Enterprise Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Enterprise, NV. Currently, the overall median rent in the city stands at $1,727, after rising 0.7% last month. Prices remain down 0.0% year-over-year. Read on to learn more about what’s been happening in the Enterprise rental market and how it compares to trends throughout the broader Las Vegas metro area and the nation as a whole.

Enterprise rents are up 0.7% month-over-month and flat year-over-year

The median rent in Enterprise rose by 0.7% over the course of April, and has now decreased by a total of 0.0% over the past 12 months. Enterprise’s rent growth over the past year has is similar to both the state (-0.8%) and national averages (-0.8%).

Enterprise rent growth in 2024 pacing similar last year

Four months into the year, rents in Enterprise have risen 1.1%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.2%.

April rent growth in Enterprise ranked #36 among large U.S. cities

Enterprise rents went up 0.7% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #36. Similar monthly rent growth took place in Chandler, AZ (0.7%) and St. Paul, MN (0.7%).

Enterprise is the #27 most expensive large city in the U.S., with a median rent of $1,727

Citywide, the median rent currently stands at $1,374 for a 1-bedroom apartment and $1,632 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,727. That ranks #27 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Enterprise is 23.7% higher than the national, and is similar to the prices you would find in Plano, TX ($1,731) and Aurora, CO ($1,726).

Enterprise rents are 16.2% higher than the metro-wide median

If we expand our view to the wider Las Vegas metro area, the median rent is $1,487 meaning that the median price in Enterprise ($1,727) is 16.2% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -0.8%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 6 cities in the Las Vegas metro area that are included in our database. Among them, Enterprise is currently the most expensive, with a median rent of $1,727. Paradise is the metro’s most affordable city, with a median rent of $1,320. The metro's fastest annual rent growth is occurring in Paradise (3.9%) while the slowest is in Las Vegas (-1.7%).

You can also use the map below to explore the latest rent trends in the Las Vegas metropolitan area.