Category Archive : Market Updates

LAS VEGAS, NV – According to one of the top luxury real estate agents in the Las Vegas Valley, the number of homes owned by millionaire residents in Southern Nevada in 2025 has increased by a factor of three since 2019, illustrating the growing appeal of the region to affluent members of society.

IS Luxury real estate brokerage founder Ivan Sher noted that Las Vegas has become a very attractive place to live for the wealthy, with prices associated with high-end home sales in the valley increasing over the years as more rich individuals purchase properties here.

The luxury real estate market in the valley has evolved dramatically over the past decade. Ten years ago, the top of the market was $10 to $15 million,” he said. “Today, sales regularly exceed $30 million. What used to be considered luxury at $1 million is now closer to $3 to $3.5 million. This shift reflects more than just pricing; it shows that Las Vegas itself is maturing.”

The city has become a magnet for high-net-worth individuals seeking more space, a better quality of life, and the energy of a market that is constantly innovating,” Sher continued. “Since 2019, the number of millionaire households has tripled, and that momentum is evident in the type of buyers moving here, from tech entrepreneurs and finance executives to professional athletes and CEOs.”

Sher pointed out that the pandemic changed the luxury home dynamic in Vegas, saying that the number of affluent, out-of-state transplants – many hailing from the neighboring state of California – jumped dramatically after 2020.

Before COVID, roughly half of my buyers were local, about 30 percent came from California, and the rest from other areas,” he said. “After 2020, there was a noticeable shift. California buyers made up around 75 percent of my clientele. The pandemic was a tipping point, showing people that they no longer needed to live where they worked, thanks to Zoom and remote work, which created a strong migration to Las Vegas.”

Aside from the exciting entertainment options afforded by Vegas, the plethora of professional sports teams relocating to the city, and Nevada’s lack of state income tax, the overall quality of life offered by Southern Nevada is proving to be an exceptional draw to the wealthy.

Many are seeking a place with less polarization, a more manageable pace of life, good food, great weather, and convenient access through the airport,” he said. “People come for these reasons and often stay because Las Vegas delivers a quality of life they cannot find elsewhere.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – While they have dropped slightly in recent months, interest rates on mortgages still remain at historically high levels; however, as the Federal Government’s current shutdown drags on – fueled by the impasse between Republicans and Democrats on a new spending bill – experts have speculated its potential impact on home borrowing costs.

To save you the time, in summary, most economists and mortgage strategists cited in the Investopedia article expect little change in rates during the shutdown itself. Once the shutdown ends and data flow resumes, they anticipate a slight easing of rates (i.e. a downward move).

But speculation is just that – essentially a glorified theory – as the shutdown makes it more difficult to gauge the current status of the economy and, therefore, ascertain the direction mortgage rates may end up going in.

Yields on 10-year Treasury notes are what most heavily influences mortgage rates, and lenders base the pricing of their mortgage-backed securities (MBS) on the returns offered by competing government bonds, often bundling mortgages together to sell to investors. During a government shutdown, 10-year treasury notes are normally very coveted, resulting in more affordable lending rates due to notes’ rising prices and falling yields.

In addition, the hundreds of thousands of federal employees who are typically furloughed and not getting paid during a shutdown, and the delayed issuing of FHA, USDA, and VA loans – which are government-funded – in addition to federally-financed flood insurance could also cause rates to lower.

But shutdowns are unpredictable in terms of how they may impact mortgages, so there’s also the possibility that rates could swell once again, driven by factors such as credit and fiscal worries and economic uncertainty. Shuttered government agencies are also unable to release labor market and inflation reports, which have a large impact on investors, loan rates, and the overall economy.

One thing is for sure, according to Realtor.com senior economist Jiayi Xu- the longer the shutdown continues, the greater the economy – and lending costs – will be influenced, for better or for worse.

The longer the shutdown drags on, the greater its potential influence on markets and monetary policy decisions will be,” he said.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A new report by Las Vegas Realtors (LVR) indicates that home prices in Southern Nevada are continuing to fall – and available inventory keeps rising – following an extended streak where they held onto the all-time record high point earlier this year.

