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Nevada

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Market Overview

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EXPLORE 4 Nevada MARKETSToggle markets

Boise
Fresno
Las Vegas
Reno

Boise

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 7.9%

Drifted upward by 10 basis points.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $6.40

Up 0.5% from year-end 2018.
Expected to finish 2019 at.

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Fresno

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 11.5%

Drifted downward by 10 basis points.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $5.23

Up 0.8% from year-end 2018.
Has risen for six consecutive quarters.
Expected to finish 2019 at.

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Las Vegas

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VACANCY

Apartment

The average Vacancy Rate was 3.5% in the Las Vegas metro

The Las Vegas metro had the tenth lowest vacancy in the nation and the fourth lowest in the West.
Vacancy in the Las Vegas metro drifted upward by 10 basis points.
The Las Vegas metro had the highest vacancy level since Q1 2021.

Distribution / Warehousing

The average Vacancy Rate was 13.1% in the Las Vegas metro

Vacancy in the Las Vegas metro has risen for eight consecutive quarters.
The Las Vegas metro was among the 10 highest vacancies nationally.
Vacancy is expected to finish 2024 at 12.9% in the Las Vegas metro.

Office

The average Vacancy Rate was 25.1% in the Las Vegas metro

Vacancy in the Las Vegas metro drifted downward by 30 basis points.
The Las Vegas metro was among the 10 highest vacancies nationally.
Vacancy is expected to finish 2024 at 25.3% in the Las Vegas metro.

Retail

The average Vacancy Rate was 12.6% in the Las Vegas metro

Vacancy in the Las Vegas metro drifted downward by 30 basis points.
The Las Vegas metro had the lowest vacancy level since Q3 2015.
Vacancy is expected to finish 2024 at 12.8% in the Las Vegas metro.

RENT

Apartment

The average Asking Rent was $1,491 in the Las Vegas metro

Rent in the Las Vegas metro was up 0.6% from Q2 2024.
Las Vegas metro had its fastest rent rate of increase in five quarters.
Rent is expected to finish 2024 at $1,495 in the Las Vegas metro.

Distribution / Warehousing

The average Asking Rent was $9.51 in the Las Vegas metro

The Las Vegas metro had the sixth fastest rent growth in the nation, and the second in the West region, behind only San Francisco.
Rent has risen in every quarter since year-end 2020 in the Las Vegas metro.
Rent is expected to finish 2024 at $9.60 in the Las Vegas metro.

Office

The average Asking Rent was $27.21 in the Las Vegas metro

Rent in the Las Vegas metro was up 0.3% from Q2 2024.
Rent is expected to finish 2024 at $27.31 in the Las Vegas metro.

Retail

The average Asking Rent was $23.58 in the Las Vegas metro

Rent in the Las Vegas metro was up 0.1% from Q2 2024.
Rent is expected to finish 2024 at $23.66 in the Las Vegas metro.

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Reno

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 10.1%

Fell by 80 basis points.
Expected to finish 2018 at.

RENT

Distribution / Warehousing

Average Asking Rent $4.47

Up 1.4% from Q2 2018.
Fastest rate of increase in five quarters.
Expected to finish 2018 at.

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Learn more about the Nevada markets from one of our professionals.