Reno Housing Market: Trends & Prices (2025)
Reno Real Estate Market Overview
(Last Updated – 4/2025)
Welcome to the Biggest Little City in the World. Don’t let Reno’s reputation for being a lesser version of Las Vegas fool you; this small but mighty city boasts a thriving arts scene, excellent dining, a lively casino culture, and more.
Nestled in the Sierra Nevada foothills, Reno offers a unique blend of urban amenities and outdoor adventures. The city’s proximity to Lake Tahoe and the Sierra Nevada mountains makes it a paradise for outdoor enthusiasts, with ample opportunities for skiing, hiking, and biking. Reno also has a growing tech industry and a low cost of living compared to nearby California. With its friendly communities, diverse job market, and striking natural beauty, Reno is an appealing place to call home for those seeking a balanced lifestyle. Read on to learn more about the Reno real estate market, including housing prices, forecasts, and neighborhood demographics.
Overall Reno Market Trends
The real estate pros at Redfin consider the Reno housing market to be competitive at times.
The Reno real estate market is considered somewhat competitive, according to Redfin. In February 2025, the median home price was around $543,000, up 9% year-over-year. On average, homes in Reno receive one offer, sell for about 2% below list price, and sit on the market for 63 days (compared to 50 days a year ago). Highly desirable homes, however, often get multiple offers, tend to go for list price, and typically only sit on the market for a month before getting scooped up.
Recommended: Local Housing Market Trends by City$542,850
Median Sale Price
$323
Median Sale Price Per Square Foot
63 days
Median Days on Market
Reno Housing Market Forecast
Housing prices have been on the rise in Reno over the last couple of years, and the market is expected to remain strong through 2026, driven by a tight inventory that favors sellers. However, the news for buyers isn’t all bad: Home prices are still below their June 2022 highs, and prices aren’t rising as quickly as they once were. In addition, homes are generally sitting on the market a bit longer, giving buyers more time to shop around and evaluate their options.
How Hot Is the Reno Housing Market?
The Reno area attracts people from all over the country due to its affordability, strong economy, and beautiful scenery. All of these factors, including its steady population growth, continue to drive demand for housing in the area.
Compared to other West Coast cities like San Francisco and Seattle, Reno may be more affordable to buy or rent. This makes the area desirable for people looking to move out of more expensive areas. Plus, Reno’s proximity to popular destinations like Las Vegas and Lake Tahoe make it ideal for tourists and outdoorsy folks.
Reno also boasts a healthier job market than similarly sized cities, with its plethora of tech start-ups and small businesses. The business-friendly taxes, combined with low property taxes and a lack of state income tax, make Reno appealing to both corporations and people looking to relocate.
Recommended: Price-to-Rent Ratio in 50 CitiesDemographics of the Reno Market
Reno can provide almost any type of lifestyle residents desire, thanks to close access to mountains, lakes, modern city amenities, and an international airport.
As a result, this mid-size city attracts people of all ages and stages of life. The University of Nevada, Reno attracts young people who often stay and find employment after graduation. Reno is also a magnet for families, retirees, and working professionals.
As you might expect, Reno offers ample opportunities in the hospitality, restaurant, and gambling industries. But residents can also find work in a variety of other sectors, including education, health care, technology, entrepreneurial startups, clean energy, and research and development. Many large corporations, including Apple and Microsoft, have outposts in Reno.
Median Household Income: $80,365
Median Age: 37.6
College Educated: 36.9%
Homeowners: 52%
Married: 41%
Popular Reno Neighborhoods
Whether you want all the city vibes or you’re looking to feel more connected with nature, there is probably a neighborhood in Reno that can suit your needs.
Keep reading for handy fast facts about five popular Reno neighborhoods, including average home prices, demographics, and quality of life.
Recommended: Home Ownership Resources
Downtown
There is plenty of hustle and bustle in Downtown Reno, thanks to being within walking distance of the University District. Think: dining, nightlife, shops, the works.
Whether residents are looking for a condo, apartment, or house, Downtown has every type of housing option available.
Quick Facts
Population:
8,469
Median Age:
41.6
Housing Units:
5,011
Bike Score:
80/100
Walk Score:
87/100
Transit Score:
61/100
Median Household Income:
$82,338
Downtown Housing Market
The housing market in Downtown Reno is not very competitive, according to Redfin. On average, homes sit for 140 days on the market before selling, generally for around 5% below list price. Multiple offers are rare. However, Downtown Reno prices have been on the rise. In February 2025, the median home sale price was $375,000, up nearly 27% from the prior year.
Median Sale Price
$375,000
Median Price Per Square Ft.
$292
Hidden Valley
Situated along Reno’s hilly outskirts, Hidden Valley is known for its serene and secluded atmosphere. This neighborhood offers residents a peaceful retreat with large lots and well-landscaped homes, along with close proximity to outdoor recreational areas, including trails and parks. Despite its tranquil setting, Hidden Valley is conveniently close to downtown Reno, providing easy access to urban amenities and entertainment.
