Las Vegas continues to be recognized as a great multifamily market. The site, Commercial Observer, has this article about our community.
Some takeaways from the article are:
- Almost every sector of the city’s economy is outperforming the previous decade. Last year, Las Vegas had the highest year-over-year multifamily rent growth in the nation at 7.8 percent. Retail rents are increasing, and office vacancy is at its lowest point since 2007.
- CBRE’s multifamily report showed that Las Vegas has the second highest year-over-year rent growth rate in the country at 7.4 percent.
- Las Vegas’ annual employment growth in the third quarter this year was more than twice the rate of the U.S.