{"id":1004161398,"date":"2016-12-15T01:22:03","date_gmt":"2016-12-15T09:22:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161398"},"modified":"2025-02-26T23:30:59","modified_gmt":"2025-02-27T07:30:59","slug":"yardi-matrix-better-odds-in-las-vegas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-better-odds-in-las-vegas\/","title":{"rendered":"Yardi Matrix: Better Odds in Las Vegas"},"content":{"rendered":"
\"Las<\/a>

Las Vegas rent evolution, click to enlarge<\/p><\/div>\n

Though still in recovery mode, Las Vegas\u2019 multifamily market is benefiting from an expanding economy and rising demographics. Employment gains are widespread, with activity led by the mining, logging and construction; professional and business services; and leisure and hospitality sectors. More than $10 billion worth of gaming and hospitality projects are under development, including the Lucky Dragon Hotel and Casino, slated for completion in early December, and Genting\u2019s $4 billion Resorts World Las Vegas.<\/p>\n

Employment opportunities mixed with the low cost of living have bolstered population growth, which in turn has increased occupancy rates and put pressure on rents. With occupancy of stabilized properties up to 95.1 percent as of September, average rents rose in the third quarter to $881.<\/p>\n

Construction is picking up steam: More than 1,800 units are slated for completion by the end of the year and another 5,300 are currently under construction. However, with development substantially targeted toward the higher-end renters and many of the new deliveries focused on the Lifestyle segment, the metro is facing a growing affordability problem. Meanwhile, improving property fundamentals and relatively high yields are intensifying demand for multifamily assets, and transaction volume climbed 50 percent year-over-year through November.<\/p>\n

Read the full Yardi Matrix Report.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Though still in recovery mode, Las Vegas\u2019 multifamily market is benefiting from an expanding economy and rising demographics.<\/p>\n","protected":false},"author":1318,"featured_media":1004161407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,1593,21742,37795,15],"tags":[32785],"class_list":["post-1004161398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-las-vegas","category-latest","category-rc-occupancy","category-west","tag-yardi-matrix"],"acf":[],"yoast_head":"\nYardi Matrix: Better Odds in Las Vegas - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-better-odds-in-las-vegas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix: Better Odds in Las Vegas\" \/>\n<meta property=\"og:description\" content=\"Though still in recovery mode, Las Vegas\u2019 multifamily market is benefiting from an expanding economy and rising demographics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-better-odds-in-las-vegas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-15T09:22:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:30:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Las-Vegas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alexandraefimov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/\"},\"author\":{\"name\":\"alexandraefimov\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/3fcaab17c7c474e45c3c7782f5c01d2c\"},\"headline\":\"Yardi Matrix: Better Odds in Las Vegas\",\"datePublished\":\"2016-12-15T09:22:03+00:00\",\"dateModified\":\"2025-02-27T07:30:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/\"},\"wordCount\":218,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/12\\\/Las-Vegas.jpg\",\"keywords\":[\"Yardi Matrix\"],\"articleSection\":[\"Absorption\",\"Featured\",\"Las Vegas\",\"News\",\"Occupancy\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/yardi-matrix-better-odds-in-las-vegas\\\/\",\"name\":\"Yardi Matrix: Better Odds in Las Vegas - 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