Market Analysis
Las Vegas Rental Market
Rental investment market data and analysis · Updated November 2026
Median Home Price
$375,000
Average Monthly Rent
$1,565
Estimated Cap Rate
5.0%
Rent-to-Price Ratio
0.4%
Below 1% Rule
Rent ÷ price by zip code
0 of 4 clear the 1% rule · November 2026
| Zip | Median price | Median rent | Rent ÷ price |
|---|---|---|---|
| 89106 | $344,000 | $1,635 | 0.48% |
| 89117 | $509,990 | $1,995 | 0.39% |
| 89146 | $399,999 | $1,450 | 0.36% |
| 89101 | $350,000 | $1,180 | 0.34% |
Context · FRED home price index
Market Trends
Las Vegas metro area — % change since 2018
Home Prices
+85.9%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Multi-Family | $1,050/mo |
| Apartment | $1,214/mo |
| Condo | $1,468/mo |
| Townhouse | $1,930/mo |
| Single Family | $2,110/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$375,000
Down Payment (20%)$75,000
Monthly P&I$1,956
Monthly Rent$1,565
Est. NOI$11,268/yr
Est. Cash Flow-$1,017/mo
Cash on Cash-14.8%
The Las Vegas market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Las Vegas
- 1Moderate cap rates suggest balanced cash flow and appreciation
- 21% Rule fails at median prices — need rent of $3,750/mo to pass
- 3Below-average rents keep entry costs low for new investors
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