Home Values

Reno 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

$215,600

  • 14.6% 1-year change
  • 4.4% 1-year forecast

The median home value in Reno is $215,600. Reno home values have gone up 14.6% over the past year and Zillow predicts they will rise 4.4% within the next year. The median list price per square foot in Reno is $150, which is higher than the Reno Metro average of $149. The median price of homes currently listed in Reno is $299,900 while the median price of homes that sold is $235,900.

Foreclosures will be a factor impacting home values in the next several years. In Reno 2.4 homes are foreclosed (per 10,000). This is greater than the Reno Metro value of 2.3 and also lower than the national value of 4.0

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 is 7.9%, which is higher than the national value of 6.9%. 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 homeowners underwater on their mortgage is 21.6%, which is lower than Reno Metro at 21.7%.

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Relative ZHVI
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Reno Market Overview

Data through Sep 30, 2014
  • $215,600 ZHVI
  • 4.4% 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
    (Sep 30, 2015)
  • $299,900 Median listing price
  • $235,900 Median sale price
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Reno Market Health

Data through Sep 30, 2014
  • 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
  • 21.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.9% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2.4 homes Reno
2.3 homes Reno Metro
4 homes United States
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Neighborhoods in Reno

Name Median ZHVI
Southwest $314,200
South Reno $273,400
Northwest $271,400
Name Median ZHVI
South Central $254,400
Old Northwest - West University $183,800
North Valleys $171,300
Name Median ZHVI
East Reno $145,500
Northeast $114,900
 

Listings & Sales

Data through Sep 30, 2014
  • $150 Median list price / sq ft
  • $139 Median sale price / sq ft
  • 37.4% Listings with price cut
25.3%
Sold below listing
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Reno Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $1,340 Reno
    $1,379 Reno Metro
    $1,335 United States

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

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $0.87 Rent list price / sq ft
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