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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 273,448 people, 110,480 houses or apartments, and a median cost of homes of $555,667, real estate costs in Reno are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Nevada communities.
Single-family detached homes are the single most common housing type in Reno, accounting for 50.24% of the city's housing units. Other types of housing that are prevalent in Reno include large apartment complexes or high rise apartments ( 31.53%), duplexes, homes converted to apartments or other small apartment buildings ( 8.85%), and a few row houses and other attached homes ( 5.60%).
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 ( 31.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.35%). There's also some housing in Reno built before 1939 ( 3.00%).
In the last 10 years, Reno has experienced some of the highest home appreciation rates of any community in the nation. Reno real estate appreciated 151.01% over the last ten years, which is an average annual home appreciation rate of 9.64%, putting Reno in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Reno definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Reno's appreciation rate, at 5.48%, has been at or slightly above the national average. In the latest quarter, Reno's appreciation rate has been 2.35%, which annualizes to a rate of 9.76%.
Relative to Nevada, our data show that Reno's latest annual appreciation rate is lower 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.
$555,667
for Nevada
for nation
110,480
$2,054 / per month