LAS VEGAS (KLAS) – Finding an affordable rental is proving to be a difficult task these days.
A recent report shows the valley has some of the highest rent increases in the country.
âThe cheapest I’ve found right now is $ 1,800,â said Amanda Justice who is currently looking for a rental.
Justice is one of the many tenants trying to find affordable housing.
However, finding a three bedroom rental within your budget is not easy.
âThe prices I see don’t match where they’re renting it for,â she told 8 News Now.
A recent report from Apartment Guide shows rent is up 45% in Henderson compared to a year ago.
The Las Vegas area tops many rent increase lists.
âWe have a housing shortage, which also means a rental housing shortage,â said Trish Nash, a real estate agent.
She adds that it is easy to spot new apartment complexes under construction because the demand is there.
8 News Now Journalist Joe Moeller took a look at the Zillow online real estate website to compare new two-bedroom apartments across the valley.
His findings included that similar apartments would cost $ 1,660 in the northwestern part of the valley, $ 1,850 in the southwest, and over $ 1,700 in Henderson.
The most affordable area he discovered was the Northeast area with rentals around the price of $ 1,485.
Nash says the owners of 8 News Now are seeing what they can get.
âIf it’s a newer house you can ask for more, if there is a pool you can ask for more, then that’s really what the market will find out. A lot of owner investors are putting out there to see, can I really get $ 2,400, âshe said.
However, Nash says many can’t find what they want.
Joyce Hamblin left Las Vegas for Utah last week.
âIf I could back down in the blink of an eye, I would,â she said.
After searching for two months in Las Vegas, Hamblin says pricing and availability forced her to leave.
âWe were in desperate need of something and this was the first one so we had to load and move,â Hamblin said.