Rental prices highest in Paradise, Henderson, Spring Valley
Rents in Paradise, which includes the Las Vegas Strip and extends south to Silverado Ranch, jumped by more than 26%, according to a monthly report produced by Zumper. The report looks at median rent prices across the market, including apartments and rental homes.
Median rental prices were listed for Las Vegas, Henderson and North Las Vegas, along with the townships of Paradise, Spring Valley and Winchester:
The median rent for a one-bedroom in Paradise soared to $2,000, an increase of 26%. And while rentals were the lowest in North Las Vegas ($1,060), they were up 17.8%, the second-highest increase in the valley. The median price is the one in the middle — half are higher and half are lower.
In between the highest and lowest were Henderson ($1,530), Spring Valley ($1,350), Winchester ($1,290) and Las Vegas ($1,230). The median price across the state was $1,300, according to Zumper.
Las Vegas home prices drop from record highs; more homes for sale
Spring Valley saw the biggest drop in rental prices — down 4.9%.
The Zumper National Rent Index decreased to $1,517, showing a 0.5% monthly decline in median one-bedroom rent prices in April. Two-bedroom rentals dropped 0.2% to $1,901. Zumper noted it was the third consecutive month of flat or declining prices.
Zumper calculates its median rent prices using their own listings, third-party Multiple Listings Service (MLS) listings and prices for new construction housing. The prices exclude occupied or otherwise unavailable rentals.
Zumper's website allows prospective renters to select the area they are interested in, the size of the rental, whether it's an apartment or a house, and even whether pets are allowed. Renters can also filter by price.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to KLAS.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 days ago
- Yahoo
Canadian Home Sales Continue to Climb in July, National Benchmark Price Remains Steady
Monthly home sales OTTAWA, Ontario, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The number of home sales recorded over Canadian MLS® Systems climbed 3.8% on a month-over-month basis in July 2025. Building on gains recorded over the previous three months, transactions are now up a cumulative 11.2% since March. The July increase in home sales was again led overwhelmingly by the Greater Toronto Area (GTA), where transactions, while still historically low, have now rebounded a cumulative 35.5% since March. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership 'With sales posting a fourth consecutive increase in July, and almost 4% at that, the long-anticipated post-inflation crisis pickup in housing seems to have finally arrived,' said Shaun Cathcart, CREA's Senior Economist. 'Looking ahead a little bit, it will be interesting to see how buyers react to the burst of new supply that typically shows up in the first half of September.' July Highlights: National home sales were up 3.8% month-over-month. Actual (not seasonally adjusted) monthly activity came in 6.6% above July 2024. The number of newly listed properties was unchanged (+0.1%) on a month-over-month basis. The MLS® Home Price Index (HPI) was unchanged month-over-month and was down 3.4% on a year-over-year basis. The actual (not seasonally adjusted) national average sale price edged up 0.6% on a year-over-year basis. New supply was little changed (+0.1%) month-over-month in July. Combined with the notable increase in sales, the national sales-to-new listings ratio rose to 52%, up from 50.1% in June and 47.4% in May. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings roughly between 45% and 65% generally consistent with balanced housing market conditions. There were 202,500 properties listed for sale on all Canadian MLS® Systems at the end of July 2025, up 10.1% from a year earlier and in line with the long-term average for that time of the year. 'Activity continues to pick up through the transition from the spring to the summer market, which is the opposite of a normal year, but this has not been a normal year,' said Valérie Paquin, CREA Chair. 'Typically, we see a burst of new listings right at the beginning of September to kick off the fall market, but it seems like buyers are increasingly returning to the market. If you're looking to buy or sell a property this fall, you should get in touch with a REALTOR® in your area today.' There were 4.4 months of inventory on a national basis at the end of July 2025, dropping further below the long-term average of five months of inventory as sales continue to pick up. Based on one standard deviation above and below that long-term average, a seller's market would be below 3.6 months and a buyer's market would be above 6.4 months. The National Composite MLS® Home Price Index (HPI) was unchanged between June and July 2025. Following declines in the first quarter of the year, the national benchmark price has remained mostly stable since May. The non-seasonally adjusted National Composite MLS® HPI was down 3.4% compared to July 2024. This was a smaller decrease than the one recorded in June. Based on the extent to which prices fell off in the second half of 2024, look for year-over-year declines to continue to shrink in the