Despite experts predicting a more stable rental market in 2024, Nevada tenants are still struggling as prices outpace affordability for those earning the median income. Minimum wage earners in Nevada would need to work 82 hours a week to afford a one-bedroom apartment. Las Vegas experiences its ninth consecutive year of rent growth surpassing the national average, impacting local businesses. High-end homes in southwest Las Vegas Valley hit the market for $7,000 a month. Metro Phoenix sees rent increases despite new construction. The impact of a $100 monthly rent increase is a common dilemma for Las Vegas residents, especially affecting senior citizens on fixed incomes.
The impact of a monthly rent increase by $100 is a common dilemma thousands of Las Vegas residents face, but senior citizens on a fixed income say they don’t have a way to fight back and worry their plight is becoming invisible in the eyes of the public. https://t.co/o7A1GuyCPw
Is there are large market for people willing to pay $35k a month rent in Miami? Or anywhere really? 😅 Genuinely curious https://t.co/ojuKXER40d
Metro Phoenix still seeing skyrocketing rent increases despite new construction https://t.co/xeikVqZjnF
At $7,000 a month, high-end homes have hit the market for rent in the southwest Las Vegas Valley. https://t.co/wME2oBbVPK
Las Vegas has had its ninth consecutive year of rent growth surpassing the national average. @abelgarcianews talks with local business owners about how high rents are impacting them. https://t.co/hj2zqgJjzu
Even as rates plateau, many Nevada tenants are still feeling the strain of high rent. @csauvageau_1998 takes a look at what happened in the rental market in 2023, and what experts think is next: https://t.co/LbuDvA6cUU
"...a person earning minimum wage — currently $11.25 an hour if an employer doesn’t offer health insurance — would need to work 82 hours a week to afford a one-bedroom apartment in the Silver State." Stunning statistic. @csauvageau_1998 on the housing market. https://t.co/cHTtodnbY7
Though experts predict a more stable rental market in 2024, many Nevada tenants are still feeling the strain as prices continue to outpace what is affordable for a person earning the median income in the state. @csauvageau_1998 reports: https://t.co/LbuDvA6cUU