Las Vegas rents are trending upward
In business news, Las Vegas rents are trending upward and home prices are at record highs again, according to reports from Redfin and the National Association of Realtors. The report shows more than half of Las Vegas renters can't afford their current apt. A Las Vegas household needs to make around $61,000 to afford the median apartment rate in the Valley, but the estimated median income for a local renter is about $56,000, according to the report. This means only 46% of renters in Las Vegas are living in apartments they can afford if they are spending 30% or less of their monthly income on housing. For more on the report, visit lvrj.com.