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More Households in Las Vegas Rent Than Own

March 24, 2012 By ThreeArchInvestors

Las Vegas has become a city of renters, even though it’s far less expensive to buy a home than to rent one in the metropolitan area.

From a peak of 64 percent home ownership in 2000, the Las Vegas Valley ownership rate is now at 48 percent – and is expected to continue to fall.

About half of the 100,000 existing homes sold in the region over the past two years have been all-cash transactions, an indication that they’re being bought by investors rather than primary residents. This is a clear indication that most of these homes will end up as rentals.

Read more of the online article at the Las Vegas Review Journal.

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