Las Vegas Multifamily Market Report – August 2025

Market Overview

‍The Q3 2025 Yardi Matrix snapshot of the Las Vegas multifamily market shows rent growth stalled at just 0.1 percent year-over-year while stabilized occupancy remained at 93.8 percent. With 2,397 units completed through mid-year and more than 7,191 units under construction, elevated supply is clearly exerting pressure on leasing momentum, even as rents per unit held near $1,475.

‍About Yardi Matrix

‍Yardi Matrix is a research-driven firm specialising in multifamily housing markets and investment data. Their Las Vegas market report provides detailed insight into rent trends, absorption, occupancy, supply pipelines and transaction activity, enabling owners, developers and investors to evaluate timing, strategy and risk. To read the full report, click here.