As per LVR, in September the median price of an existing single-family home in the Las Vegas Valley was $470,000, which represents a 2.1 percent decrease year-over-year. That number is also a $10,000 decrease from August’s price of $480,000, and $15,000 down from the region’s all-time record high of $485,000, which was achieved several times in 2025, most recently in July.

The median price for condominiums and townhomes sold in the valley in September followed suit, falling to $294,000, a $4,000 decrease from August’s $298,000 and 1.8 percent lower year-over-year. Southern Nevada’s all-time record for condos and townhomes was originally set in October 2024, when that price reached $315,000.

LVR President George Kypreos echoed sentiments in the report that he previously expressed in a recent media interview, noting that the changing conditions in the valley represent the local real estate market going through a “reset” of sorts.

This month’s LVR statistics are another indication that we’re going through a bit of a reset in the housing market,” he said. “We’re seeing more homes available for sale than we’ve had in some time. We’re also seeing a more balanced housing market. Along with other factors that have been shifting in favor of home buyers, we’re entering a time of year that national reports show is the best time to buy.”

LVR reports that there were 7,502 single-family homes listed for sale without any offers at the end of September, a 37.4 percent increase from the same period of time one year prior. Meanwhile, the number of condos and townhomes listed without offers jumped 50.5 percent year-over-year.

A total of 2,369 existing homes, condos and townhomes sold in the valley in September, a 5.2 percent jump from last year for homes but a 0.2 percent decrease for condos and townhomes.

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

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

www.shelterrealty.com

LAS VEGAS, NV – In a recent interview, Las Vegas Realtors (LVR) President George Kypreos commented on the current conditions of the housing market in Southern Nevada, noting that it was in the process of “going through a reset” and offering advice to both home buyers and sellers on how to best take advantage of the coming changes.

Kypreos first spoke about the existing state of the real estate market in the Las Vegas Valley, and the various circumstances influencing it.

Right now, the Las Vegas housing market is going through a bit of a reset,” he said. “After the rapid post-pandemic growth, we’re seeing more inventory on the market than usual. This shift is helping to bring more balance between buyers and sellers, creating a healthier and more stable real estate environment.”

While high interest rates on home mortgages have put many buyers on the fence as of late, Kypreos stated that Vegas still holds many advantages over the rest of the country when it comes to purchasing a house.

Demand remains strong, particularly for buyers who can qualify in today’s lending conditions. While interest rates have affected affordability, opportunities still exist for those who are financially prepared,” he said. “Our median home price sits around $480,000. That might seem high at first, but it’s still significantly more affordable than what buyers are seeing in nearby markets like California and Arizona. With continued job growth, lifestyle appeal, and Nevada’s tax advantages, Las Vegas remains a top destination for real estate investment and relocation.”

The LVR president also offered advice for both buyers and sellers on how to best navigate the shifting and evolving real estate market in the coming months.

For buyers: preparation is everything. Get pre-approved, understand your budget, and work with a real estate agent who knows how to navigate the Las Vegas housing market. There’s less competition now than in recent years, which means more room to negotiate and more chances to find the right property,” Kypreos said. “For sellers: make your home stand out. Homes that are clean, staged, and priced properly still sell quickly. Today’s buyers are informed and expect value. Don’t wait for a perfect market because the perfect time is when you’re ready and you have a clear plan in place.”

And finally, Kypreos touched upon what he would like to see improve in the residential market in Vegas in the years to come.

I’d love to see more initiatives that support affordable housing for first-time homebuyers and longtime residents,” he said. “Las Vegas is growing fast, and it’s important that we continue to create opportunities for families and individuals looking to plant long-term roots here.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – After an extended period of time where sellers held a tight grip on the residential real estate industry, a new study claims that the Las Vegas Valley has “firmly” transitioned into a market that now more strongly favors buyers.

According to a new report released by real estate brokerage services company Redfin, Las Vegas has pivoted into a market where home buyers have a stronger advantage over sellers, more so than almost any major metropolitan area in the county.

