Reno, Nevada Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Reno, Nevada rental market.
Reno, Nevada
Average Apartment Rent
$1,677
Y-o-Y Change in Average
Apartment Rent
1.4%
As of November 2024
Compared to a year ago, Reno, Nevada apartments have recorded a 1.4% rent increase.
Reno, Nevada Average apartment rent trend
Reno, Nevada Average Apartment Rent
Reno, Nevada Apartment rent ranges
At 42.91%, apartments priced $1,500 - $2,000 represent the bulk of Reno, Nevada rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.88%.
Reno, Nevada Housing tenure**
Renters take up 52% of Reno, Nevada real estate, occupying a total of 57,085 units, while homeowners live in 53,395 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$53,733
Average household size of renter-occupied housing units**
2.24
Rental vacancy rate**
3.9%
Reno, Nevada Renter-occupied housing units by no. of bedrooms**
There are 21,271 rentals in Reno, Nevada with 2 beds making up the highest share of the market, at 37%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 587 units. Overall, the median number of rooms in Reno, Nevada homes for rent is 3.9.
Reno, Nevada Renter-occupied units by age of householder**
Most condos for rent in Reno, Nevada are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Reno, Nevada Renter-occupied housing units by family type**
Reno, Nevada Renter-occupied housing units by the presence of own children**
A total of 25,818 apartments for rent in Reno, Nevada, or 45% of all rentals are family households. Additionally, 25% of rental homes include children under the age of 18 – that’s 14,104 units. All in all, the median size of a renter-occupied household in Reno, Nevada is 2.24.
Reno, Nevada Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 27% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Reno, Nevada.
Reno, Nevada Renter-occupied units by year structure built**
The highest share of Reno, Nevada apartment rentals, namely 20% or 11,410 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (16%, 9,109 units), and the ones Built 1980 - 1989 (16%, 9,024 units).
Reno, Nevada Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Reno, Nevada renters (41%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Reno, Nevada condos for rent is 2018.
Reno, Nevada Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Reno, Nevada renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 14% have No vehicle available.
Reno, Nevada Means of transportation to work of householders living in renter-occupied housing units**
Reno, Nevada Geographical mobility in the past year for householders living in renter-occupied housing units**
Reno, Nevada Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Reno, Nevada apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
