Downtown Reno, Reno, NV—89501
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Reno, Reno, NV
As of Oct '25, the median home price in Downtown Reno, Reno, NV is $418,000, with a year-over-year change of -3.4%. This indicates that home prices in Downtown Reno, Reno, NV are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $418,000 | -3.4% |
| Single Family | $619,000 | -1.7% |
| Condos | $326,000 | -6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $301,000 | -5.0% |
2 Bed | $472,000 | -4.8% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown Reno, Reno, NV
As of July '25, Rentcast reports the average rent in Downtown Reno, Reno, NV is $1,470, with a year-over-year rent change of -12.0%. Per bedroom, the median rent as of July '25 in Downtown Reno, Reno, NV is studios: $1,070, 1-bedrooms: $1,500, 2-bedrooms: $2,160, 3-bedrooms: $2,800, 4-bedrooms: $689. The most common rental property sizes in Downtown Reno, Reno, NV are studio and 1-bedroom, accounting for 48.6% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,470 |
| Studio Rent | $1,020 | $1,070 |
| 1 Bed Rent | $1,500 | $1,500 |
| 2 Bed Rent | $1,750 | $2,160 |
| 3 Bed Rent | $2,800 | $2,800 |
| 4 Bed Rent | $689 | $689 |
% of Rental Stock
Property Listings — Downtown Reno, Reno, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Reno, Reno, NV is 105. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $442,000 | -1.0% |
Listing Count | 52 | 22.0% |
| Listings as % of Homes | 1.0% | 22.0% |
Days on Market | 105 | 0.0% |
Demographics — Downtown Reno, Reno, NV
As of the latest ACS Survey released in 2023, Downtown Reno, Reno, NV has a population of 3,640, which has decreased by -10.2% over the past 5 years. Downtown Reno, Reno, NV is a less popular place for families, as children make up 0.3% of the population. The area has a moderately educated workforce, with 40.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,640 | -10.2% |
% Under 18 | 0.3% | -94.3% |
% Seniors | 28.3% | 31.6% |
% WFH | 16.6% | 260.9% |
% w/ College Degree | 40.2% | 24.5% |
As of the latest ACS Survey released in 2023, Downtown Reno, Reno, NV is a predominantly white area, with 71.8% of the population identifying as white. The white population has grown by 5.9% in the last 5 years. The second most common race or ethnicity in Downtown Reno, Reno, NV is hispanic, making up 11.0% of the population. Foreign-born residents account for 7.3% of the population in Downtown Reno, Reno, NV, and this percentage has decreased by 37.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.8% | 5.9% |
% Black | 8.2% | 32.3% |
% Hispanic | 11.0% | 3.8% |
% Asian | 4.3% | 13.2% |
% Foreign Born | 7.3% | -37.6% |
Mortgage and Risk — Downtown Reno, Reno, NV
According to HUD data as of 2023, there were 27 mortgage originations in Downtown Reno, Reno, NV, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Downtown Reno, Reno, NV. Investor activity is low, as 4.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 27 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 4.0% |
% Second Loans | 15.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Downtown Reno, Reno, NV
As of 2024, the percent of homes in Downtown Reno, Reno, NV under the Section 8 program is 7.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Downtown Reno, Reno, NV, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 132 |
Total Units Section 8 | 132 |
% Rentals under Section 8 | 7.7% |
% Occupied Section 8 | 80.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$360 | $1,500 | $1,140 |
| 2 Bedroom | -$320 | $1,750 | $1,430 |
| 3 Bedroom | -$790 | $2,800 | $2,010 |
| 4 Bedroom | $1,721 | $689 | $2,410 |
Affordability — Downtown Reno, Reno, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 14.1 |
| Median Home Price | $418,000 |
| Median Household Income | $33,000 |