Rent prices in Henderson and Las Vegas are moving in different directions. According to a report by Zumper, the average price for a one-bedroom apartment in Henderson was $1,530 in April. That’s about 1.3% lower than the month before and 0.6% lower than the same time last year.
Meanwhile, in Las Vegas, the average rent for a one-bedroom went up to $1,230, which is a 2.5% increase from March. However, compared to last year, prices in Las Vegas stayed about the same.
So, while Henderson saw a small drop in prices, Las Vegas renters are paying more than they were just a month ago.
What’s Causing the Change?
The reason for this shift is mostly about supply and demand. Both cities are building more apartments, but the demand is different in each place.
In Las Vegas, more people are moving in or looking to rent. Even though there are more units being built, the number of people who want to rent them is still high, so landlords can raise prices.
In Henderson, there are also new apartment buildings going up, but demand hasn’t kept pace. That means landlords are dropping prices a bit to attract renters. More supply than demand usually brings prices down.
Comparing Different Areas Around Las Vegas
Across the Las Vegas Valley, Henderson still has some of the highest rents. Here’s a breakdown of average one-bedroom rents in April:
- Henderson – $1,530
- Spring Valley – $1,390
- Las Vegas (overall) – $1,230
- Winchester – $1,220
- North Las Vegas – $1,040
North Las Vegas saw the biggest drop in rent prices, falling 11.1% compared to last year, and 6.3% just from March. That’s a big shift and shows how fast prices can change depending on the area.
New Apartments in Henderson Are Bigger
Even though rent in Henderson has dipped slightly, renters there are getting more space. The average size of a new apartment in Henderson is about 1,000 square feet, which is larger than in many U.S. cities.
In fact, Henderson ranked 10th in the nation for apartment size. The only city with a bigger average new apartments was Tallahassee, Florida. So, while you may pay more in Henderson, you’re likely getting more room for your money.
What This Means for Renters and the Market
Across the United States, rents are showing signs of leveling out or dropping. In April:
The average one-bedroom rent nationwide dropped 0.5% to $1,517
The average two-bedroom rent fell 0.2% to $1,901
These small drops suggest that rent growth is slowing down as more apartments become available. A big reason for this is the “construction boom” that happened during the pandemic. Many buildings that were started in 2021 and 2022 are now finishing, so more units are entering the market at the same time.
