"Las Vegas multifamily market report Q3 2025"

Market Overview

‍The multifamily market in the Las Vegas Metropolitan Area is shifting ground as we move through Q3 2025. Average asking rent fell to approximately $1,436 per unit, while occupancy dipped toward 91.5 percent amid slowing absorption and 3,496 units delivered year-to-date. Although demand still exists, the market is tilting toward a more tenant-favourable phase as supply remains elevated.

‍About Avison Young

‍Avison Young is a global commercial real estate advisory firm providing leasing, investment sales, property and infrastructure services. Their Q3 2025 Las Vegas multifamily report brings together metrics on rent trends, occupancy, absorption and supply pipelines to help owners, developers and investors evaluate positioning and timing. To read the full report, click here.