Economic turmoil fuels apartment demand

February 2009
Las Vegas Business Press (10712186);2/2/2009, Vol. 26 Issue 5, pP10
The article announces that Applied Analysis has reported an increase in demand for apartments in Southern Nevada due to record unemployment and frozen credit markets. Reporting a 94% occupancy rate, the report found that the demand increased transitional housing needs and halted new developments in the valley's residential rental market causing occupancy rates and rents to inflate. Monthly rents rose to an average of $890 per unit in yearend of 2008, up by $7 from 2008.


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