Investors Love Multifamily
- Multifamily vacancy increased to 2.9%
- Deliveries decreased to 237 units in the first quarter
- Average rent increased to $1,446 per unit
According to statistics provided by AXIOMetrics, multifamily vacancy in Southern Nevada increased to 2.9% in the first quarter of 2022. Vacancy was just 0.3 points higher than one quarter ago and 1.4 points lower than one year ago . Average rent per square foot increased by $0.03 psf over last quarter, and by $0.32 psf over last year. Multifamily inventory increased by 237 units this quarter, down from one year ago. Asking rental rates increased to $1,466 per unit this quarter, a 25.1% YOY increase.
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