Q3 2025 Las Vegas Multifamily Report

Market Overview

‍The Las Vegas multifamily market is showing caution in Q3 2025 as the pace of demand slows and supply remains elevated. Average asking rent fell to about $1,436 per unit and occupancy dipped to roughly 91.5 percent. With 3,496 units delivered year-to-date and muted net absorption, the market is leaning more in favour of renters.

‍About Cushman & Wakefield

‍Cushman & Wakefield is a global commercial real estate advisory firm that offers research, brokerage, valuation and capital-markets services. Their Las Vegas Q3 2025 multifamily MarketBeat report blends metro-level data on rent trends, occupancy, deliveries and pipeline conditions to help owners, developers and investors navigate timing and strategy. To read the full report, click here.