Reno, NV is known for its affordable housing compared to the rest of the United States. The median value of a house in Reno is $494,500 which is significantly lower than the US median value of $338,100. Despite this affordability, the one year appreciation rate of 5.88% in Reno is still lower than the US rate of 8.27%. This can be attributed to a number of factors such as stricter zoning regulations and the slower growth of job opportunities in Reno compared to other cities around the US.
The median home cost in Reno is $494,500. Home appreciation the last 10 years has been 223.7%. Home Appreciation in Reno is up 11.7%.
Average Age of Homes
- The median age of Reno real estate is 32 years old
The Rental Market in Reno
- Renters make up 47.6% of the Reno population
- 1.9% of houses and apartments in Reno, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.