Reno, NV
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Reno Neighborhoods Since 2000




Reno, NV Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Reno Housing Market Information

With a population of 241,445, 92,283 total housing units (homes and apartments), and a median house value of $275,318, 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 49.72% of the city's housing units. Other types of housing that are prevalent in Reno include large apartment complexes or high rise apartments ( 30.21%), duplexes, homes converted to apartments or other small apartment buildings ( 9.34%), and a few row houses and other attached homes ( 6.10%).

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 to 1999 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 between 2000 and later ( 23.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.54%). There's also some housing in Reno built before 1939 ( 4.10%).

Vacant housing appears to be an issue in Reno. Fully 10.31% of the housing stock is classified as vacant. Left unchecked, vacant Reno homes and apartments can be a drag on the real estate market, holding Reno real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Reno Home Appreciation Rates

Reno's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Reno during the period has been just -1.44%, which is lower than 80% of US communities.

Appreciation rates are so strong in Reno that despite a nationwide downturn in the housing market, Reno real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reno appreciation rates continue to be some of the highest in America, at 11.92%, which is higher than appreciation rates in 97.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reno. Reno appreciation rates in the latest quarter were at 1.96%, which equates to an annual appreciation rate of 8.05%.

Importantly, this makes Reno one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Nevada, our data show that Reno's latest annual appreciation rate is higher than 50% 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 2000, to assist you in making the best Reno real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$275,318

Reno, NV HOME PRICES

Value Range
> $1,497,000 0.7
$1,123,001 - $1,497,000 1.1
$748,001 - $1,123,000 2.6
$599,001 - $748,000 3.8
$449,001 - $599,000 10.9
$300,001 - $449,000 23.2
$150,001 - $300,000 31.1
$75,001 - $150,000 13.3
$0 - $75,000 13.3

High for NV
Very High for Nation

Value Relative to Nation Value Relative to State
18.9909762100082 22.0

Number Of Homes And Apartments:
92,283

Reno Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NV*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
71.08% 3.16% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,233 / per month

Homeownership Rate

Homeownership
Owners 45.27
Renters 54.73
Vacant 10.31

Housing Market Details

 

Age of Homes

AGE OF Reno HOMES
2000 or Newer 23.8
1970 - 1999 51.6
1940 - 1969 20.5
1939 or Older 4.1

Types of Homes

TYPE OF Reno HOMES
Single-Family 49.7
Townhomes 6.1
Small Apt. Buildings 9.3
Apt. Complexes 30.2
Mobile Homes 4.5
Other 0.1

Home Size

SIZE OF Reno HOMES
No Bedroom 5.32
1 Bedroom 17.30
2 Bedrooms 28.50
3 Bedrooms 32.03
4 Bedrooms 13.76
5 or more bedrooms 3.09