Quick Facts
Population:
46,412
Median Age:
35.5
Housing Units:
20,445
Bike Score:
10/100
Walk Score:
3/100
Transit Score:
0/100
Median Household Income:
$62,197
Hidden Valley Housing Market
The housing market in Hidden Valley is considered somewhat competitive, since some homes get multiple offers. Home prices are higher than the average for Reno, and have risen slightly over the last year. In February 2025, the median home sale price was $850,000, up nearly 9% year-over-year. The average Hidden Valley home sits on the market for 72 days before selling, giving buyers plenty of time to consider their options, and sells for about 2% below asking price.
Median Sale Price
$850,000
Median Price Per Square Ft.
$320
Double Diamond
Double Diamond is a laid-back and family-friendly neighborhood in south Reno. This master-planned community offers a variety of housing options, from apartments to spacious single-family houses. Residents enjoy access to top-rated schools, parks, and community amenities, including sports fields and walking trails. The area’s proximity to both the Sierra Nevada mountains and downtown Reno makes it an ideal choice for those seeking easy access to nature without being too far off the beaten path.
Quick Facts
Population:
38,484
Median Age:
40.5
Housing Units:
15,988
Bike Score:
53/100
Walk Score:
19/100
Transit Score:
15/100
MEdian Household Income:
$137,873
Double Diamond Housing Market
The Double Diamond can be competitive (particularly for in-demand homes), but overall, prices have been moderating. In February 2025, home prices in this Reno neighborhood were down nearly 7% compared to the prior year, selling for a median price of $573,000. What’s more, the average home sits on the market for 56 days before selling, compared to 38 days in 2024, and sells for about 2% below list price.
Median Sale Price
$573,000
Median Price Per Square Ft.
$353
Northwest
Northwest Reno is a scenic and affluent area known for its large, well-maintained homes and beautiful landscapes. Surrounded by the Sierra Nevada mountains, this neighborhood offers residents stunning views and a peaceful, suburban lifestyle. It’s also highly regarded for its excellent schools and safe, family-friendly environment. Despite its tranquil setting, Northwest Reno is just six miles west of downtown, providing easy access to urban and cultural attractions.
Quick Facts
Population:
23,998
Median Age:
33.4
Housing Units:
10,555
Bike Score:
45/100
Walk Score:
62/100
Transit Score:
26/100
Median Household Income:
$65,001
Northwest Housing Market
The housing market in Northwest Reno is considered somewhat competitive, according to Redfin. In-demand homes tend to get multiple offers, stay on the market for 26 days, and get list price. The average Northwest Reno listing, however, lingers for around 55 days before selling for about 1% below list price. Overall, prices in Northwest Reno have remained stable. In February 2025, the median home sale price was $574,000, which was 2% lower than the year before.
Median Sale Price
$574,000
Median Price Per Square Ft.
$336
Somersett
Golf fans will find plenty of ways to pass the time in Somersett, as this neighborhood is home to the nine-hole Tom Kite-designed Canyon Nine Golf Course.
Non-golfers can enjoy more than 27 miles of walking and biking trails, with more rugged and invigorating hikes in close proximity. What’s more, Lake Tahoe is only a 45-minute drive away, while Downtown Reno and all its urban amenities is a mere 15 minutes away. Somersett offers a mix of housing options, including single family homes and townhouses.
Quick Facts
Population:
36,538
Median Age:
40.6
Housing Units:
16,291
Bike Score:
10/100
Walk Score:
4/100
Transit Score:
N/A
Median Household Income:
$124,890
Somersett Housing Market
The housing market in Somersett is somewhat competitive, since some homes get multiple offers. In February 2024, the median sale price of a Somersett home was $817,000, a roughly 14% jump over the prior year. While in-demand homes sell for around list price and only sit on the market for about a month before getting scooped up, the average Somersett home stays on the market for around 73 days before selling, typically for 1% below asking price.
Median Sale Price
$817,000
Median Price Per Square Ft.
$388
SoFi Home Loans
It’s easy to see why Reno has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from, whether you’re young and single or have a family to look after.
If you think Reno could be your home sweet home, then you may need to consider your mortgage financing options.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
FAQ
Are home prices dropping in Reno?
As of February 2025, Reno’s housing market experienced a slight increase in home prices. Though there have been minor drops in certain areas, overall home prices were up 9% compared to last year, selling for a median price of $543,000, according to Redfin. This indicates that home prices are not dropping but have generally seen modest appreciation.
Is it a good time to buy a house in Reno, Nevada?
Yes, it can be a good time to buy a house in Reno, especially if you’re prepared to act quickly. The market is considered somewhat competitive, but with careful planning and a solid budget, you can find a great home. Interest rates and inventory levels are key factors to watch.
Is Reno overpriced?
Reno’s housing market is considered expensive compared to the national average. However, the high cost is often justified by the area’s strong job market, excellent schools, and proximity to natural attractions. Whether it’s overpriced depends on your budget and priorities, but many find the value proposition to be compelling.
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