$0
Average Rent
$1,353 average rent in Las Vegas, Q3 2026
0%
Occupancy Rate
91% occupancy rate Las Vegas, Q3 2026
0
T4Q Net Absorption
3,142 T4Q net absorption in Las Vegas, Q3 2026
0%
Annual Rent Change
-3% annual rent change in Las Vegas, Q3 2026
0
BPS Annual Occupancy Change
-30 BPS annual occupancy change in Las Vegas, Q3 2026
0
T4Q Unit Completions
3,350 T4Q net absorption in Las Vegas, Q3 2026
KEY TAKEAWAYS
- Annual absorption of 3,142 units has nearly matched the 3,350 units delivered, a sharp improvement from a year ago, with net absorption positive in every quarter of 2026.
- Construction starts have fallen 57% from a year ago, and the pipeline has dropped to its smallest level since 2018, pointing to a lighter delivery schedule beyond early 2027.
- Occupancy held at 90.9%, while effective rents declined 3.1% year over year to $1,353, though the annual rent decline has narrowed from nearly 5% earlier this year.
MARKET OUTLOOK
Las Vegas is working through the final stretch of its supply cycle. Annual absorption of 3,142 units has nearly caught up with deliveries, net absorption has been positive in every quarter of 2026, and annual starts have fallen…
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