Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$569,662+2.1% YoY · prices are rising
Market right nowBalanced, leaning sellersFewer homes for sale than last year, 20% have cut their price
Income needed to buy, per year$123,491About 1.4× the local median income ($89,700): a stretch for a typical household
Days on market60 daysFaster than a year ago: sellers have the edge
Next 12 months+2.4%Zillow expects prices to rise slightly
The typical home in Reno, NV is worth $569,662, up 2.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $515,074, so the area is 10.6% overvalued. It is a balanced market, leaning toward sellers: homes take about 60 days to sell, listings are down 15% from a year ago, 20% of listings have had a price cut. Zillow expects prices to rise about 2.4% over the next year. A household needs about $123,491 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $89,700. Typical rent is $2,069 a month, or $2,662 for a house. In the latest IRS figures, 1,896 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$569,662
Change in 1 year
+2.1%
Overvalued %
+10.6%
Show 7 more
Fair home value
$515,074
Change in 5 years
+10.2%
Zillow forecast, next 12 months
+2.4%
Home value to income
6.4×
Monthly mortgage payment (20% down)
$3,087
Income needed to afford it
$123,491
Property tax rate
0.45%
Rent and investing
Typical rent
$2,069
Typical rent for houses
$2,662
Price-to-rent ratio
22.9×
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HUD Fair Market Rent, 2 bedrooms
$1,774
Gross rental yield
4.36%
Cap rate (estimate)
2.83%
Market activity
Listings vs a year ago
−15.0%
Days on market
60
Listings with a price cut
20.4%
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Homes for sale
1,458
Pending sales per 100 listings
44
Asking price per sq ft
$333
People and jobs
Median household income
$89,700
Population change (1 year)
+0.9%
Unemployment rate
5.3%
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Population
578,734
Income adjusted for cost of living
$88,812
Net moves in (IRS)
+1,896
Cost of living (US = 100)
101.0
Schools, risk and environment
School rating (1 to 10)
6.1
FEMA hazard risk score (0 to 100)
93.3
Unhealthy air days a year
2
Show 4 more
Flood risk score
90.4
Wildfire risk score
98.7
Walkability (1 to 20)
9.4
Road, rail and air noise
54 dB
Questions people ask
Is Reno, NV overvalued?
Home prices in Reno, NV are well above what local incomes have historically supported: fair value is about $515,074, so the area is 10.6% overvalued.
Is Reno, NV a buyer's or seller's market?
Reno, NV is a balanced market, leaning toward sellers: homes take about 60 days to sell, listings are down 15% from a year ago, 20% of listings have had a price cut.
Are home prices going down in Reno, NV?
Home values in Reno, NV are up 2.1% over the last year. Zillow's forecast for the next 12 months is +2.4%.
How much do you need to earn to buy a home in Reno, NV?
A household needs about $123,491 a year to afford the typical home in Reno, NV at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $89,700.