Southwest Reno, Reno, NV—89509
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Southwest Reno, Reno, NV
As of Oct '25, the median home price in Southwest Reno, Reno, NV is $660,000, with a year-over-year change of 2.2%. This indicates that home prices in Southwest Reno, Reno, NV are increasing. 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 | $660,000 | 2.2% |
| Single Family | $677,000 | 1.7% |
| Condos | $316,000 | -2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $247,000 | -3.9% |
2 Bed | $463,000 | 3.1% |
3 Bed | $664,000 | 1.5% |
4 Bed | $828,000 | 1.2% |
| 5 Bed | $1,009,000 | 1.7% |
% of Housing Stock
Rental Trends — Southwest Reno, Reno, NV
As of July '25, Rentcast reports the average rent in Southwest Reno, Reno, NV is $1,940, with a year-over-year rent change of -9.8%. Per bedroom, the median rent as of July '25 in Southwest Reno, Reno, NV is studios: $1,060, 1-bedrooms: $1,320, 2-bedrooms: $1,970, 3-bedrooms: $3,060, 4-bedrooms: $4,330. The most common rental property sizes in Southwest Reno, Reno, NV are 2-bedroom and 1-bedroom, accounting for 44.1% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,940 |
| Studio Rent | $1,080 | $1,060 |
| 1 Bed Rent | $1,320 | $1,320 |
| 2 Bed Rent | $1,800 | $1,970 |
| 3 Bed Rent | $2,950 | $3,060 |
| 4 Bed Rent | $4,300 | $4,330 |
% of Rental Stock
Property Listings — Southwest Reno, Reno, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Southwest Reno, Reno, NV is 76. This is a increase of 26.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $731,000 | 3.0% |
Listing Count | 175 | 35.0% |
| Listings as % of Homes | 0.6% | 35.0% |
Days on Market | 76 | 26.0% |
Demographics — Southwest Reno, Reno, NV
As of the latest ACS Survey released in 2023, Southwest Reno, Reno, NV has a population of 35,900, which has increased by 2.6% over the past 5 years. Southwest Reno, Reno, NV is a moderately popular place for families, as children make up 17.7% of the population. The area has a highly educated workforce, with 49.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,900 | 2.6% |
% Under 18 | 17.7% | 6.0% |
% Seniors | 22.0% | 0.5% |
% WFH | 14.8% | 190.2% |
% w/ College Degree | 49.8% | 7.3% |
As of the latest ACS Survey released in 2023, Southwest Reno, Reno, NV is a predominantly white area, with 70.0% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Southwest Reno, Reno, NV is hispanic, making up 16.9% of the population. Foreign-born residents account for 12.0% of the population in Southwest Reno, Reno, NV, and this percentage has decreased by 1.6% 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 | 70.0% | -5.0% |
% Black | 1.5% | -21.1% |
% Hispanic | 16.9% | 9.0% |
% Asian | 4.4% | -8.3% |
% Foreign Born | 12.0% | -1.6% |
Mortgage and Risk — Southwest Reno, Reno, NV
According to HUD data as of 2023, there were 465 mortgage originations in Southwest Reno, Reno, NV, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Southwest Reno, Reno, NV. Investor activity is low, as 3.0% 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 | 465 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Southwest Reno, Reno, NV
As of 2024, the percent of homes in Southwest Reno, Reno, NV under the Section 8 program is 4.3%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Southwest Reno, Reno, NV, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 329 |
Total Units Section 8 | 329 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 83.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,320 | $1,340 |
| 2 Bedroom | -$120 | $1,800 | $1,680 |
| 3 Bedroom | -$620 | $2,950 | $2,330 |
| 4 Bedroom | -$1,580 | $4,300 | $2,720 |
Affordability — Southwest Reno, Reno, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.5 |
| Median Home Price | $660,000 |
| Median Household Income | $81,800 |