months ahead. The non-seasonally adjusted national average home price was $672,784 in July 2025, edging up 0.6% from July NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. CREA cautions that average price information can be useful in establishing trends over time but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS® Systems are co-operative marketing systems used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada's largest single-industry associations, representing more than 160,000 REALTORS® through 61 real estate boards and associations. Further information can be found at For more information, please contact:Pierre Leduc, Media RelationsThe Canadian Real Estate AssociationTel.: 613-237-7111 or 613-884-1460E-mail: pleduc@ A photo accompanying this announcement is available at while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Axios
6 days ago
- Axios
AI hiring spree pushes San Francisco rents to pre-pandemic levels
San Francisco rents are soaring to pre-pandemic highs amid an AI hiring spree and decades of stalled housing growth that hasn't kept up with demand, ratcheting up competition in the process. The big picture: Unlike past tech booms centered in Silicon Valley, the AI wave is anchoring itself in San Francisco, with tech heavyweights like OpenAI, Anthropic and Scale AI doling out top dollar to recruit elite talent and offering a number of incentives. Many newcomers arrive with big salaries but face few housing options, driving double-digit rent spikes in downtown-adjacent hubs like SoMa, Mission Bay and Hayes Valley, according to a July report from real estate tech company Zumper. What they're saying:"AI has made San Francisco the epicenter of office space, where commercial demand is driving residential demand," Ken DeLeon, a Bay Area-based real estate broker, told Axios. "In this talent war for AI, a lot of the companies are paying people a bit more if they're willing to live closer to the office." By the numbers: San Francisco led the nation in rent growth, with one-bedrooms up 13.3% year-over-year to $3,415 as of early August — the highest since April 2020 and just below the pre-pandemic peak of $3,500. This is 71% higher than the national average. Two-bedrooms increased by 16.3% to $4,780, back to pre-pandemic prices, per Zumper. Return-to-office mandates and Mayor Daniel Lurie's recovery efforts are also spurring renewed demand for living in San Francisco, added DeLeon. Between the lines: This all comes as San Francisco remains roughly 140,000 homes short after decades of not building enough housing, making it hard to keep up with population growth and demand, said Kara Ng, a senior economist at Zillow. Even with flat population growth, today's housing gap would be hard to close at the current construction pace, Ng said. The shortage has fueled sky-high home prices — averaging nearly $6,000 a month in mortgage payments for a typical home with 20% down — making renting a relatively more affordable option, she added. "Because of the unaffordability issues, even high earners are priced out of buying homes in San Francisco, so that leaves a lot of demand for rentals," Ng said. What we're watching: Lurie's proposed zoning ordinance aims to alleviate that strain by building 36,200 new units by 2031, allowing for taller building heights and streamlined permitting rules.
Yahoo
11-08-2025
- Yahoo
4 things casinos have seen during the Las Vegas tourism downturn
Video above: July 30, 2025, coverage of Las Vegas Strip casinos struggling as 'local' casinos report 49-year high earnings. LAS VEGAS (KLAS) — Concerns about the Las Vegas economy — specifically, slow business on the Strip — have been simmering this year, and it seems no one has an answer to what is going on. Financial analysts are asking if it's tariffs, or the weather, or if there's something structurally shaky with how Las Vegas works. Caesars Entertainment CEO Tom Reeg, who has offered theories about consumer behavior in the past, doesn't have an answer this summer. 'It's tough to put your finger on that,' Reeg said last week. 'This is kind of normal seasonality that we haven't seen in a while.' Las Vegas has been on a hot streak coming out of the pandemic. The state saw casinos win record amounts from gamblers three years in a row before the run ended in June, the end of the fiscal year (July 1-June 30). But this year is different. A few interesting observations have emerged over the past weeks as leaders from Station Casinos, Caesars and MGM Resorts International have been peppered with questions about what's wrong with Las Vegas this year. Younger customers The declines in revenue and earnings aren't universal. 'Easily the best quarter in our company's history,' said Stephen Cootey, executive vice president, CFO, and treasurer at Red Rock Resorts (the publicly traded face of Station Casinos). Improvement projects at Green Valley Ranch, Durango Casino & Resort, and Sunset Station show the company's continued investment in the local market. Executives say local customers are happy, particularly at the oldest of those three properties. Frank Fertita III, CEO and chairman of the board, said renovations at Sunset Station are turning it into the Red Rock Resort of the East Valley, and he notes that it is accomplishing a long-term goal that is crucial to the company's future. 