Rent, population, and median household income are important factors to consider for a 1031 exchange in Reno due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Reno, Nevada is a part of the Reno, NV metropolitan area, and contains 24 zip codes, including: 89595, 89505, 89503, 89507, 89508, and 89506.
Reno Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Reno, NV metropolitan area was $1,447, which is 58.66% lower than 2014 average rent. This represents a compounded annual growth rate of 9.67%. 2019 vacancy in Reno, NV was 4.40%.
The total population of the city of Reno, NV has grown 11.45% since 2010. As of 2018, the population was 250,998. The median household income of the Reno was $54,916, which is 8.92% lower than the national average.
- metropolitan area Reno, NV
- avg rent $1,447
- rent growth 58.66%
- vacancy 4.40%
- median income $54,916
- population (2018) 250,998
- population growth 11.45%
- vs. nat'l avg 8.92%
- zip codes 89501 89502 89503 89504 89505 89506 89507 89508 89509 89510 89511 89512 89513 89515 89519 89520 89521 89523 89533 89555 89557 89570 89595 89599
