Lemmon Valley, Reno, NV—89506
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lemmon Valley, Reno, NV
As of Oct '25, the median home price in Lemmon Valley, Reno, NV is $448,000, with a year-over-year change of -0.2%. This indicates that home prices in Lemmon Valley, Reno, NV are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $448,000 | -0.2% |
| Single Family | $449,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $311,000 | -3.1% |
3 Bed | $434,000 | -0.5% |
4 Bed | $495,000 | -0.8% |
| 5 Bed | $579,000 | -1.2% |
% of Housing Stock
Rental Trends — Lemmon Valley, Reno, NV
As of July '25, Rentcast reports the average rent in Lemmon Valley, Reno, NV is $2,340, with a year-over-year rent change of 1.7%. Per bedroom, the median rent as of July '25 in Lemmon Valley, Reno, NV is 1-bedrooms: $1,240, 2-bedrooms: $1,760, 3-bedrooms: $2,320, 4-bedrooms: $2,730. The most common rental property sizes in Lemmon Valley, Reno, NV are 3-bedroom and 2-bedroom, accounting for 43.6% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,320 | $2,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,320 | $1,240 |
| 2 Bed Rent | $1,800 | $1,760 |
| 3 Bed Rent | $2,300 | $2,320 |
| 4 Bed Rent | $2,650 | $2,730 |
% of Rental Stock
Property Listings — Lemmon Valley, Reno, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Lemmon Valley, Reno, NV is 59. This is a increase of 4.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $475,000 | 3.0% |
Listing Count | 168 | -5.0% |
| Listings as % of Homes | 0.8% | -5.0% |
Days on Market | 59 | 4.0% |
Demographics — Lemmon Valley, Reno, NV
As of the latest ACS Survey released in 2023, Lemmon Valley, Reno, NV has a population of 45,300, which has increased by 7.8% over the past 5 years. Lemmon Valley, Reno, NV is a moderately popular place for families, as children make up 24.6% of the population. The area has a poorly educated workforce, with 20.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,300 | 7.8% |
% Under 18 | 24.6% | -0.8% |
% Seniors | 13.6% | 38.8% |
% WFH | 7.5% | 188.5% |
% w/ College Degree | 20.5% | 19.9% |
As of the latest ACS Survey released in 2023, Lemmon Valley, Reno, NV is a predominantly white area, with 52.9% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Lemmon Valley, Reno, NV is hispanic, making up 30.8% of the population. Foreign-born residents account for 14.9% of the population in Lemmon Valley, Reno, NV, and this percentage has increased by 0.7% 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 | 52.9% | -6.5% |
% Black | 3.1% | -18.4% |
% Hispanic | 30.8% | 4.4% |
% Asian | 4.7% | -6.0% |
% Foreign Born | 14.9% | 0.7% |
Mortgage and Risk — Lemmon Valley, Reno, NV
According to HUD data as of 2023, there were 766 mortgage originations in Lemmon Valley, Reno, NV, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Lemmon Valley, Reno, NV. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 766 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lemmon Valley, Reno, NV
As of 2024, the percent of homes in Lemmon Valley, Reno, NV under the Section 8 program is 1.4%. 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. In Lemmon Valley, Reno, NV, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 239 |
Total Units Section 8 | 67 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,320 | $1,490 |
| 2 Bedroom | $70 | $1,800 | $1,870 |
| 3 Bedroom | $290 | $2,300 | $2,590 |
| 4 Bedroom | $380 | $2,650 | $3,030 |
Affordability — Lemmon Valley, Reno, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $448,000 |
| Median Household Income | $86,600 |