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 July 2026 report uses the most recently available MLS data, which reflects market activity through June 2026.
Key Takeaways
- Rents: Resumed growth MoM after a breather in May. YoY is up 4%.
- Leasing speed: Days to rent resumed decrease MoM, now at below 20 days.
- Rental supply: Rental months of supply continued to decrease MoM. YoY is down 36%!
- Prices: Median sale price increased marginally MoM and is up approximately 2% YoY. Price per square foot declined slightly MoM and is down approximately 2% YoY.
- Sales supply: Months of supply decreased MoM to 1.8 months. YoY is down 38%!
- Investor takeaway: A stable sales market amid elevated mortgage rates, while the rental market continues to heat up.
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.
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 at the highest level in the last 13 months, up about 4.7% YoY. Keep in mind that this data includes homes of all sizes.
Rent $/SF by Month
Rent per square foot resumed growth MoM. YoY is up 4%.
Time to Rent
Despite rising rent, median days to rent decreased MoM, now below 20 days. This shows continued growth in rental demand.
Rental Supply
Inventory continued to decrease MoM, after plummeting from December 2025, now at just below 0.9 months (less than a 30-day supply), the lowest in the last 13 months, and down 36% YoY! This indicates a , and rents continue to face upward pressure.
Sales Market
Median Sale Price
The median sale price increased marginally MoM and is up ~2% YoY, indicating a stable sales market despite external pressures from geopolitical and economic uncertainty.
Price per Square Foot
Median price per square foot dropped slightly MoM and continued to defy the usual seasonal trend (which usually increases during the spring/summer sale season). YoY is down ~2%. One explanation is the persistently elevated mortgage rates.
Months of Supply
Inventory decreased slightly MoM, at about 1.8 months. Note that this is down 38% YoY! MoM (fewer sellers), while the increased MoM (more buyers), thereby reducing inventory.
However, a balanced market is about 6 months of supply, where prices can be expected to remain stable. A 1.8 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 decreased MoM, back to about 21-22 days. This indicates a high-demand environment where well-priced homes are selling within days.
What This Means for Investors
This month’s data shows that the divergence of the sales and rental markets continues.
The rental market resumed growth after a brief breather in May. Rents increased moderately MoM and are at a 13-month high; YoY is up 4%. Time to rent decreased MoM and is at a 13-month low. Rental supply continued to shrink MoM and is significantly down YoY. That combination signals 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 are still selling quickly. Inventory is shrinking. That points to persistent buyer demand and suggests home values are likely to remain supported.
Our advice for long-term investors remains unchanged from last month. This market condition presents an attractive time to buy. Higher interest rates continue to keep many buyers on the sidelines, reducing competition and creating more opportunities to buy good properties at better prices.
Investors who buy now may be well positioned for the next appreciation and rent-growth cycle (though the rent growth seems to be already 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.
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