Reno, NV Housing Market
AI-powered market intelligence for the Reno, NV metro area.
PropertyIQ Scores
Reno, NV Market Analysis
Market Overview
Reno’s housing market is relatively expensive compared with Nevada overall, but its PropertyIQ Score of 46 out of 100 signals a cooling or mixed environment rather than a strong seller’s market. The median home value is $570,858, well above the state average of $442,027. The rent index is $2,055, also above the state average of $1,489. At the same time, Reno’s unemployment rate of 4.2% is lower than Nevada’s 5% benchmark, and median household income is $84,684, above the state average of $75,561. These figures point to an economically healthier but higher-cost market than the state as a whole.
However, the top drivers behind the PropertyIQ Score show that sales momentum has softened. The 12-month home value momentum is 3.14%, but the 3-month momentum is -0.09%, and the year-over-year home value change is reported as just $3. The median days on market is 51 days, and 21.4% of listings have had a price cut. Together, these indicators suggest a market that has moved away from rapid appreciation and toward more balanced or buyer-favorable conditions. Population growth data is not available, so
AI-generated analysis based on current market data. Last updated September 26, 2026.
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Reno, NV Housing Market Overview
The Reno, NV metro area is one of 900+ US metropolitan markets that PropertyIQ scores each month. A single PropertyIQ Score blends Zillow price momentum with Realtor.com market-flow signals to estimate 3-year excess appreciation versus the market's state — showing not just where prices stand today, but how the market is positioned relative to its peers.
Mountain West markets combine outdoor lifestyle appeal with booming tech and remote-work migration. Cities across Colorado, Utah, Arizona, and Nevada have experienced some of the nation's fastest appreciation, though rising interest rates have introduced new dynamics to these previously red-hot markets.
For the Reno, NV market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets.
View Reno, NV's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
Counties in the Reno, NV metro area
ZIP codes in the Reno, NV metro area
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Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.