Vacancy cost & rent pricing calculator
An empty rental costs more than the missing rent check. Measure the loss, then test whether pricing a little lower would leave you ahead.
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How it's calculated
- Lost rent per day = monthly rent × 12 ÷ 365.
- Carrying cost per day = (mortgage + HOA + tax ÷ 12 + insurance ÷ 12 + utilities) × 12 ÷ 365.
- Pricing trade-off: both options are measured over the same window, the longer vacancy plus the lease term. The faster-leasing option collects rent for more days in that window.
- Break-even days = (rent difference × lease months) ÷ lower-rent daily rate.
Worked example
A home that rents for $2,100 loses $69.04 a day while vacant, or $2,071 over 30 days. On top of that the owner pays about $2,127 in carrying costs. Listing at $2,195 and waiting 45 days earns $26,340 over the 410-day window. Listing at $2,100 and leasing in 21 days earns $26,857, which is $517 more.
Why this matters in Las Vegas right now
Metro-wide, Las Vegas rents changed +0.1% over the 12 months to August 2026 (Zillow Observed Rent Index). When rents are rising, an overpriced home is sometimes rescued by the market. When they're flat, it isn't, and the listing goes stale. See your ZIP's trend in the rent benchmarks.
Questions about vacancy
How much does a vacant rental cost per day?
The rent you lose each day is monthly rent × 12 ÷ 365. At the Las Vegas metro typical rent of $1,742 (August 2026), that's about $57 a day, or about $1,718 for a 30-day vacancy. Your mortgage, HOA, taxes and insurance keep coming due as well, and you pay them out of pocket while no rent comes in.
Is it better to lower the rent or wait for a tenant?
Work out the break-even. A lower price costs you the difference × the lease length. It pays for itself if it shortens the vacancy by more than that amount ÷ daily rent. In the example above, dropping from $2,195 to $2,100 costs $95 × 12 = $1,140 over the lease. That's worth it if it fills the home at least 17 days sooner.
How do I estimate days to lease?
Look at how long comparable homes near you have been listed, and at your own history. Homes priced at or just under the market typically lease faster than those priced above it. The size of the effect varies by season, condition and location, so treat the "days" inputs as estimates and try a few scenarios.
What else causes long vacancies besides price?
Condition and presentation (cleanliness, paint, working A/C), slow make-ready between tenants, poor photos, limited showing availability, and restrictive pet or screening policies. HOA restrictions can also slow leasing. For example, since July 1, 2026 some Nevada HOAs can cap rentals under NRS 116.335.