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  5. /Southwest Reno, Reno, NV - 89509

Southwest Reno, Reno, NV—89509

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$691,000
0.8% YoY Growth
Household Income
$81,800
41.4% YoY Growth
Days on Market
48
10.0% Longer YoY
Home Price Forecast
0.0%
Median Rent
$1,600
9.8% YoY Growth
1-Bed Rent
$1,320
3.9% YoY Growth
2-Bed Rent
$1,800
10.7% YoY Growth
3-Bed Rent
$2,950
1.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Southwest Reno, Reno, NV

As of May '26, the median home price in Southwest Reno, Reno, NV is $691,000, with a year-over-year change of 0.8%. This indicates that home prices in Southwest Reno, Reno, NV are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$691,0000.8%
Single Family $710,0001.3%
Condos $314,000-3.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $228,000
    -11.3%
    2 Bed
    		$478,0000.6%
    3 Bed
    		$693,0001.3%
    4 Bed
    		$870,0001.2%
    5 Bed $1,064,3981.0%
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    % of Housing Stock

    Studio
    5.6%
    1 Bedroom
    16.1%
    2 Bedrooms
    29.6%
    3 Bedrooms
    27.1%
    4 Bedrooms
    16.0%
    5+ Bedrooms
    5.6%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    10.6%
    1 Bedroom
    30.4%
    2 Bedrooms
    44.1%
    3 Bedrooms
    10.2%
    4 Bedrooms
    3.7%
    5+ Bedrooms
    1.0%

    Property Listings — Southwest Reno, Reno, NV

    As of May '26, Realtor.com reports that the median days on market for a home in Southwest Reno, Reno, NV is 48. This is a increase of 10.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$739,00015.0%
    Listing Count
    		143-6.0%
    Listings as % of Homes0.6%-6.0%
    Days on Market
    		4810.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		35,9002.6%
    % Under 18
    		17.7%6.0%
    % Seniors
    		22.0%0.5%
    % WFH
    		14.8%190.2%
    % w/ College Degree
    		49.8%7.3%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio7.7
    Median Home Price$691,000
    Median Household Income$81,800

    Southwest Reno, Reno, NV — ZIP Code Boundary Map

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    Frequently Asked Questions