Receiving a lease renewal notice, many may be considering buying a home in Henderson this time. The first question that comes to mind is this: Is it better to rent for another year, or should I buy now since inventory has increased?

Following this thought process, let's summarize the Henderson market for October. To put it simply, rents are stable, home prices are holding steady, and interest rates have jumped significantly.

Let me clarify the reference point. As of the time of writing, I have not confirmed the October report from the Las Vegas Realtors. Therefore, I will use the sales prices from August and September, while the rent, inventory, and interest rates will be based on October figures.

Let's start with rent. According to the November report from Apartment List, the overall median rent in Henderson is $1,624.

It decreased by 0.1% over the month of October and is down 0.5% compared to a year ago. This indicates that it has hardly changed.

By bedroom type, the rent for a 1-bedroom is $1,323, and for a 2-bedroom, it is $1,565.

The metro area overall is even weaker. The median rent in the Las Vegas metro is $1,409, which is down 2.3% from a year ago, and Henderson is 15.2% more expensive than this.

If the renewal notice shows a significant increase, don't sign right away; check the local market rates first. Since the market is not in an upward trend, there may be room for negotiation.

However, the numbers vary quite a bit depending on the source. Trulia reported the average rent in Henderson in June as $2,228, but this seems to be due to differences in the data collection methods. If you live in a house, it would be inappropriate to apply apartment-centric figures directly.

Now, let's move on to buying. According to an analysis of MLS data by the local brokerage Nevada Real Estate Group, the median sale price for single-family homes in Henderson in August was $533,375. There were 382 transactions.

For September, it is recorded at $539,000 based on 383 transactions, but this is still a preliminary figure. Keep in mind that this is not an official announcement but rather a company's internal tally.

The median price for the 12-month period from September 2025 to August 2026 is $529,985. It's a sideways trend, neither a crash nor a surge.

Looking at the official figures for all of Southern Nevada, the median price for single-family homes in September is $470,000, which is the same as September last year. This is down $20,000 from the all-time high of $490,000 in May and June.

In the same month, the median price for condos and townhomes is $290,000, down 1.4% from a year ago. The transaction volume decreased by 7.4% for single-family homes and 12.6% for condos and townhomes.

Inventory has definitely increased. According to the same company's tally, the number of single-family homes for sale in Henderson rose from 1,697 on September 15 to 1,839 on October 31.

The median asking price for listings at the end of October is $599,999. This is over $60,000 higher than the August transaction price, so it's clear that you shouldn't judge the market solely based on asking prices.

Many homes have also reduced their prices. As of September 15, 44.0% of all types of listings had lowered their prices at least once, with a median reduction of $20,000.

The issue is the interest rates. As of October 29, the average 30-year fixed rate from Freddie Mac is 7.24%, which is the most recent figure I have confirmed.

Just a week earlier, on September 10, it was 6.76%, and on October 30, 2025, it was 6.17%. This means it has risen by 0.48 percentage points in just seven weeks, and I double-checked the numbers myself.

Let's do some calculations. For a $533,375 home with a 20% down payment, the down payment would be $106,675, and the loan amount would be $426,700.

At 7.24%, the monthly payment would be $2,908, while at 6.17%, it would be $2,605. That's a difference of $303 for the same house each month.

Property taxes and insurance are additional. For large communities like Cadence or Inspirada, estimates suggest that HOA and various fees could add $200 to $400 per month.

Comparing this to Trulia's average rent of $2,228 in June, the principal and interest alone would be $680 more. Considering the money tied up in the down payment, this is not a trivial difference.

Among the local news in October, Casara at West Henderson in western Henderson stood out. The city council unanimously approved a 390-unit affordable housing project near Las Vegas Boulevard and Larson Lane.

The project cost is $113 million, and the land spans 18.59 acres. According to FOX5, they secured federal land valued at $13.65 million for about $100 per acre.

Eligibility for residency is set at 60% or below of the area median income, with 42 units designated for those at 50% or below. KTNV reported that the 60% cap translates to an annual income of around $48,000, but the actual criteria may vary based on household size, so be sure to check the announcements.

Applications are expected to be accepted around mid-2028. This means it won't affect this year's lease renewals.

There may be differing opinions on the method of reducing land costs. Still, I see it as a practical choice given the need for housing for people working in hotels, hospitals, and schools.

Let's return to the lease renewal notice. If it were me, I would negotiate the increase based on the surrounding rents.

I won't give up on buying and will continue to monitor the price reduction history in potential neighborhoods. If it's new construction, I'll compare which option between the builder's rate buy-down and price reduction lowers the monthly burden more.

If I've found a home to live in for a long time and can handle the monthly burden in the 7% range, buying now isn't necessarily a wrong choice. However, if it's tight, I don't think there's any rush to make a decision. The answer will vary based on personal financial situations, so be sure to align the numbers with your loan officer.