Reno appreciation rates and housing market information

Reno housing market information

With 180,658 people, 79,592 houses or apartments, and a median cost of homes of $270,764, Reno real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Reno, accounting for 43.72% of the city's housing units. Other types of housing that are prevalent in Reno include large apartment complexes or high rise apartments (34.00%), duplexes, homes converted to apartments, or other small apartment buildings (9.94%), row houses and other attached homes (6.45%), and a few mobile homes or trailers (5.56%).

People in Reno primarily live in small (one, two, or no bedroom) single-family detached homes. Reno has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Reno built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Reno built from 1940-1969 (29.16%). A lesser amount of the housing stock also hails from 1995 and later (15.48%), and some were built from 1939 and earlier (15.48%).

Reno home appreciation rates

Real estate appreciation rates in Reno have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.33% during the period.

Over the last year, Reno appreciation rates have trailed the rest of the nation. In the last twelve months, Reno's appreciation rate has been -16.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Reno were at -3.64%, which equates to an annual appreciation rate of -14.56%.

Notably, Reno's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Nevada, our data show that Reno's latest annual appreciation rate is higher than 21% of the other cities and towns in Nevada.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Reno differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Reno - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Reno real estate investment or home purchase decisions.