Today, I wanted to talk a bit about the state of the current rental market in Las Vegas and Henderson. There are three important statistics that I will share with you, which can give you an overall idea of where we are when it comes to rental properties in this area.
Average Days on Market
The average days on market valley-wide, in Clark County as a whole, is around 44 days. That’s about the same average days on market as the 2012 average, so the amount of time it takes to rent out your property has not changed much in the last year. Different properties of course spend varying amounts of time on the market, but the average you can use is that 44 day mark. At Ravago Group, we pride ourselves on maintaining a lower average of days vacant on the market. Our own average is around 29 days.
Average Rent
The average rent for a three bedroom, two bathroom house that does not have a pool is around $1,058 per month. That rental amount has increased by about $10 from the 2012 average. This average captures the entire Clark County area.
Henderson
There are a few things to consider about the Henderson area specifically. We are talking regionally about Henderson, Anthem, Seven Hills and Green Valley. These are areas that we specialize in at Ravago Group. This specific area has a lower average days on market than the valley as a whole. Inthe Henderson area, the average days on market is 31. So, you can compare this to the 44 days average in all of Clark County. Also, you can expect your home in this area to earn about 20 cents more per square foot of space. You’ll get about 91 cents per
square foot as compared to the 71 cents you will get per square foot valley-wide. This is the average for a three bedroom, two bathroom house without a pool.
Hopefully, this information has helped you better understand the rental market in Henderson and Las Vegas. If you have any questions about the rental market or property management, please contact us at Ravago Group Property Management.
