{"id":9317,"date":"2025-06-10T06:14:00","date_gmt":"2025-06-10T06:14:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9317"},"modified":"2025-09-11T06:23:39","modified_gmt":"2025-09-11T06:23:39","slug":"las-vegas-multifamily-market-report-may-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/las-vegas-multifamily-market-report-may-2025\/","title":{"rendered":"Las Vegas Multifamily Market Report \u2013 May 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/las-vegas-multifamily-market-report\/\">Las Vegas Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rents, Occupancy Rise Amid High Supply Wave<\/h2>\n<p>Las Vegas\u2019 multifamily fundamentals were stable at the close of the first quarter, pointing to strong demand, according to the latest Las Vegas multifamily market report. Rent growth picked up after seven consecutive months of contractions, up 0.2% on a trailing three-month basis through March, to $1,476, while the occupancy rate in stabilized properties rose 30 basis points year-over-year, to 93.5% in February. Las Vegas remained among the nation\u2019s more affordable markets, with the average advertised asking rent below the $1,755 U.S. figure, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-aX8ae\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Las Vegas vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/aX8ae\/1\/\" height=\"329\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Employment growth remained slightly above the 1.0% U.S. rate, but softened to 1.1% on a year-over-year basis through January. Meanwhile, the unemployment rate rose to 6.1% in January, trailing both the state (5.8%) and the U.S. (4.0%) figures, according to data from the Bureau of Labor Statistics. Over the 12-month period ending in January, Las Vegas gained 7,800 net jobs. Education and health services (5,300 jobs) led growth, followed by government (2,300 jobs). Projects slated for completion in 2025 include the $600 million renovation of the Las Vegas Convention<br \/>Center, and the $165 million Civic Plaza.<\/p>\n<p><iframe id=\"datawrapper-chart-vtiwX\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Las Vegas Employment Share by Sector \" src=\"https:\/\/datawrapper.dwcdn.net\/vtiwX\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Construction activity remained elevated, with 1,142 units delivered during the first quarter of 2025, following 6,482 units in 2024, which marked a new peak. Another 8,400 units were underway as of March. Meanwhile, investment activity remained limited, totaling $160 million in the first quarter.<\/p>\n<p>Read the full Yardi Matrix Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/7364-MatrixMultifamilyLasVegasReport-May2025\" rel=\"\"><strong>May 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rents, Occupancy Rise Amid High Supply Wave Las Vegas\u2019 multifamily fundamentals were stable at the close of the first quarter, pointing to strong demand, according to the latest Las Vegas multifamily market report. Rent growth picked up after seven consecutive months of contractions, up 0.2% on a trailing three-month basis through March, to $1,476, while [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[116,513],"class_list":["post-9317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-las-vegas","tag-multifamily-outlook-2025"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Las Vegas Multifamily Market Report \u2013 May 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Construction activity remained high in Las Vegas, with 1,142 units delivered in Q1 and 8,400 units underway as of March.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/las-vegas-multifamily-market-report-may-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Multifamily Market Report \u2013 May 2025\" \/>\n<meta property=\"og:description\" content=\"Construction activity remained high in Las Vegas, with 1,142 units delivered in Q1 and 8,400 units underway as of March.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/las-vegas-multifamily-market-report-may-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-10T06:14:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-11T06:23:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/12\/Las-Vegas-iStock-2210320918-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Las Vegas Multifamily Market Report \u2013 May 2025 - 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