LAS VEGAS (KTNV) — Rental prices continue to rise throughout the Las Vegas valley, and a few select neighborhoods are seeing dramatic increases.
Rent.com released a recent study that ran numbers on an average one-bedroom unit from local neighborhoods to determine which areas have seen the highest percentage increase over the past year.
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The study revealed that the Southern Highlands area had shown the most significant jump in rent year-over-year with a 23.51% increase from August 2018 to August 2019.
This neighborhood's average rent for a one-bedroom is at an average of $1,408. The study says the area is full of parks and restaurants with a claim that Southern Highlands is more than just a community; it's a "lifestyle."
Silverado Ranch came in second on the list with a rent increase of 14.69% and an average rent of $1,283.
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The Rhodes Ranch area saw an increase of 14.62% with an average rent of $1,443 followed by Centennial Hills, and Coronado Ranch rounding out the top five with average rents above $1,100.
More information about the study is also available here.
