Reno Housing Market

Reno, which has long been the affordable housing option for homebuyers who can’t pay Tahoe prices, is seeing a growth in population that’s driving up the cost of homes and condos, and pushing rental prices to new highs.

By the end of the third quarter in 2017, the price of a single-family home had risen to $349,500. That’s more than a 5 percent increase from the previous quarter, and up 9 percent from 2016. During this same quarter five years ago, by contrast, the median sales price in Reno/Sparks was just under $175,000.

The rental market, which is close to saturated, is seeing modest suburban homes in good school districts like McQueen High School fetching close to $1/square foot. In areas that are trending, like Midtown, some rentals are…

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