The reasoning behind this development, Redfin notes, is due to the fact that currently the number of sellers in Southern Nevada exceeds the number of buyers by a whopping 96.7 percent, which represents a huge 47.9 percent jump year-over-year as of the end of August.

In fact, the change is so drastic that the only other major metro that has seen a bigger shift from sellers to buyers is Denver, Colorado; in contrast, Newark, New Jersey now ranks as the residential real estate market that most favors sellers over buyers.

There were about 13,575 residential homes for sale in the valley at the end of August, according to Redfin, which is a significant increase over the 6,903 that were available at the same period of time in 2024. Meanwhile, the median price of an existing single-family home in Vegas is $443,770, a 1.3 percent year-over-year increase.

Redfin’s chief economist, Daryl Fairweather, said that the changing landscape in Las Vegas is due to a number of economic factors that the nation overall is currently experiencing.

Las Vegas is shifting sharply toward a buyer’s market because higher mortgage rates and rising home prices have sidelined many would-be buyers, even as more homeowners put their properties up for sale,” she said. “The surge in listings paired with falling sales has created an unusually wide gap between supply and demand, giving buyers more leverage at the negotiating table while putting pressure on sellers to price more realistically.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – A developer has plans to build hundreds of homess upon a large Las Vegas land tract that was recently purchased by an investment firm from Summerlin developer Howard Hughes Holdings for over $100 million.

Hearthstone, a Southern California firm that invests in homebuilding projects, bought the 240 acres of land from Hughes Holdings in early September for $100.4 million, according to Clark County records and Nevada business-entity filings. The land is located approximately two miles southwest of the Tropicana Avenue-Hualapai Way intersection, reports say.

The developer that is planning the build is Pulte Homes, which was originally approved to do so last year by Clark County; their project will take the form of a guard-gated community comprised of over 400 houses. Pulte currently has an option to buy the land in question from Hearthstone for the project.

The land that Pulte intends to develop is known as the “Back Bowl,” and is located in a small valley south of The Summit Club, an affluent guard-gated community within Summerlin that calls several celebrities as residents.

The sale of the property is one of the largest Hughes Holdings has made in several years; Summerlin is comprised of 22,500 acres of land in the western Las Vegas Valley and the developer regularly sells undeveloped parcels throughout the master-planned community to homebuilders.

Howard Hughes Holdings, based in Texas, takes its name from the famed aerospace engineer, business magnate, film producer, and investor; he purchased the community’s initial 25,000 acres – which he originally named “Husite” – in 1952. The community is named after Jean Amelia Summerlin, Hughes’ mother, and years later, Summerlin would go on to become the largest master-planned community in Las Vegas.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Illustrating how rising prices in the United States are impacting the average family, a new study by the University of Nevada, Las Vegas’ Lied Center for Real Estate notes that homebuyers in Las Vegas need to be earning an annual salary of at least $119,000 in order to afford a home in the region’s current median price range, which is in the neighborhood of $400,000.

We compare the cost of single-family housing with wage data across 627 occupations to assess Southern Nevada’s paycheck-to-mortgage gap,” the study’s summary states. “With a median monthly housing cost of $2,975, a household must earn $119,012 annually to afford a median-priced home.”

The current median household income in Las Vegas is $80,028, according to the Lied Center.

The study singles out members of Las Vegas’ leisure and hospitality workers are being especially hard-hit by the high cost of housing.

To meet this mortgage threshold, a single-income household must earn an hourly wage of $57.22. However, only 6.1 percent of all occupations in Las Vegas pay at or above this amount,” Lied Center researchers say. “For a dual-income household, each earner must make at least $28.61 per hour, a wage achieved by only 46.6 percent of local occupations. The situation is especially dire for minimum-wage workers: a single-income household would need to work 191 hours per week, an impossible requirement given that there are only 168 hours in a week. For a dual-minimum wage household, each person would need to work 95.5 hours per week, the equivalent of nearly 2.5 jobs”

The study goes on to say that the lack of affordable housing options in Las Vegas could eventually interfere with the city’s currently strong business and economic growth.

