Las Vegas roommate rent: cheaper than Phoenix but rising faster over 5 years

• Today, renting as a roommate is 5.1% or $46 per month cheaper in Las Vegas than Phoenix.
• But rent in Las Vegas has seen much faster growth over a five-year period: roommate rent is up 27.7%, compared with 16.8% in Phoenix.
• In dollar terms, rent in Las Vegas is $186 per month higher than in Q2 2021, compared with $130 per month higher in Phoenix, according to new data from roommate site SpareRoom.

Look at the trajectory of rent in Las Vegas and Phoenix since 2019, and there are obvious similarities. Both saw steep rises during the pandemic years - and for some time after - but rent has been relatively stable for the past three years.

The price of renting as a roommate in a shared apartment in Las Vegas has hovered between $800 and £900 per month since Q2 2022, as shown in the chart below.

And, today, the average roommate rent in Las Vegas is $857 per month, 5.1% cheaper than Phoenix ($903 per month).

But it's Las Vegas that has experienced much faster rent growth over the past five years, comparing Q2 2026 with Q2 2021: roommate rents are up 27.7%, compared with 16.8% in Phoenix.

Five years ago, Las Vegas was $102 cheaper than Phoenix ($671 vs $773), whereas today it's only $46 cheaper.

Matt Hutchinson, director of roommate site SpareRoom, comments: “We do tend to see faster rent rises in cheaper markets because affordability has the biggest bearing on where people live. But in Las Vegas that affordability advantage is now shrinking. The roommate market has always seen intense demand and in Las Vegas, where there are lots of service-industry and hospitality workers, that's certainly the case. But due to the high cost of living, knowledge workers and professionals in their 30s, 40s and beyond are also looking to save by sharing, and Las Vegas has seen recent growth in higher-skilled sectors.”