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Nevada Rents Take Steep Drop

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(photo: Justin Sullivan/Getty Images)

(photo: Justin Sullivan/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
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(San Francisco, CA)  —  It’s cheaper to rent a home or apartment in Nevada than it was nearly two years ago.

A survey by ApartmentList.com says rents in the Silver State have fallen 8.6% between January 2011 and this past June, the steepest drop in the nation.

By contrast, 34 out of 45 states surveyed saw an increase in monthly rents, with North Dakota, New York and Massachusetts up more than 20%.

Despite increases, nearly half of renters surveyed say it’s smarter than buying.  One out of four renters say they will never buy a home.

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