The rent prices in real estate in Las Vegas, in the Nevada region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Las Vegas has had a strong fall during the last 6 months. In November, the average price per sq.feet was $10. In the following month the price per sq.feet fell considerably to $1.24. The price for the following two months in (January, February) had a considerable rise of 188 %. The price per sq.feet has had a considerable rise of 121 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $8.09 to $9.76 during March, and April.
When referring to the price in Las Vegas (cities), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $1,605. In December This price remains at $1,533. In the following two months the average price has hardly changed with regard to the previous two months from $1,569 to $1,588.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,578.75 and $1,527.5 between March and April.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,525 they are 13 % more affordable than the average price for Las Vegas . The properties with the highest average price have 4 bedrooms, Their price is 61 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,816.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.1 / sq.feet, with an average $1.83 / sq.feet price in Las Vegas. The properties with the most expensive average prices have 2 bedrooms. They are 450 % more expensive than the average followed by properties with 1 bedroom with a price at $8.49 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,525 it is 33 % more affordable than the average price in Las Vegas. "House" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Condo". At a price of $1,827 it is 21 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.27 / sq.feet followed by "House" priced at $1.85 / sq.feet. "Land" is the most expensive type of property with a $119.54 / sq.feet value followed by "Townhouse" with an average price of $83.38 / sq.feet.