Las Vegas, Nevada Short-Term Rental Market
Las Vegas STRs averaged $220/night at 61.5% occupancy in April 2026 across 19,340 tracked listings.
Quick Answer: Las Vegas, Nevada is an active short-term rental market. average occupancy is 62%. average monthly revenue is $3,632. average daily rate is $220. the top operator is StripViewSuites with 628 listings. market score is 62/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Las Vegas draws 41.7 million annual visitors, and the STR market reflects a city where hotel competition is intense and regulatory constraints have shaped the supply profile. As of April 2026, the average daily rate across all Las Vegas STR listings was $219.71, with average occupancy at 61.5% and RevPAR at $135.18. Revenue per listing averaged $3,632 in April.
The market carries 19,340 tracked listings. Entire-place listings account for 16,261 (84.1% of the total), with private rooms at 2,949 and shared rooms at 130. Channel distribution is heavily Airbnb-weighted: 13,106 Airbnb-only listings, 1,061 VRBO-only, and 5,173 appearing on both platforms.
Bedroom mix is weighted toward smaller units: 1-bedroom properties lead by a large margin at 8,415 listings, followed by 2-bedroom (3,352), 3-bedroom (2,769), 4-bedroom (2,335), and 5-plus bedroom (2,341). The 1-bedroom dominance reflects the condo and apartment inventory that characterizes much of the Las Vegas STR supply.
Year-over-year performance in April 2026 was negative across all metrics: occupancy down 3.23 percentage points, ADR down 6.12%, and revenue down 5.35%. The Apivex overall market score is 62.39 out of 100, with seasonality scoring an exceptional 97.45 (very low swing, favorable for operators) but revenue growth at 46.45 and rental demand at 57.26 reflecting near-term softness.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 54% | $183 | $2,783 |
| Feb | 57% | $180 | $2,647 |
| Mar | 63% | $195 | $3,411 |
| Apr | 61% | $195 | $3,250 |
| May | 60% | $209 | $3,272 |
| Jun | 61% | $192 | $3,276 |
| Jul | 64% | $197 | $3,410 |
| Aug | 57% | $193 | $3,199 |
| Sep | 60% | $195 | $3,087 |
| Oct | 63% | $201 | $3,447 |
| Nov | 57% | $190 | $2,999 |
| Dec | 58% | $192 | $2,995 |
Top Short-Term Rental Operators in Las Vegas
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | StripViewSuites | 628 | 26,515 | ★ 4.66 |
| 2 | Doug | 326 | 5,278 | ★ 4.89 |
| 3 | Desert Escape Residences | 247 | 2,094 | ★ 4.17 |
| 4 | Christian Taylor Vacations | 210 | 449 | ★ 4.69 |
| 5 | Las Vegas Condo Rentals | 206 | 16,345 | ★ 4.75 |
What Kind of STR Should I Buy in Las Vegas?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 8,415 |
| 2 bed | 3,352 |
| 3 bed | 2,769 |
| 4 bed | 2,335 |
| 5 bed | 2,341 |
ADR by Property Tier
| Entire Home | $244 |
| Luxury | $530 |
| Professionally Managed | $236 |
Revenue by Dwelling Type
| Apartment | $2,897 |
| Entire Place | $4,021 |
| House | $4,201 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 67.8% |
| vrbo | 5.5% |
| both | 26.7% |
Investment Analysis
Las Vegas presents a distinctive investment profile: moderate ADR, improving seasonality stability, but meaningful regulatory barriers for non-owner-occupied operators and a near-term revenue headwind.
At a typical home value of $426,069 (Zillow, April 2026) and an April average revenue of $3,632 per listing, the annualized gross revenue runs approximately $43,584 against a $426,069 entry cost, producing a gross yield of roughly 10.2%. The 2025 annual average of $3,628 per month implies a similar annualized figure of approximately $43,536.
Tier data shows a notable anomaly: the professionally managed ADR of $235.68 is below the entire-home tier ADR of $243.79. This reflects that PM companies in Las Vegas disproportionately manage condo inventory, which commands lower rates than the single-family home segment. Luxury-tier listings averaged $530.48 per night, 142% above the overall market average.
