Las Vegas apartment rents decline for fifth consecutive month

The average rent in the Las Vegas apartment market fell 0.4% month over month at the end of September, representing the fifth straight month of declines. The current trend has pared down year-to-date rent growth to 0.3% from more than 2% in May. Overall, Las Vegas apartment rents are still about 4% below the all-time high set in late-2022.