A wave of new luxury apartments over the past two years has forced multifamily owners across the Sun Belt to lower rental rates to remain competitive, and Las Vegas is no exception.
Las Vegas multifamily market loses earlier rent gains as competition increases
About 11,000 apartments opened in 2023 and 2024
By Danny Khalil
CoStar AnalyticsAugust 8, 2025 | 3:10 P.M.
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