Whether or not you just hit the jackpot, you might want to rent rather than buy in Las Vegas.
Vegas is on a winning streak right now, with people from all over the country looking for a seat at the table in the city’s real estate market. Millionaires have also flocked to the area for a number of reasons, with Nevada tax benefits at the top of the list.
This influx has resulted in a shortage of inventory in the residential market. A local broker, Rob jensen, which specializes in luxury homes in monitored communities, notes that the inventory available in high-end areas is down 48% from the same period last year. And potential buyers keep coming.
âA lot of them have a hard time finding and buying exactly what they’re looking for. So they decide to rent while they continue their research, or wait until the house of their dreams is built. In this market, building a new home can take from one to two years, âhe says.
Beyond the waiting game, the choice to rent makes sense for people who are diving into desert real estate for the first time.
âThere are also people who come from Los Angeles who sell their homes at what they perceive to be the top of the market and then want to rent while they decide where exactly they want to live,â Jensen adds.
Other people interested in premium rentals include NFL athletes and team leaders Raiders and the NHL Golden Knights, who, as Jensen astutely notes, may not have long-term contracts with their teams.
These factors add up to a blazing rental market with prices that even exceed homeowners’ expectations. For an overview of Sin City’s upscale market, we’ve listed the top 10 most expensive rentals in the Las Vegas area right now.
Remember, these are list prices only. Renters who feel lucky can roll the dice to negotiate a better deal. Las Vegas residents know it never hurts to try.
Price: $ 25,000 per month
Mid-Century Modern Classic: This expansive 7,256 square foot home is located in the heart of the Historic District, closer to downtown and the Arts District than the Strip.
It’s a bit surprising to see a mid-century modern at the top of the list. Not because the seven-bedroom home isn’t spacious, but because it’s not part of new construction in the hills above the Strip, home to some of Las Vegas’ most expensive residential properties.
Located on a 1.23 acre lot, the mansion offers a swimming pool as well as two separate casitas. Other bonuses include three fireplaces and a gourmet kitchen with Sub-Zero, Wolf, and Miele appliances.
Price: $ 23,500 per month
Fun and elegance: Built in 2003, this three-story Tuscan villa is located in the family-friendly town of Summerlin.
Measuring 9,377 square feet, the five-bedroom home features high ceilings, an open floor plan, and luxurious finishes. A games room on the lower level includes a built-in bar and a home cinema. A lovely swimming pool and a separate casita make this property even more attractive.
Price: $ 20,000 per month
Before ! This seven-bedroom Mediterranean-style mansion is located in the Southern Highlands Country Club, which is closed by caretakers.
Built in 2015, it is offered partly furnished. Some of the finer features include an open gourmet kitchen, pool room, and rooftop terrace with views of the Strip. There is also one piece of equipment that you don’t find in many rental properties: a hookah lounge!
Price: $ 19,000 per month
Where we belong: Not all of the houses on this list!
This luxurious high-rise condo is located in the Veer Towers at CityCenter, which gives tenants direct access to the Aria, Crystals luxury mall, Waldorf Astoria, and of course, the Strip. This three-bedroom unit on the penultimate floor features furniture, finishes and artwork valued at over $ 800,000.
Price: $ 18,000 per month
Wonder of Waldorf: This luxurious three bedroom penthouse is located in the prestigious Waldorf-Astoria Residences and is fully furnished.
Highlights include a 36-color lighting system and a home automation system that controls blackout blinds.
Renters have their own elevator, concierge service and valet parking, as well as access to hotel amenities. This rental is also located in CityCenter, a short walk from shopping and the Strip.
Price: $ 16,900 per month
Fabulous family headquarters: This spacious Mediterranean is in a guarded area of ââSummerlin’s The Willows, a development with its own private park.
The 9,476 square foot, seven bedroom home offers everything a family could ask for, including a basement game room with a pool table. Plus, you’ll find towering ceilings, an open floor plan, grand staircase with ornate iron railings, and a lush landscaped backyard with a swimming pool.
Price: $ 16,000 per month
Long service life: The owners combined two units on the 40th floor of the Waldorf Residences to create a 2,753 square foot residence with master bedrooms at both ends. Premium custom decor takes this unit to the next level.
Price: $ 13,995 per month
Princely property: This contemporary six bedroom home is located just off the Strip. But thanks to an elaborate home theater, plus a backyard pool and spa, a tenant might never want to leave the house.
Measuring 6,371 square feet, it has plenty of room for a family, as well as the overnight visitors who always seem to be heading to Las Vegas.
Price: $ 12,500 per month
Oasis off the Strip: Built in 1995, this luxurious house has been recently renovated. The proof is in the clean lines of the house, inside and out.
With balconies, terraces and a large lawn, this huge six bedroom house is even more spacious. Many palm trees in the front make the place feel like an oasis.
Price: $ 12,000 per month
Fit for a queen: This designer furnished four bedroom retreat in the Queensridge development offers 3,798 square feet of living space that is more manageable.
The house is elegant, but extremely suitable for pets and children. There are smart home amenities throughout and a beautiful herb garden at the back.