If you're looking to rent a home in the Las Vegas area, then you know the struggle is real right now.
Broker and Property Manager Lili Starks deals with a lot of rentals.
"The housing rental market is very very hot right now," said Starks.
She says it's always been hot but even more so in the past couple years in Las Vegas.
She says the most popular type of home people want to rent is a 3 bedroom with 2 baths in good condition.
Most times, the homes don't even make it to the official market before it is rented out. For example, if someone moves out, they tell their landlord they have a friend that wants to move in and the landlord never even has to list the house.
Starks gave us three examples of homes that have increased their monthly price over the last four years.
One of them near Alta and Highway 215 went up $300 per month since four years ago. Another one near Grand Canyon and Alexander went up $150 per month. A third one near Sahara and Highway 215 went up $350 per month since four years ago.
On average, Starks says there's been a 30% price increase in rental properties over the last few years. She doesn't see it slowing down any time soon because of the crazy demand.
If you're looking to rent a home in the Las Vegas area, be prepared to wait a while, act quickly, and spend a little more than expected.
