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2021 Q4 Las Vegas Multifamily Market Research Report

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Investors Love Multifamily

  • Multifamily vacancy ended the year at 2.6%
  • Over 3,500 units were completed in 2021
  • Asking rates increased to $1,440 per unit

According to statistics provided by AXIOMetrics, multifamily vacancy in Southern Nevada increased to 2.6% in the fourth quarter of 2021. Vacancy was just 0.1 point higher than one quarter ago and 0.9 points lower than one year ago. Average rent per square foot increased by $0.08 psf over last quarter, and by $0.31 psf over last year. Multifamily inventory increased by 3,577 units in 2021. Asking rental rates increased to $1,440 per unit this quarter, a 24.9% YOY increase.


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2021 Q4 Las Vegas Multifamily Market Research Report

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John Stater

Research Manager

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John has managed the research and GIS (Geographic Information Services) departments at Colliers’ Las Vegas office for more than two decades. During that time he has been collecting, analyzing and reporting on the commercial real estate market of Las Vegas, NV, building the research department at Colliers International's Las Vegas from the ground up, establishing a database of properties, availabilities and lease and sales comps with over 20,000 records covering the industrial, office, retail, land, multifamily, hospitality, medical office markets, as well as Southern Nevada's economy in general. He also writes for the Vegas CRE Insider blog. As his office's GIS manager, he produces local, regional and national maps.

In his spare time, John writes, designs and publishes games and does freelance work in the game industry and economic research.


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Aaron and his  team provide best in class service and results to their clients, including owners, occupiers, investors and developers.  The team accomplishes this through dedication to the constant pursuit of improvement, and by creating unsurpassed intellectual capital within the market.

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