Las Vegas Single Family Rental Growth
General statistical data available through the Las Vegas MLS and others do not include rental information. So, we developed our own capability to extract and display SFR rental data for the area we target and a property profile that rents well to our target tenant pool. Below are a few interesting charts.
Note that the data is NOT for the entire Las Vegas metro, it is only for single family homes < 3000SqFt and rented for < $2,000 in the area that we target.
As you can see, single family rental rates rose about 5%, even as the rental inventory built up towards the end of the year. This shows that rental demand remains strong.
Las Vegas remains an excellent investment location.
- Eric Fernwood
- [email protected]
- 702-358-8884
Most Popular Reply
I slightly disagree with @Eric Fernwood. I think rent to price ratio is a good "first pass" litmus test to compare similar properties in the same market.
If you are comparing properties in the same market, then the property taxes, state taxes, insurance, etc will likely be very similar.
For Vegas, .005 to .006 (rent to sales price ratio) is a good first pass to see if there is any possible deal to be had. Usually comes out to a 2-3% cash on cash with 20-25% down. Anything less than 1/2 of 1% is a definite pass.