Renters in Las Vegas have been riding a far rougher wave than their counterparts in Los Angeles over the past seven years, even though L.A. is still the pricier city on the surface.
Figures drawn from Zumper data show that the Las Vegas Valley’s median asking rent climbed about 17% between June 2019 and today, moving from roughly $1,053 to about $1,235. Over the same stretch, Los Angeles’ median asking rent barely budged, slipping from around $2,230 to about $2,200. When you stack those growth rates side by side, Las Vegas outpaces Los Angeles by nearly 20 percentage points in rent growth since 2019.
As reported by the Las Vegas Review-Journal, the percentage changes come from a fresh analysis of Zumper data. The paper cast the split as one more sign that some Sun Belt markets have been sprinting ahead of traditionally expensive coastal cities in the postpandemic rebound.
Zumper’s snapshot and today’s medians
Zumper’s June national report lists one-bedroom median asking rents of about $1,190 in the Las Vegas metro and roughly $2,200 in Los Angeles. So on a straight price comparison, L.A. is still the heavier lift for tenants, even if Vegas has seen the bigger percentage run-up since 2019…