are strong indicators of a transition over to a “buyer’s market,” adding that Southern Nevada remains an “attractive” place to buy a home.

However, the market in Vegas has continued to struggle amid high asking prices as well as expensive home mortgages pricing many people out of homeownership in the region, despite the fact that it remains one of the more affordable cities in the country overall. But regardless, sales have dropped while prices have remained at near-record levels despite a large amount of inventory currently being on the market.

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.

LAS VEGAS, NV – Fairways on Green Valley, a 320-unit garden-style community in Henderson, Neveda, has been acquired by San Francisco-based multifamily real estate investment firm Hamilton Zanze, which made the purchase for an undisclosed sum.

Fairways on Green Valley is located at 1851 North Green Valley Parkway in the Green Valley South neighborhood, adjacent to The Legacy Golf Club, and the community will be managed going forward by Mission Rock Residential, an affiliate of Hamilton Zanze.

According to Hamilton Zanze President and Chief Investment Officer, David Nelson, now is the right time for the firm to continue investing in the Southern Nevada market, for a variety of reasons.

We’ve long admired the Henderson submarket, and we’re very excited to re-enter the market at a time when we see so much upside,” he said. “Given the minimal supply, diverse employment base and resilient renter demographic, rental fundamentals in Green Valley South are and will continue to be extremely compelling. Fairways on Green Valley represents a fantastic opportunity to re-enter the market through a well-maintained, institutionally-operated asset in a fantastic location poised for consistent and substantial value appreciation.”

The community, originally built in 1990, offers homes with one and two-bedroom layouts, ranging in size from 725 to 1,035 square feet. Residences feature stainless steel appliances, granite countertops, gas stoves, fireplaces, in-home washers and dryers, large closets, ceiling fans, Roman bathtubs, air conditioning and private patios or balconies.

It also offers a plethora of amenities for its residents, including a resort-style swimming pool, spa/hot tub, barbecue/picnic area, resident clubhouse, business center, game room, golf simulator, indoor sports court, soccer field and onsite fitness center.

The community also features limited-access gated entry and covered parking.

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.

LAS VEGAS, NV – A new study has revealed that, for the first time in five years, there are more homeowners with a mortgage interest rate higher than six percent than there are ones with a rate below three percent.

Data released by Redfin indicates that 21.1 percent of homeowners in the United States – equating to over one in five – had a mortgage rate of six percent or higher during the third quarter of 2025, the most recent time period for which data is available; this represents a year-over-year increase of 17.1 percent, as well as the highest share since 2015.

In contrast, a lower amount of homeowners – 20 percent – had a mortgage rate of three percent or lower in the third quarter of 2025, which is the smallest share since the fourth quarter of 2021.

The remaining 78.8 percent of homeowners in the country had a rate under six percent, the lowest share since 2015.

This news shows that the home mortgage industry has undergone a diametric shift from what it once was during the COVID-19 pandemic and the months that followed in its wake, when more homeowners had lower rates than higher ones.

The last time the majority of homeowners had higher mortgage rates as opposed to lower ones was the third quarter of 2020, right in the midst of the pandemic when rates were bottoming out, causing a homebuying frenzy across the country.

According to Redfin’s head of economics research, Chen Zhao, with mortgage rates finally dipping slightly below six percent recently, now might be a good time for homeowners with six-plus percent mortgage rates to think about refinancing.

For homeowners with a rate north of 6 percent, this is a moment to run the numbers,” he said. “With average rates hovering at or just below 6 percent, some borrowers may be able to lower their monthly payment or their long-term interest costs by refinancing. It’s not the once-in-a-generation opportunity we saw in 2020, but it could provide meaningful savings.”

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.

LAS VEGAS, NV – The average amount of time homes for sale in the Las Vegas Valley are sitting on the market is gradually increasing, according to a new report by Redfin.

Homes in the valley – as of data taken from sales in January – are sitting on the market for an average of 78 days, which represents an increase of 18 days year-over-year, Redfin notes.

Meanwhile, the median sales price of a Vegas home has decreased 1.1 percent in January when compared to the same period of time one year prior, but pending sales are down 6.7 percent; meanwhile, the number of homes that are being sold is down 8.4 percent, and new homes that are being listed on the market have decreased 10.1 percent.

The data was compiled from listings in the valley that had been up for 18 days or longer when compared to the previous period of time one year prior. Active listings were up 8.6 percent year-over-year, according to Redfin.

This data ranks Las Vegas at the third highest major metropolitan area in the United States, only behind San Antonio, Texas at 21 days and Houston, Texas at 19 days.

Redfin Senior Economist Asad Khan noted that the market has been favoring buyers to a higher degree than the organization has seen in many years.

