Sparks, NV—89431
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sparks, NV
As of Oct '25, the median home price in Sparks, NV is $389,000, with a year-over-year change of -0.3%. This indicates that home prices in Sparks, NV are flat. 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 | $389,000 | -0.3% |
| Single Family | $394,000 | -0.5% |
| Condos | $241,000 | -2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $256,000 | 2.8% |
2 Bed | $311,000 | -1.0% |
3 Bed | $397,000 | -0.5% |
4 Bed | $449,000 | -0.2% |
| 5 Bed | $493,000 | 0.4% |
% of Housing Stock
Rental Trends — Sparks, NV
As of July '25, Rentcast reports the average rent in Sparks, NV is $1,660, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Sparks, NV is studios: $1,230, 1-bedrooms: $1,200, 2-bedrooms: $1,580, 3-bedrooms: $2,160, 4-bedrooms: $3,220. The most common rental property sizes in Sparks, NV are 2-bedroom and 1-bedroom, accounting for 38.1% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,660 |
| Studio Rent | $1,150 | $1,230 |
| 1 Bed Rent | $1,250 | $1,200 |
| 2 Bed Rent | $1,600 | $1,580 |
| 3 Bed Rent | $2,180 | $2,160 |
| 4 Bed Rent | $3,000 | $3,220 |
% of Rental Stock
Property Listings — Sparks, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Sparks, NV is 71. This is a increase of 22.0% 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 | $407,000 | 7.0% |
Listing Count | 84 | -3.0% |
| Listings as % of Homes | 0.4% | -3.0% |
Days on Market | 71 | 22.0% |
Demographics — Sparks, NV
As of the latest ACS Survey released in 2023, Sparks, NV has a population of 40,800, which has increased by 5.6% over the past 5 years. Sparks, NV is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,800 | 5.6% |
% Under 18 | 23.0% | -6.5% |
% Seniors | 13.1% | 1.6% |
% WFH | 7.2% | 928.6% |
% w/ College Degree | 14.3% | 17.2% |
As of the latest ACS Survey released in 2023, Sparks, NV is a predominantly hispanic area, with 48.7% of the population identifying as hispanic. The hispanic population has grown by 9.2% in the last 5 years. The second most common race or ethnicity in Sparks, NV is white, making up 38.1% of the population. Foreign-born residents account for 22.3% of the population in Sparks, NV, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 38.1% | -12.0% |
% Black | 3.1% | 24.0% |
% Hispanic | 48.7% | 9.2% |
% Asian | 5.2% | 18.2% |
% Foreign Born | 22.3% | 0.0% |
Mortgage and Risk — Sparks, NV
According to HUD data as of 2023, there were 395 mortgage originations in Sparks, NV, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Sparks, NV. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 395 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Sparks, NV
As of 2024, the percent of homes in Sparks, NV under the Section 8 program is 5.4%. 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 Sparks, NV, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 493 |
Total Units Section 8 | 459 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$110 | $1,250 | $1,140 |
| 2 Bedroom | -$170 | $1,600 | $1,430 |
| 3 Bedroom | -$170 | $2,180 | $2,010 |
| 4 Bedroom | -$590 | $3,000 | $2,410 |
Affordability — Sparks, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $389,000 |
| Median Household Income | $64,500 |