This widening affordability gap may threaten Southern Nevada’s long-term economic development goals,” the study says. “Despite the region’s business-friendly environment, strategic location, and favorable tax structure, companies may hesitate to relocate or expand if local housing options remain economically out of reach for much of the workforce.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – Beleaguered families living in Windsor Park – a neighborhood located in North Las Vegas whose homes have been sinking into the ground for decades – got some good news this week, as critical funding for the construction of new residences has finally been secured, allowing the development phase of the long-delayed project to finally commence.

The funding for the Windsor Park project was originally approved in 2023 but development has remained in limbo since then, with an impending deadline threatening to yank the millions of dollars earmarked for the renewal of the devastated neighborhood off the table. However, Nevada State Senator Dina Neal (D-North Las Vegas) confirmed that the state has met the deadline – which was Friday of this week – thus, securing the funding and enabling construction to proceed.

Windsor Park is historically comprised of mostly black residents; 241 homes were originally built in the 1960s, but a mere 90 remain today due to a lack of proper studies of the land the neighborhood was built upon. Aa result, existing fault lines aggravated by groundwater pulled from an underground aquifer resulted in homes gradually sinking into the ground.

The consequences were horrific to Windsor Park: walls inside homes cracked, porches collapsed, and sewage pipes shifted and burst.

Community Development Programs Center of Nevada was awarded a contract for $37 million in 2024 to build a new 93-lot subdivision to provide housing for Windsor Park’s remaining residents. However, work never commenced, and since the money for the project is made up of public funds – $25 million is made up of federal COVID relief funds, and the remaining $12 million is from the state of Nevada itself – the developer was up against strict deadlines that it appeared it wasn’t going to meet.

However, as per State Senator Neal, one of those critical deadlines has been met by Community Development Programs Center – who confirmed that they already have a permit for grading, which is set to commence this week – allowing the Windsor Park project to finally enter its construction phase…much to the relief of its long-suffering residents.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Two high-rise luxury apartment complexes in Las Vegas that are currently under construction have shown the continued and strong demand for high-end accommodations in Southern Nevada, with the two projects already having recorded a combined total of over $800 million in sales before either has even opened their doors for business.

Construction for the two projects – Four Season Private Residences Las Vegas in MacDonald Highlands in Henderson and Cello Tower in downtown Las Vegas – began at the end of 2024. Four Season, with an anticipated completion date of summer 2027, has already recorded $685 million in sales, with 121 of its 171 units – equating to 71 percent – sold so far; meanwhile, the 240-unit Cello Tower has already exceeded $150 million in sales.

When the tariffs hit (earlier this year), we had a quiet window for about 45 days, and then all of a sudden the faucets opened and people showed up,” said Four Seasons project Executive Vice President, Craig Eddins, who noted Four Seasons is averaging one sale a week. “They are coming from different markets. There are local people making a lateral move that want to simplify their lives. And the northwest is coming on strong. We have several buyers from the Seattle market, Portland and Vancouver, British Columbia.”

The two-tower, $1.3 billion Four Season project – designed by Wimberly Allison Tong & Goos – will have residences that range from 2,279 square feet to 8,349 square feet and offer numerous luxury amenities, including semi-private elevators, private garages, furnishings by Wimberly Interiors, customizable terraces with outdoor kitchens, as well as social gathering and dining areas.

In addition, residents will have access to three multi-level resort-style pools, fine on-site dining and event spaces, and owners of larger units will have the option of having their own private outdoor pool.

Prices at the Four Season range from $3.67 million for two-bedroom units, all the way up to $28.95 million penthouses.

Meanwhile, the 32-story, $400 million-plus Cello Tower – located on the grounds of the Origin at Symphony Park mixed-use enclave in downtown Las Vegas and designed by architecture firm Perkins Eastman – will be comprised of eight penthouse suites beginning at $4.5 million, along with an additional 240 one-and-two-bedroom residences that will start at $700,000 and up.