'We really have been able to lower the age group we've been able to attract to the property,' Fertitta said. For years, that has been a goal at casinos as the age of their core customer has continued to go up. Renovations at all the Station properties over the years have added something new: casino areas devoted to high rollers. High-limit slots and VIP gaming areas aren't just on the Strip now. Jackpots hit by players who bet a lot are happening at neighborhood casinos, too. That's one of the things being added at Durango, with 120 high-limit slots part of the plan as the casino adds 25,000 square feet on the gaming floor. That addition is expected to be complete in December. 'Durango continues to expand the locals market,' Cootey said. Since opening in late 2023, the casino has added 108,000 customers to its database. New players Several of the big companies have noticed an increase in uncarded players. They call them 'retail' players, and the numbers have increased over the past year. MGM, Caesars, Red Rock, and Boyd Gaming all mentioned them. Player databases are valuable to casinos. They track 'rated play' to keep track of their best customers. When you get a player's card, you're in the system. Who are these retail players that fly under the radar? Maybe they aren't interested in earning points toward comps, or they don't want the casino knowing their business. Whatever the motivation, casinos are noticing that they are opting out. It's kind of the opposite of casinos' efforts to create a 'digital wallet' that would be convenient — maybe too convenient for some gamblers. Timing of the downturn 'Vegas started leaking as a market, kind of end-of-May. That leak accelerated into June,' Reeg said. Caesars' revenue from Las Vegas dropped by 3.7% over the April-June second quarter. Net revenues of $1.054 billion were down from the $1.095 billion reported in the second quarter of 2024. Net income dropped from $268 million last year to $212 million this year. MGM saw a 4% drop in Las Vegas over the three months. But it wasn't just the big companies. Blake Sartini, chairman and CEO at Golden Entertainment, saw hotel occupancy at The STRAT Hotel, Casino & Tower plunge to 60% in June. That was far lower than the June average of 82% on the Strip. Last year, June occupancy was 88.3% on the Strip. The decline follows the drop in visitation (as compared to the same months in 2024) reported by the Las Vegas Convention and Visitors Authority (LVCVA): Down 7.8% in March, 5.1% in April, 6.5% in May, and 11.3% in June. So far this calendar year, visitation is 7.3% lower than last year. Early suggestions that the drop in travel from Canada was to blame only explain part of the decline this year. Overall, Canadian tourists make up only 3-4% of the customers at MGM and Caesars. Reeg acknowledged that it's an important segment, but he also noted the absence of two big-name entertainers this year: Adele and Garth Brooks. Another factor: People may not be traveling, but more and more of the U.S. population has access to gambling closer to home. In addition to local casinos, there's online gambling in some states. 'We think this is a temporary phenomenon in Vegas, but make no mistake, the summer is soft in Vegas,' Reeg said. He expects third-quarter results to be similar to the second quarter, but he has a positive outlook on the fourth quarter and 2026. Another interesting observation that Reeg spoke of: The ends of the Strip started to weaken in March and April. He didn't name the resorts. Tough 'comp,' but steady wins It's a familiar refrain on earnings calls: When records are set, sometimes it creates a comparison later that doesn't always look good. Super Bowl in 2024? February 2025 might not measure up. F1 in 2023? November 2024 will have a tough comp. But there wasn't a Super Bowl in Las Vegas in 2025, and the debut race for F1 won't ever be repeated. Those two events stacked in a four-month time period created momentum for tourism that carried through all of 2024. Las Vegas took full advantage. Clearly, tourism is down this year, and it is taking a toll. But last year was exceptional, and the comparison looks worse, partially because of the success in 2024. A comparison of the gaming win over the first six months of the two years show that after February, casinos have been consistent. In January, statewide 2025 numbers reflect the third-highest gaming win of all time. In February, the Strip's 2024 numbers are higher because of the Super Bowl. Las Vegas Strip casinos back in black, but June win not enough to reach state record 'The gaming win numbers month-over-month have been overall consistent,' Shelley Newell, senior economic analyst for the Nevada Gaming Control Board, said. 'We continue to monitor the data and find out what led to large wins or large losses for the licensees. In addition, we look to see what entertainment is offered throughout Nevada and good entertainment also drives the numbers,' Newell said. She pointed to the volatility of high-stakes baccarat and other casino games, but said results have remained consistent and stable despite lower visitor counts. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
