The housing market in Reno, MN is quite strong compared to the national average. The median value of homes in Reno is $437,300, which is significantly higher than the US median house value of $338,100. Furthermore, while the US saw a 1 year appreciation of 8.27%, the appreciation rate for real estate in Reno over that same period was 7.75%. This indicates that there is substantial demand for housing in Reno and that the area has been able to maintain a steady increase in home values over time.
The median home cost in Reno is $437,300. Home appreciation the last 10 years has been 77.8%. Home Appreciation in Reno is up 13.6%.
Average Age of Homes
- The median age of Reno real estate is 22 years old
The Rental Market in Reno
- Renters make up 3.5% of the Reno population
- 0.0% 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.