Las Vegas, NV Multifamily Market Report | Colliers | Q1 2026

Market Overview‍

Las Vegas multifamily vacancy tightened to 5.9% in Q1 2026, down 0.6 points year-over-year, as demand continued to absorb new inventory. Average asking rents edged up to $1,465 per unit from $1,461 a year prior, and average rent per square foot increased to $1.58. Inventory grew by 1,464 units in the quarter, higher than the 1,162 units delivered a year ago, with completions spread across the Central, Henderson, North Las Vegas, Northwest, and Southwest submarkets. A total of 6,116 units remained under construction across six active submarkets.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 60 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Las Vegas multifamily report tracks vacancy, rents, deliveries, and construction activity to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.