LAS VEGAS (KSNV MyNews3) -- If you rent an apartment or home in the Las Vegas area, you might be wondering how your rate compares to other renters.
According to researchers at UNLV, rental rates are going down.
The report says that the average rental rate for an apartment in the valley is around $740 a month, down about $3 from last quarter.
Overall, average rates have dropped more than 15 percent since 2007.
Both property managers and analysts alike are optimistic about the future
The highest rates in the area were found in Summerlin and the southwest. The cheapest rental rates are on the valley's northeast side.