In addition to the infamous “Strip,” the city of Las Vegas has some beautiful neighborhoods that are gaining in popularity (and price!).
Because of the great location and sunny weather year-round, some Las Vegas neighborhoods have seen a 23 percent increase in rent prices year-over-year. Here are the five Las Vegas neighborhoods where rent is increasing the most.
5. Coronado Ranch
- Price increase over the past year: 6.23 percent
- Average rent for one-bedroom in Coronado Ranch: $1,116
A relatively new neighborhood, Coronado Ranch is located southwest of Las Vegas. It was developed in 2007 and has continued to grow ever since, quickly becoming one of the most desirable and expensive Las Vegas neighborhoods.
Coronado Ranch is a close-knit, affluent community with state-of-the-art schools and parks. Its proximity to the Strip and Red Rock Canyon give residents a blend of city life and the great outdoors.
This community has seen a 6 percent increase in rent prices in the last year alone with the average price of rent just more than $1,100 dollars.
4. Centennial Hills
- Price increase over the past year: 11.52 percent
- Average rent for one-bedroom in Centennial Hills: $1,150
Located in the northwest corner of the valley, this Las Vegas neighborhood is another that’s quickly growing and increasing in value. With an average rent of $1,150 for a one-bedroom apartment, Centennial Hills offers growth potential for residents.
The community offers apartment complexes, condos and homes so residents can grow within the same area as they expand their families and lives. The focal point of Centennial Hills is the 900,000-square-foot shopping mall and one of the largest community parks in the Las Vegas Valley.
3. Rhodes Ranch
- Price increase over the past year: 14.62 percent
- Average rent for one-bedroom in Rhodes Ranch: $1,443
Located outside of the busy city, Rhodes Ranch is tucked into the red rocks of Nevada so renters in this community enjoy the best of both worlds. The famously-designed Rhodes Ranch golf course is the center-point of this community.
As its popularity grows, so does the price of rent, which is apparent with the 14.62 percent increase in the last year.
2. Silverado Ranch
- Price increase over the past year: 14.69 percent
- Average rent for one-bedroom in Silverado Ranch: $1,283
Six miles from the Strip, Silverado Ranch rental prices have increased nearly 15 percent in the last year.
This Las Vegas neighborhood offers parks, shopping districts, restaurants and movie theaters so people can enjoy quiet suburban life while still being close to the city center and the Green Valley.
1. Southern Highlands
- Price increase over the past year: 23.51 percent
- Average rent for one-bedroom in Southern Highlands: $1,408
Southern Highlands is the Las Vegas neighborhood that’s seen the biggest spike in rent prices this year. With a 23.51 percent increase, the average rent for a one-bedroom apartment averages $1,400.
Southern Highlands is a quiet, tree-lined neighborhood full of parks, trails, restaurants and golf courses. Southern Highlands touts that it’s more than a community, it’s “a lifestyle.”
To create this list, Rent.com calculated rental pricing for an average one-bedroom unit from all Las Vegas neighborhoods with sufficient available inventory on Apartment Guide and Rent.com, and ranked each to determine which neighborhoods contained the highest percentage increase from August 2018 to August 2019.
The current rent information included in this article is based on rates as of August 2019 for multifamily rental property inventory on Apartment Guide and Rent.com and is for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.