Median rents, rental comps, and market trends across 10 zip codes in Reno, NV.
Tesla's Gigafactory changed the employment landscape here practically overnight. No state income tax, a growing logistics sector, and a city that went from "small Tahoe town" to "actual metro" faster than most people realized.
Median Asking Rent
$1,975
Rent Change (YoY)
-2.8%
Avg Days on Market
49
Active Rental Listings
932
Median List Price
$557,450
Average across 10 zip codes
ZIP | Median Rent |
|---|---|
| 89519 | $2,995/mo |
| 89521 | $2,875/mo |
| 89511 | $2,495/mo |
| 89506 | $2,475/mo |
| 89523 | $2,450/mo |
| 89503 | $1,750/mo |
| 89509 | $1,690/mo |
| 89501 | $1,450/mo |
| 89512 | $1,415/mo |
| 89502 | $1,400/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,118/mo |
| 1 Bedroom | $1,440/mo |
| 2 Bedroom | $1,775/mo |
| 3 Bedroom | $2,438/mo |
| 4 Bedroom | $2,923/mo |
Aggregated median across all Reno zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 89511 | $1,289,000 |
| 89519 | $912,500 |
| 89523 | $689,900 |
| 89521 | $669,999 |
| 89509 | $650,000 |
| 89506 | $464,900 |
| 89503 | $460,000 |
| 89501 | $420,000 |
| 89502 | $320,000 |
| 89512 | $220,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,070/mo |
| 1 Bedroom | $1,240/mo |
| 2 Bedroom | $1,550/mo |
| 3 Bedroom | $2,150/mo |
| 4 Bedroom | $2,510/mo |
Fair Market Rents are published annually by HUD for the Reno metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Reno, NV is currently $1,975/month, based on active rental listings across 10 zip codes. Median asking rents have decreased by -2.8% over the past 12 months.
Asking rents vary significantly across the city. ZIP 89519 has the highest median asking rent at $2,995/month, while ZIP 89502 comes in at $1,400/month.
Rental listings in the area spend an average of 49 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Reno metro area is $1,550/month. Current median asking rents are above the FMR, which is common in growing markets.
Reno used to be just casinos and Burning Man, but that's changed significantly. Tesla's Gigafactory, plus distribution centers from Amazon, Switch data centers, and other companies have diversified the economy. No state income tax draws California refugees who want lower costs without going too far. Midtown and the areas near the university are premium. Sparks and Sun Valley are more affordable. Reno is a smaller market, so the tenant pool is thinner than a major metro. The growth has been real but it's also driven prices up — the "affordable alternative to California" narrative works less well when Reno rents keep climbing. Still, the fundamentals are better than they were a decade ago, and the employment base is genuinely more diversified.
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