April revenue by property type: apartments averaged $2,897, entire-place listings $4,021, and houses $4,201. The house-to-apartment spread of $1,304 per month is substantial, and investors targeting the house segment would see materially different returns than the market-average figures suggest.
The housing market shows deep inventory: 8,426 active listings, a sale-to-list ratio of 0.925, and 32 median days to pending, indicating a market where buyers have meaningful negotiating leverage relative to list price.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Las Vegas STR bookings show an average lead time of 45 days and an average length of stay of 4.50 nights as of April 2026.
The 45-day lead time reflects Las Vegas’s mix of convention-driven and leisure travel. Convention-goers often book far in advance (90-plus days), while leisure visitors frequently book closer to the date. The 45-day average represents this blend. Operators should watch convention calendar dates; rooms near the convention center can justify rate premiums during major events such as CES, SEMA, and convention weeks.
The 4.50-night average stay is in line with mid-range vacation markets. It is longer than a typical urban STR (2-3 nights) but shorter than a pure beach resort (5-7 nights). For a 30-night month at 61.5% occupancy (approximately 18.5 booked nights), a 4.50-night average implies roughly four check-in/check-out cycles.
The combination of moderate lead time and multi-night stays makes Las Vegas a reasonable market for standard dynamic pricing tools. Unlike some resort markets where last-minute discounting is necessary to fill gaps, Las Vegas’s high overall demand base means most operators can hold rates with modest last-minute adjustment windows.
Short-Term Rental Regulations
Las Vegas STR regulation is divided between two distinct jurisdictions that investors must evaluate separately.
City of Las Vegas (most residential neighborhoods outside the Strip corridor): STRs require a city business license plus a Conditional Use Verification (CUV) permit, with an annual license fee of approximately $500. The property must be the operator’s primary residence and the owner must be present on-site during every guest stay. Properties are limited to three bedrooms, must be at least 660 feet from any other licensed STR, and must be at least 2,500 feet from any resort hotel. Maximum occupancy is two persons per bedroom plus two, capped at 16. Minimum $500,000 liability insurance is required. Parties and commercial events are prohibited. The city intensified owner-occupancy enforcement in 2024, revoking licenses where owners were not residing on-site.
Clark County (unincorporated areas, including much of the Strip corridor and suburban residential areas outside city limits): STRs are permitted under Chapter 7.100 of the Clark County Code (adopted June 2022). However, as of January 2026, enforcement of this ordinance is enjoined by a federal court preliminary injunction issued December 17, 2025. Clark County voted to appeal. The injunction covers licensing requirements, daily fines, public nuisance declarations, and property liens. The legal situation remains in flux pending the appeal.
Occupancy tax across the Las Vegas area is approximately 13.38%. The cap of 1% of eligible residential housing units under the Clark County ordinance amounts to approximately 2,940 permitted units.
Enforcement within the City of Las Vegas is rated strict, particularly following the 2024 enforcement escalation.
Market Comparison
At $219.71 ADR and 61.5% occupancy, Las Vegas sits near national STR median ADR (approximately $220) but above median occupancy (approximately 55%). RevPAR of $135.18 is modestly above the national median, reflecting balanced but not exceptional demand relative to supply.
The Apivex total market score of 62.39 is the lowest of the six markets in this batch, driven by revenue growth at 46.45 (negative YoY trend) and rental demand at 57.26. The seasonality score of 97.45 is a genuine strength, making Las Vegas one of the most consistent-demand markets in the country from an operator’s cash-flow planning perspective.
Professional management in Las Vegas includes a mix of condo-focused operators and residential managers. The top five by listing count are: StripViewSuites (628 listings, 26,515 reviews, 4.661 average rating), Doug (326 listings, 5,278 reviews, 4.888 rating), Desert Escape Residences (247 listings, 2,094 reviews, 4.167 rating), Christian Taylor Vacations (210 listings, 449 reviews, 4.689 rating), and Las Vegas Condo Rentals (206 listings, 16,345 reviews, 4.751 rating).
StripViewSuites leads by listing count and review volume, operating primarily in the condo tower inventory near the Strip. The top five operators collectively manage approximately 1,617 of 19,340 total listings, or roughly 8.4% of the market.
Frequently Asked Questions About Las Vegas, Nevada
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