Average Rent in 89118, Spring Valley, NV

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Current Versus Historical 89118, Spring Valley, NV Rents

89118 rentals average $1,195 for a 1-bedroom rental to $2,923 for a 4-bedroom rental. The median price of all currently available listings is $1,850, or roughly $1 per square feet.
For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $35,172 (-89.80%) year-over-year from $39,167 to $3,995. 1-bedroom rentals prices have increased by $2 (0.13%) year-over-year from $1,248 to $1,250. 2-bedroom rentals prices have increased by $43 (2.73%) year-over-year from $1,558 to $1,600. 3-bedroom rentals prices have increased by $83 (4.66%) year-over-year from $1,789 to $1,873. 4-bedroom rentals prices have increased by $178 (7.09%) year-over-year from $2,517 to $2,695. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone up by 4.97% this month. 2-bedroom rents have gone up by 3.56% this month. 3-bedroom rents have gone up by 1.72% this month. 4-bedroom rents have gone down by 5.38% this month.
Beds
Price / Sqft
May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
1 BR $1.68 $1,250 $1,248 (0.13%) $1,052 (18.86%)
2 BR $1.44 $1,600 $1,558 (2.73%) $1,346 (18.89%)
3 BR $1.31 $1,873 $1,789 (4.66%) $1,641 (14.12%)
4+ BR $1.14 $2,695 $2,517 (7.09%) $2,515 (7.16%)

Historical Rents in 89118, Spring Valley, NV

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 89118

There are a total of 6 cities nearby 89118. The average rent in 89118 is currently $2,310 per month. Our records show that Spring Valley, NV, with an average rent of $2,100, is the most affordable city nearby. In contrast, the most expensive city near 89118, Spring Valley, NV is Summerlin South, NV. Monthly rents here are on average $2,800 per month.

Let's compare 89118, Spring Valley, NV's rent against other top cities nearby by bedroom size. One bedrooms are about 15.06% more affordable. Two bedrooms in 89118, Spring Valley, NV are about 12.68% more affordable. Finally, rent for three bedrooms are about 10.00% more affordable. Want more information? Check out the top 6 cities near 89118, Spring Valley, NV in the following chart.
City Studio 1 Bed 2 Bed All
Spring Valley, NV N/A $1,250 $1,550 $2,100
Paradise, NV $1,950 $1,550 $1,850 $2,100
Las Vegas, NV $1,195 $1,195 $1,700 $2,250
Enterprise, NV N/A $1,500 $1,750 $2,370
Winchester, NV N/A $1,950 $3,000 $2,795
Summerlin South, NV N/A N/A $2,625 $2,800

Top Neighborhoods Near 89118

There are a total of 7 neighborhoods in or near 89118. Some of these neighborhoods include Downtown Las Vegas, Silverado Ranch, and Mountain Edge. We've included all of these top 7 neighborhoods in or near 89118, Spring Valley, NV in the following chart.

The average rent for these 7 neighborhoods in or near 89118, Spring Valley, NV is currently around $2,300 per month. A total of one neighborhood has a lower average rent. Meaning, only six neighborhoods have a higher average rent than $2,300. Interestingly, the neighborhoods' average rent is higher than 89118's average rent, which is only $1,850. Out of all the neighborhoods in or near 89118, Downtown Las Vegas has the most affordable average rent at $1,800 per month. Whereas, at $2,950 average rent per month, The Strip is the most expensive neighborhood in or near 89118. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Downtown Las Vegas, Las Vegas, NV $1,195 $1,575 $2,248 $1,800
Silverado Ranch, Paradise, NV N/A $1,338 $1,895 $2,095
Mountain Edge, Enterprise, NV N/A N/A $1,975 $2,200
Rhodes Ranch, Spring Valley, NV N/A $1,425 $1,580 $2,300
Mira Villas, Las Vegas, NV N/A N/A $1,885 $2,495
Southern Highlands, Enterprise, NV N/A N/A N/A $2,700
The Strip, Paradise, NV $2,125 $2,100 $3,699 $2,950

Top Counties Near 89118

There are a total of 7 counties located by 89118, Spring Valley, NV.

We've listed the top 0 counties in the chart below.
County Studio 1 Bed 2 Bed All

Top Zipcodes Near 89118

There are a total of 25 zipcodes in or near 89118, Spring Valley, NV. The average rent for all of these zipcodes is $2,238. A total of 6 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 89119, Paradise, NV at $1,338 per month. In comparison, the zipcode with the most expensive average rent of $3,000 per month is 89109, Paradise, NV.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 89118, Spring Valley, NV is $1,173 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,673 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in 89118, Spring Valley, NV. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
89117, Las Vegas, NV N/A $1,200 $1,595 $2,325
89148, Clark County, NV N/A $1,825 $1,600 $2,320
89128, Las Vegas, NV N/A $1,195 $1,600 $2,023
89113, Spring Valley, NV N/A $1,368 $1,595 $2,423
89135, Clark County, NV N/A N/A $2,625 $2,800
89178, Enterprise, NV N/A N/A $1,723 $2,200
89139, Enterprise, NV N/A N/A $2,700 $2,425
89129, Clark County, NV N/A $1,345 $1,700 $2,323
89141, Enterprise, NV N/A N/A $1,995 $2,565
89147, Spring Valley, NV N/A $1,395 $1,650 $2,290

Frequently Asked Questions - 89118 Average Rents

What is the average rent price in 89118, Spring Valley, NV?
The average monthly rental price for 89118, Spring Valley, NV apartments for rent is approximately $1,850. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 89118, Spring Valley, NV rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 89118, Spring Valley, NV.
How much is a studio apartment in 89118, Spring Valley, NV?
The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in 89118.
How much is a one bedroom apartment in 89118, Spring Valley, NV?
The average monthly rental price for one bedroom apartments is $1,195 and an average price per square feet of $1.68. There are a total of 11 one bedroom apartment listings currently available for rent in 89118.
How much is a two bedroom apartment in 89118, Spring Valley, NV?
The average monthly rental price for two bedroom apartments is $1,598 and an average price per square feet of $1.44. There are a total of 20 two bedroom apartment listings currently available for rent in 89118.
How have rent prices in 89118, Spring Valley, NV changed this year?
Rent prices for rentals in 89118, Spring Valley, NV can fluctuate yearly. Specifically, studio rental prices have changed by -0.90%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by 0.03%, and three bedroom rental prices have changed by 0.05% year-over-year.
What is a reasonable rent price in 89118, Spring Valley, NV?
A reasonable rent price in 89118, Spring Valley, NV is around $1,480/month. You can search for these reasonably priced rental listings on RentHop.
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