There are currently 94,057 real estate properties in Reno, NV, with a median automated valuation model (AVM) price of $481,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Reno, NV, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Reno, NV, is $547,940.00, with the most expensive house in Reno, NV, topping out at $17,490,000.00 and the cheapest home in Reno, NV, clocking in at $49,500.00. In other words, there’s something for every potential homebuyer or savvy investor in Reno, NV!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Reno, NV, is on a rollercoaster ride. The average rent price in Reno, NV, is $1,776.00. Indeed, when looking to rent in Reno, NV, you can expect to pay as little as $550.00 or as much as $5,260.00, with the average rent median estimated to be $1,690.00. The good news is that finding an affordable and desirable property to rent in Reno, NV -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Reno, NV area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Reno, NV and much more. Save thousands at closing with home foreclosure listings in Reno, NV — up to 75% off market value!
Reno is located in Washoe, Nevada, with an estimated municipal population of 255,601 residents. All of the best foreclosed homes for sale in Reno are located in the following zip code areas on Foreclosure.com: 89521 89523 89439 89503 89502 89501 89506 89509 89508 89519 89512 89505 89507 89533 89555 89557 89595 89599. The estimated population per square kilometer (.62 miles) in Reno is 907.
So, about how much do homes cost in Reno? The most recent median value of resident-owned homes in Reno is 332,902. An estimated 48 percent of households in Reno own their homes, with an average family size of 3.03. The median household income in Reno is 58,790, with26 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Reno, the median commute time of resident workers (in minutes) is 20.3. And last, but certainly not least, are you looking for homes to rent in Reno? If so, the average rent price paid by renters in Reno is 1,029, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Reno, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Reno is 35.8, split between 50.5 percent male versus 49.5 female. The percentage of residents who report being married in Reno is 42.5, with an average family size of 3.03.
The percentage of residents who report their race in Reno is as follows:
|Black / African American||2.8%|
|American Indian / Alaskan Native||1%|
|Native Hawaiian / Other Pacifc Islander||0.8%|
Looking for family-friendly neighborhoods in and/or near Reno? Or maybe you are searching for 55+ active adult communities in and/or near Reno?
The percentage of residents who report their age in Reno is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Reno with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Reno.
How do you know that living in -- or moving to -- Reno is right where you need to be? Perhaps you grew up in Reno or already live nearby; therefore, the decision to buy a home in Reno is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Reno for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Reno:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Reno.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Reno can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Reno, meanwhile, can field multiple offers from more qualified buyers.