This report tracks the Las Vegas market for the type of rental properties we help clients buy. It is not a summary of the entire housing market. This August 2026 report uses the most recently available MLS data, which reflects market activity through July 2026.
Key Takeaways
- Rents: Dropped slightly MoM. YoY is up 3%.
- Leasing speed: Days to rent virtually flat MoM, at only 20 days.
- Rental supply: Rental months of supply remained flat MoM at only 1 month. YoY is down 41%!
- Prices: Up marginally MoM. YoY is down 2%.
- Sales supply: Months of supply virtually flat MoM, at about 2 months. YoY is down 25%!
- Investor takeaway: A (continues to be) stable sales market amid elevated mortgage rates, while the rental market appears to be consolidating.
Market Scope and Methodology
This report reflects the Las Vegas market for the type of properties we typically recommend to clients, not all homes in the valley. The data applies only to properties that conform to our investment property profile and is based on data from the Greater Las Vegas Association of REALTORS (GLVAR) MLS. For all charts, please see this page.
Note: The property data in this report only includes the following:
- Type: Single-family
- Configuration: 3+ bedrooms, 2+ baths, 2+ car garages, 1,100 to 2,400 SF, one or two stories, lot size >3,000 SF.
- Rent range: $1,900/Mo to $2,400/Mo
- Price range: $320,000 to $475,000
- Location: All zip codes marked in green below that have one or more of our clients’ investment properties.
Unless noted otherwise, the charts compare the most recent month against the prior 12 months.
Rental Market
Median Rent by Month
Median rent remains virtually flat month over month and is up about 2% year over year. Keep in mind that this data includes homes across all rent ranges, from properties renting for under $1,000 per month to those renting for $3,500 per month or more.
Rent $/SF by Month
Rent per square foot cooled slightly month over month. Year over year $/SF is up about 3%.
Time to Rent
Despite rising rents, median days to rent remained at 20 days, down 13% year over year. This indicates continued strength in rental demand.
Rental Supply
Inventory remained at just one month, or a 30-day supply, and stayed at the lowest level in the past 13 months. Year over year is down 41%! This indicates a strong landlord’s market, even as rents continue to rise.
Sales Market
Median Sale Price
The median sale price decreased slightly month over month but has remained within a tight range over the past 13 months, indicating a stable sales market despite geopolitical and economic uncertainty.
Price per Square Foot
Median price per square foot increased slightly month over month but remains down about 2% year over year. Persistently high mortgage rates are likely suppressing price growth this season.
Mortgage rates continue to hover around 6.7%, limiting buyer purchasing power and putting downward pressure on price growth.
Months of Supply
Inventory remained virtually flat MoM, at about 2 months. Note that this is down ~25% YoY! The number of homes for sale is down YoY (fewer sellers), while the number of transactions is up (more buyers), thereby reducing inventory.
A balanced market is about 6 months of supply, where prices can be expected to remain stable. A 2 months of supply is firmly in the seller’s market, and puts upward pressure on prices. It also signals strong buyer demand.
Days on Market
Days to sell increased MoM to about 26 days (still very healthy), but may indicate the end of the peak selling season, as schools are already back in session in Las Vegas. However, days on market are ~15% shorter YoY (while prices are down ~2% YoY). This indicates a persistent high-demand environment where well-priced homes are selling within days.
What This Means for Investors
This month’s data shows that both the sales and rental markets are holding steady on their respective paths.
The rental market appears to be consolidating following a strong growth season. Rents decreased slightly month over month but remained up 3% year over year. Time to rent increased marginally month over month but is still down 13% year over year. Rental supply remains extremely tight at just one month, down 41% year over year. Together, these indicators continue to signal strong tenant demand and limited rental competition.
The sales market continued to hold amid elevated mortgage rates and geopolitical and economic uncertainty. Prices are holding, and homes in our property profile are still selling quickly. Inventory is also holding (at a low level of 2 months). That points to persistent buyer demand and suggests home values are likely to continue to hold.
Now that schools have started, the pool of traditional home buyers has (typically) shrunk. This is the time of year when we start looking harder for great value. Historically, fall and winter have provided more opportunities to buy good properties at great prices.
Investors who buy now may be well positioned for the next appreciation and rent-growth cycle (though rent growth already seems to be happening). In the meantime, the current rental market remains strong, which means newly acquired properties are likely to rent quickly and at healthy rents.
Buy into softness and rent into strength.
Related Resources
- Annual Investor Outlook: 2026 Investor Outlook
- Investor Guides: The Fernwood Investment Framework
- Example Candidate Properties
- Schedule a Conversation: Let’s Talk Strategy