LAS VEGAS #2 FOR U.S. MONTHLY RENT INCREASE
According to an article in Stessa ranking major U.S. cities for the highest average rent increases, Las Vegas ranked #2. Las Vegas rents increased an average of 24.8% in 2022 compared to 2019, or an average of $295 monthly.
#2 Las Vegas was only behind #1 Sacramento, CA, and ahead of #3 Salt Lake City, UT, #4 Phoenix, AZ, and #5 Jacksonville, FL. Nearly all U.S. cities raised rents as the cost of all goods and services has been rising from the effects of inflation.
This rental increase has been a double edge sword as landlords enjoy the rental income increase however, the tenants grind away under increased income demands. The problem is there are very few places to hide as nearly all cities and towns have had substantial rental increases. Moving from one city to another is not escaping from the rent increases.