Las Vegas Valley rents are dropping faster than anywhere else in the country right now, according to a new report from Realtor.com.

Rents in the valley dropped 13.6 percent month over month in August, tying Atlanta for the largest drop of any metro in the U.S. followed by Austin, Texas (13.4 percent), the report said. The median asking rent for all bedroom counts in the valley sits at $1,443, a 4.6 percent drop year over year for the month of August.

However, over the past six years rental rates in the valley have risen 19.8 percent, outpacing previous time frames as the report noted renters have still been “squeezed by significant increases since the pandemic.” The valley outpaced the national average over the past six years (17 percent) however the average asking rent remains below the

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