The complex will feature numerous high-end finishes and appliances for its residents in addition to a great many amenities, including an elevated outdoor environment on the 25th floor featuring beautiful landscaping, gorgeous views, and a fountain; an exhibition kitchen and private dining room; pods for barbecues; a hyper-oxygenated resort-style pool; a TV media wall; a pet spa and park; and an entire 7,000-square-foot floor dedicated to wellness, including a full gym and spa facilities.

Cello Tower is scheduled to be completed in 2027, according to Project broker Brian Krueger with Coldwell Banker Premier Realty.

Our buyers have a lot of time to wait,” he said. “They don’t have to sell their home right now. It gives them time to wait through market conditions, but it also gives them time to plan because a lot of buyers are coming from Vegas. They are selling their homes and want a walkable urban living destination environment that we’ve been pitching since day one. That allows their home to appreciate even more, and it tends to take away from the stress that comes with a real estate transaction.”

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.

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Christopher Boyle

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

www.shelterrealty.com

LAS VEGAS, NV – South African tech mogul Elon Musk’s The Boring Company is planning to construct a multi-family apartment complex in Las Vegas that will be connected to its underground loop “people mover” system, with the project having recently cleared a significant milestone by having been granted much-needed land-use permits by the Clark County Commission.

The currently-unnamed project, upon completion, would take the form of a six-story, 132-unit complex situated at 4300 Paradise Road with numerous unique amenities, such as a ground-level bodega, a drive-thru coffee shop, a game room, a full gym, a courtyard and a tenant-exclusive bar and cocktail lounge.

The land-use permits were granted by the Clark County Commission unanimously, albeit with several conditions, as the Boring Company is planning several aspects of the project that do not adhere to normal county building codes.

This includes providing only 24 parking spaces whereas normally 189 would be required, with Stephanie Gronauer of Kaempfer Crowell – the law firm representing Boring at the recent Commission meeting – successfully arguing that the reduction in the number of parking spots was justified due to the building’s residents having access to not only the Regional Transportation Commission’s (RTC) bus service in the area, but also Boring’s underground loop “people mover” system.

The Las Vegas loop is a transport system constructed underneath the city, comprised of a series of underground tunnels dug by Boring that currently ferries people back and forth to the Las Vegas Convention Center in a series of Tesla automated electric cars. Boring plans on expanding the tunnel system, with plans for new people mover routes to various area resorts, sporting venues, and the airport.

The idea is that folks in and around this downtown Strip corridor will live, work and play on this property,” Gronauer said. “Utilize the loop system, utilize the (RTC) bus rapid transit system, as well as the pedestrian accessibility.”

Commissioners granted the land-use permit with the exception for the number of parking spots on the condition that a public meeting be called for the design review of the loop station at the apartment complex, and that the apartment building’s occupancy not be issued until the county issues the loop station’s certificate of occupancy.

Currently, a start date for the project has not yet been revealed.

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

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

www.shelterrealty.com

LAS VEGAS, NV – With affordable housing options in short supply across Southern Nevada, particularly for older residents, a new development in the northern Las Vegas Valley is aiming to help fill the gap.

Dubbed Heirloom at Rome, the 276-unit complex at Rome and Decatur boulevards was developed by Ovation Development Corp. and is specifically designed for low-income seniors.

Completed this summer, the $78 million project features one- and two-bedroom apartments ranging from 664 to 891 square feet, along with 38 separate 400-square-foot “tiny homes.” The first tenants began moving in on September 1. Residents also have access to a variety of amenities, including fitness and wellness rooms, a game lounge, a business center, and a clubhouse.

A recent report from the National Low Income Housing Coalition highlighted the region’s housing crisis, noting a shortage of approximately 78,000 affordable rental units that continues to put financial pressure on local families.

Ovation Development is among the largest apartment builders in Southern Nevada, with a portfolio spanning both affordable and luxury communities. To date, the company has completed 17 affordable housing projects; its last senior-focused property, Heirloom at Pebble, opened in May and is already 89 percent leased.

For those interested in applying to this community, visit: Heirloom at Rome Contact Page

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

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

www.shelterrealty.com

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

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

www.shelterrealty.com