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2021 Q3 Las Vegas Multifamily Market Research Report

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Investment Sales Continue to Surge

  • Multifamily vacancy decreased to 2.5%
  • New completions totaled 879 units
  • Asking rates increased to $1,366 per unit

According to statistics provided by AXIOMetrics, multifamily vacancy in Southern Nevada decreased to 2.5% in the third quarter of 2021. Vacancy was almost 1.0 point lower than one quarter ago and 1.2 points lower than one year ago . Average rent per square foot increased by $0.13 psf over last quarter, and by $0.24 psf over last year. New completions totaled 879 units this quarter. Asking rental rates increased to $1,366 per unit this quarter, a 24.3% YOY increase.


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2021 Q3 Las Vegas Multifamily Market Research Report

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