Las Vegas real estate website and blog Las Vegas Homes By Leslie is reporting via their blog that for 2014, renters spent $20 billion more in rent compared to 2013. According to the site’s owner, Las Vegas realtor Leslie Hoke, “That is a lot of money that could have been used to build equity in a home.” —
Hoke went on to say, “I understand not everyone is in the position to purchase a home in Las Vegas, nor should they right at this moment, but rent prices are soaring which makes home ownership the more affordable option.”
“The data shows rent prices in Las Vegas have increased by 5%, which spread out over a year means a 10% increase. That far outpaces most people’s wage increases,” said Hoke.
“Furthermore, the most recent data released by Greater Las Vegas Association of Realtors revealed the average priced condominium/townhome in Las Vegas is $105,000. At that price, with a 3.97% interest rate over 30 years, the mortgage payment would be about $500. The average rent price in Las Vegas in December 2014 was $1013,” Hoke said.
To learn more about renting vs buying a home in Las Vegas, visit http://www.lasvegashomesbyleslie.com/blog/buying-vs-renting-homes-in-las-vegas.html
About Leslie Hoke
Leslie Hoke is an award-winning Las Vegas Realtor with RE/MAX Premier Realty Group. Leslie has been selling home in the Las Vegas area for well over a decade after a successful business career with Disney Corporation. Leslie owns and operates the popular Las Vegas real estate website and blog Las Vegas Homes By Leslie.
Ms. Hoke earned RE/MAX’s award for ‘Top Las Vegas Realtor” in 2012, 2013 and 2014 due to her results-oriented approach to helping her clients meet their real estate needs. Ms. Hoke is a member of the Greater Las Vegas Association of Realtors and National Realtor Association. She is a certified short sale specialist, and has expertise in the areas of condominiums and new construction. Leslie is known for her client customer service, savvy marketing strategies, and track record of success. As a long-time Las Vegas resident, Ms. Hoke brings a wealth of knowledge about the Las Vegas real estate market.
Release ID: 80240