Fernley, NV—89408
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fernley, NV
As of Oct '25, the median home price in Fernley, NV is $388,000, with a year-over-year change of -1.1%. This indicates that home prices in Fernley, NV are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $388,000 | -1.1% |
| Single Family | $389,000 | -1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $305,000 | 0.0% |
3 Bed | $376,000 | -1.6% |
4 Bed | $433,000 | -0.9% |
| 5 Bed | $566,000 | 0.7% |
% of Housing Stock
Rental Trends — Fernley, NV
As of July '25, Rentcast reports the average rent in Fernley, NV is $2,060, with a year-over-year rent change of 13.8%. Per bedroom, the median rent as of July '25 in Fernley, NV is studios: $922, 1-bedrooms: $1,100, 2-bedrooms: $1,410, 3-bedrooms: $2,180, 4-bedrooms: $2,450. The most common rental property sizes in Fernley, NV are 2-bedroom and 3-bedroom, accounting for 43.3% and 39.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,060 |
| Studio Rent | $850 | $922 |
| 1 Bed Rent | $1,100 | $1,100 |
| 2 Bed Rent | $1,300 | $1,410 |
| 3 Bed Rent | $2,100 | $2,180 |
| 4 Bed Rent | $2,470 | $2,450 |
% of Rental Stock
Property Listings — Fernley, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Fernley, NV is 67. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $428,000 | 4.0% |
Listing Count | 127 | -13.0% |
| Listings as % of Homes | 1.7% | -13.0% |
Days on Market | 67 | -2.0% |
Demographics — Fernley, NV
As of the latest ACS Survey released in 2023, Fernley, NV has a population of 24,000, which has increased by 20.4% over the past 5 years. Fernley, NV is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 15.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | 20.4% |
% Under 18 | 24.7% | 3.3% |
% Seniors | 14.1% | -17.1% |
% WFH | 4.9% | 69.0% |
% w/ College Degree | 15.7% | 22.7% |
As of the latest ACS Survey released in 2023, Fernley, NV is a predominantly white area, with 69.3% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Fernley, NV is hispanic, making up 18.8% of the population. Foreign-born residents account for 6.5% of the population in Fernley, NV, and this percentage has increased by 20.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.3% | -6.1% |
% Black | 1.7% | 0.0% |
% Hispanic | 18.8% | 3.3% |
% Asian | 1.7% | 41.7% |
% Foreign Born | 6.5% | 20.4% |
Mortgage and Risk — Fernley, NV
According to HUD data as of 2023, there were 577 mortgage originations in Fernley, NV, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Fernley, NV. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 577 |
% Conventional Loans | 49.0% |
% Government Loans | 51.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Fernley, NV
Fernley, NV lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 82 |
Total Units Section 8 | 82 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 65.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,100 | $1,240 |
| 2 Bedroom | $150 | $1,300 | $1,450 |
| 3 Bedroom | -$70 | $2,100 | $2,030 |
| 4 Bedroom | -$40 | $2,470 | $2,430 |
Affordability — Fernley, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $388,000 |
| Median Household Income | $87,700 |