Las Vegas Real Estate Investment Market Report, October 2026

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 report uses the most recently available MLS data, which reflects market activity through September 2026.

Key Takeaways

• Rents: Decreased slightly MoM. YoY is up 3%.
• Leasing speed: Days to rent increased MoM to 28 days (still healthy). YoY is down 7%.
• Rental supply: Rental months of supply unchanged MoM at 1.4 months (still tight), even as the peak summer moving season is over. YoY is down 22%!
• Prices: Virtually flat MoM and YoY, even amid a sharp increase in mortgage rates.
• Sales supply: Months of supply unchanged MoM, at 2.6 months (still healthy). YoY is down 13%.
• Investor takeaway: Our target property segment remains (amazingly) resilient despite sharp mortgage rate rises, supported by strong rental demand.

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 decreased MoM. Not surprising for the time of year. YoY is up 6%. Keep in mind that this data includes homes across all rent ranges, from properties renting for $1,000 per month to those renting for $3,500 per month.

Rent $/SF by Month

Median rent per square foot showed a similar (seasonal) slip MoM. Year over year $/SF is up 3%. Rents are holding their spring gains.

Time to Rent

Median days to rent rose MoM, again reflecting the end of the busy summer rental season, but remained healthy at 28 days, down 7% year over year. This indicates continued strength in rental demand even as summer ends.

Rental Supply

Inventory was unchanged MoM, remaining at just 1.4 months despite the time of year. YoY is down 22%! This indicates a strong landlord’s market and will continuously put upward pressure on rents.

Sales Market

Median Sale Price

The median sale price has remained tightly range-bound around $450,000 over the past 13 months, indicating a stable sales market despite higher mortgage rates and geopolitical and economic uncertainty. YoY is up 0.4%.

Price per Square Foot

Similarly, median price per square foot has stayed inside a $242 to $252 band for 13 months, a 4% range. YoY is down 1%. Keep in mind that mortgage rates were 0.6% higher in September than in August, yet sale prices still held stable. This shows persistently strong buyer demand for this segment.

Mortgage rates rose sharply in September, limiting buyer purchasing power and putting downward pressure on price growth.

Source

Months of Supply

Inventory unchanged MoM, at 2.6 months. YoY is down 13%. This is surprising for the time of year, especially so following rapid mortgage rate increases.

A balanced market is about 6 months of supply, where prices can be expected to remain stable. 2.6 months of supply is still in the seller’s market and puts upward pressure on prices. It also signals strong buyer demand.

Days on Market

Days to sell were slightly down MoM at 29 days, which is surprising for the time of year and amid higher interest rates. This indicates a persistent high-demand environment where well-priced homes are selling within days. YoY is flat.

What This Means for Investors

Despite a sharp increase in mortgage rates, sale prices and days to sell are holding steady. Inventory is also holding (at a healthy 2.6 months). That points to persistent buyer demand and resilient home values. It also suggests home values are likely to spring up once financing conditions ease (rate decreases).

The rental market appears to be entering a seasonal slowdown, but has held its spring gains. Rents decreased marginally month over month but are up 3% year over year. Time to rent increased month over month but is down 7% year over year. Rental supply remains tight at just 1.4 months, down 22% year over year. Together, these indicators continue to signal strong tenant demand and a much tighter rental market than last year.

We are approaching the holiday season, traditionally the slowest time for the sales and the rental market. This is also our favorite time to look for great value. Historically, the holiday season has provided us with the most 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