111 Luxury Apartments for rent in North Las Vegas, NV
July 2020 North Las Vegas Rent Report
Welcome to the July 2020 North Las Vegas Rent Report. North Las Vegas rents increased over the past month. In this report, we'll evaluate trends in the North Las Vegas rental market, including comparisons to similar cities nationwide.
July 2020 North Las Vegas Rent Report
Welcome to the July 2020 North Las Vegas Rent Report. North Las Vegas rents increased over the past month. In this report, we'll evaluate trends in the North Las Vegas rental market, including comparisons to similar cities nationwide.
North Las Vegas rents increased moderately over the past month
North Las Vegas rents have increased 0.3% over the past month, and have increased marginally by 0.9% in comparison to the same time last year. Currently, median rents in North Las Vegas stand at $965 for a one-bedroom apartment and $1,197 for a two-bedroom. This is the seventh straight month that the city has seen rent increases after a decline in November of last year. North Las Vegas' year-over-year rent growth leads the state average of 0.3%, as well as the national average of 0.2%.
North Las Vegas rents more affordable than many large cities nationwide
As rents have increased marginally in North Las Vegas, other large cities nationwide have seen rents grow more quickly. North Las Vegas is still more affordable than most large cities across the country.
- North Las Vegas' median two-bedroom rent of $1,197 is slightly above the national average of $1,192. Nationwide, rents have held steady over the past year.
- While North Las Vegas' rents rose marginally over the past year, many cities nationwide saw decreases, including Denver (-1.2%), Los Angeles (-0.5%), and Portland (-0.4%).
- Renters will find more reasonable prices in North Las Vegas than most large cities. For example, Los Angeles has a median 2BR rent of $1,747, which is nearly one-and-a-half times the price in North Las Vegas.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.