If you have been looking at the Las Vegas rental market lately, you might have noticed it feels a little different. Homes are sitting just a bit longer, there are more listings to choose from, and landlords seem a little more open to negotiating. You are not imagining it.
The numbers tell the story. In Las Vegas, the supply of single-family rental homes climbed from about 2,125 in June to roughly 2,450 in July. That’s a 15 percent increase in just one month and one of the biggest jumps so far in 2025.
At the same time, leased homes dipped slightly from 1,400 to 1,360. Months of inventory, which is how long it would take to rent out all the available homes if no new ones were added, rose from 1.5 to 1.8. For renters, that means more options. For landlords, it means more competition.
Other market trackers back this up. Zillow says the average rent across all property types in Las Vegas is about $1,995 a month, down $105 from last year. Single-family homes still average around $2,172 a month, but the growth in prices has slowed. Redfin data via the Las Vegas Review-Journal shows a 4 percent annual drop in rental rates, making Las Vegas the second biggest market in the country for rent declines.
More Homes Means More Choices for Renters
Not long ago, renters were snapping up homes after one quick showing just to avoid losing them. Some were applying on the spot or offering more rent to beat out other applicants. Now, with an extra 325 homes on the market compared to last month, that sense of urgency is easing.
Imagine this: instead of rushing to sign a lease on a house that is “good enough,” you can check out several neighborhoods, compare backyard sizes, or hold out for the place with the updated kitchen you really want.
This is not just a summer bump in inventory either. While July often brings more listings because of school schedules and moving season, the size of this increase points to bigger factors. High interest rates are keeping some owners from selling, so they rent their homes instead. Investors who might have sold last year are holding on and putting those homes into the rental pool. All of that adds up to more choice for renters.
Leasing Has Slowed, But Only Slightly
The difference between 1,400 and 1,360 leased units might seem small, but it tells us something important. Renters are taking their time. With more homes available, they can afford to think twice, compare prices, or negotiate for upgrades like new paint or carpet cleaning before move-in.
For example, a renter who used to feel pressured to sign for a home near the top of their budget might now tour a few more properties and choose one that is $150 less per month, or has better appliances, or offers a shorter lease term to keep options open.
Prices Are Feeling the Pressure
When more homes hit the market and leasing slows, landlords start feeling pricing pressure. The 4 percent drop in rents over the past year is proof of that. While it is not a crash, it does mean that homes priced above market value are more likely to sit vacant.
Think of it like this: if two similar homes are for rent and yours is $200 higher, most renters will not bother scheduling a showing. They will simply apply for the less expensive one.
This is where having the right property management team makes a big difference. A data-backed pricing strategy can mean the difference between renting your home in two weeks versus two months.
What Renters Should Do Now
If you are looking for a home in Las Vegas, this is the best window you have had in months. Here is how to take advantage:
- Shop around. Tour multiple properties instead of settling for the first one you see.
- Negotiate. Ask for reduced deposits, waived pet fees, or small upgrades like new blinds or a fresh coat of paint.
- Take your time. Unless you find your perfect match right away, use the extra inventory to compare locations and features.
- Look for added value. Some landlords might throw in incentives like free internet for the first year or a professional cleaning before move-in.
Just keep in mind that this advantage might not last. If demand picks up in the fall or winter, the balance could shift back toward landlords.
What Landlords Should Do Now
If you own a rental in Las Vegas, this is the moment to fine-tune your approach. More competition means you need to be strategic to stand out.
- Price with precision. Even $50 above market rent can push potential tenants toward other listings.
- Upgrade presentation. Professional photos, good lighting, and small cosmetic fixes like replacing worn carpet or repainting walls can make a huge difference.
- Respond fast. Inquiries should get a reply within hours, not days. A slow response is an invitation for renters to move on.
- Streamline applications. Make the process easy and quick so good renters do not get scooped up elsewhere.
- Use professional property management. Our team handles market research, pricing, marketing, tenant screening, and maintenance so you get quality tenants faster and keep them longer.
For example, if two landlords list similar homes and one responds to a showing request within 30 minutes with a same-day appointment, while the other takes two days to reply, guess who is signing the lease.
Stats Snapshot – Las Vegas SFR Rental Market
| Metric | July 2025 | June 2025 | Change |
| Available Listings | 2,450 units | 2,125 units | Up 15% |
| Leased Units | 1,360 units | 1,400 units | Down slightly |
| Months of Inventory | 1.8 months | 1.5 months | Up 0.3 |
The Bottom Line
The Las Vegas SFR rental market is not collapsing, but it is cooling. Renters are getting more leverage thanks to higher inventory and slower leasing. Landlords still have the upper hand in some areas, but only if they price correctly and market well.
For property owners, this is the time to work with a management team that understands the shifts and can adapt quickly. With our expertise in pricing, marketing, and tenant placement, we can help you stay profitable and competitive, even as the market changes.
Ready to Rent Your Property Faster and Smarter?
Do not let your rental sit vacant longer than it has to. At First Full Service Realty & Property Management, we handle everything so you can maximize income without the stress.
📞 Call 702-373-9939
📧 Email pm@ffsrealty.com
🌐 Request a free quote here
You can also contact me directly and I will personally walk you through how we can protect your investment, keep your tenants happy, and give you back your time.
Ruchelle Stuart
Broker | Investor | Creative Deal Specialist |Property Manager
Office address:215 E. Warm Springs Rd #109, Las Vegas Nv 89119
Email: ruchelle@ffsrealty.com
Phone: 702-321-7493
Office: 702-373-9939
Website: www.ffsrealty.co
License: B.0053430