Home prices grew so fast for so long that a lot of buyers got shut out of the market, which is now causing price growth to cool,” he said. “With far more homes for sale than people who want to buy them, the buyers who are in the market have the power to negotiate on price, which is keeping price growth in check.”

While home-price growth has slowed and mortgage rates have dipped, housing affordability hasn’t improved enough to bring a critical mass of homebuyers off the sidelines,” Khan concluded. “The median home sale price was at the highest January level on record last month, and mortgage rates were still more than double the record low hit during the pandemic. Redfin agents say many house hunters are waiting for rates to fall further before jumping in.”

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.

LAS VEGAS, NV – According to a new report by Redfin, in January there was an estimated 44 percent more home sellers than buyers – which, in numerical terms, would equate to 600,314 – representiong a 30 percent increase year-over-year and the second-largest gap since the brokerage first began tracking such data in 2013.

However, the gap in Las Vegas, Nevada was far greater than the national average, with Redfin noting that there were 92 percent more sellers than buyers in January.

The largest gap between sellers and buyers in the national real estate marketplace was 45 percent, which Redfin notes took place in December 2025.

Redfin analyzed the 50 most populous U.S. metropolitan areas, and defines a buyer’s market as one where there are more than 10 percent more sellers than buyers. In contrast, a seller’s market is one that has over 10 percent less sellers than buyers, and a market is considered “balanced” if there is a plus or minus gap of no more than 10 percent.

By those definitions, Redfin notes that the country has been an overall buyer’s market since May 2024.

The strongest seller’s market in January was Newark, New Jersey, which had an estimated 31 percent fewer sellers than buyers, followed by Nassau County, New York (-29 percent), Milwaukee, Wisconsin (-26 percent), Montgomery County, Pennsylvania (-26 percent) and New Brunswick, New Jersey (-17 percent).

In a situation where sellers greatly outnumber buyers, the latter have distinct advantages because the large number of options they possess gives them more negotiating power. However, one still needs to have the financial means to afford to purchase a home in a buyer’s market, and record-high home prices, coupled with expensive borrowing costs and the uncertainty currently plaguing the economy are still proving to be formidable barriers for many when it comes to homeownership.

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.

LAS VEGAS, NV – A local Las Vegas developer has announced that a new multi-unit rental property that is located in a traditionally underserved section of the city – the Historic Westside – that would greatly benefit from such a development amid great demand is now set to open this May.

Developer Sam Cherry of Cherry Development’s five-story, rental property – dubbed Share Westside – is made up of 104 one-bedroom, 580 square-foot units, and includes amenities such as coworking space, a fitness center and a movie screening room. The complex also comes with an additional 10,000 square-feet of retail and office space.

Share Westside is built upon a city-owned one-acre plot of land at the northeast corner of Jefferson Avenue and D Street that Cherry had previously purchased for a mere $6. The tiny fee was due to the fact that the apartment complex is aimed at providing housing for local workforce members, and 84 of the units are subject to an agreement with the Las Vegas City Council that limits rental rates.

The City Council approved the project in mid-2023, with Cherry then closing on the purchase in fall 2024, according to records; the cost of Share Westside is approximately $22 million.

Cedric Crear, one of the members of the City Council that voted to approve the project, stated that he was unable to remember the last time that anyone had built any sort of housing in Historic Westside, and it is hoped that Cherry’s work will spur additional development in the region.

Cherry has previously opened a 63-unit rental complex in Las Vegas’ Arts District, in addition to another rental project on Fremont Street. These projects are addressing a housing shortage in Las Vegas’ downtown area, something that local officials have said is sorely needed.

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.

LAS VEGAS, NV – In today’s tough economic climate, any way to save a buck or two can make a difference for hard-working families. The overall cost of living is a very real concern when it comes to where you live, and because of that there’s yet another reason why Nevada remains appealing to many- according to a new WalletHub report, the state has some of the lowest property taxes in the entire country.

WalletHub Analyst Chip Lupo noted that, according to the U.S. Census Bureau, the average household in the country pays approximately $3,119 per year in property taxes.

Some states charge no property taxes at all, while others charge an arm and a leg,” he said.

WalletHub’s report examined all 50 U.S. states and the District of Columbia to see which of them placed the heaviest and lightest property tax burdens on their residents.

Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city,” Lupo said.

According to WalletHub’s report, Hawaii, Alabama, Nevada, Arizona, and Colorado are the states with the lowest property taxes. WalletHub based their report on data originally collected in 2024, at which time the median home value in the nation was $332,700.

With that being said, the average property taxes on a home in Nevada that is worth $332,700 is a mere $1,549 annually, as per WalletHub. Currently, the median home value in the state is $435,400.

In contrast, the states with the highest annual property taxes in WalletHub’s report are New Jersey ($7,022), Illinois ($6,694), Connecticut ($6,024), New Hampshire ($5,511), and Vermont ($5,295).

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.