Home Values

Reno Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$246,600

  • 12.1% 1-year change
  • 5.5% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Very Hot

Buyers' Market
Sellers' Market

The median home value in Reno Metro is $246,600. Reno Metro home values have gone up 12.1% over the past year and Zillow predicts they will rise 5.5% within the next year. The median list price per square foot in Reno Metro is $156, which is higher than the Nevada average of $117. The median price of homes currently listed in Reno Metro is $300,000 while the median price of homes that sold is $243,250. The median rent price in Reno Metro is $1,250, which is higher than the Nevada median of $1,195.

Foreclosures will be a factor impacting home values in the next several years. In Reno Metro 3.7 homes are foreclosed (per 10,000). This is lower than the Nevada value of 6.3 and also lower than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Reno Metro is 7.2%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Reno Metro homeowners underwater on their mortgage is 18.3%, which is lower than Nevada at 24.7%.

Read more
Relative ZHVI
- +

Reno Metro Market Overview

Data through Feb 28, 2015
  • $246,600 ZHVI
  • 5.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $300,000 Median listing price
  • $243,250 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Reno Metro Market Health

Data through Feb 28, 2015
  • 4.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 18.3% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 7.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

3.7 homes Reno Metro
6.3 homes Nevada
3.9 homes United States
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Cities in Reno Metro

Name Median ZHVI
Incline Village $558,900
Verdi-Mogul $331,500
Reno $208,000
Name Median ZHVI
Sparks $206,800
Cold Springs $177,900
Lemmon Valley-Golden Valley $174,600
Name Median ZHVI
Sun Valley $164,000
 
 

Listings & Sales

Data through Feb 28, 2015
  • $156 Median list price / sq ft
  • $141 Median sale price / sq ft
  • 7.6% Listings with price cut
23.5%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Reno Metro Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,395 Reno Metro
    $1,215 Nevada
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,250 Rent list price
  • $0.88 Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading