Real Estate Investing in Reno, Nevada (89502)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 89502 (Reno, NV)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Reno, NV (89502)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 89502 Reno
In practical terms, ZIP 89502 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $443K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $443K asset, 89502 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 89502's metrics run below Washoe County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 89502 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 89502 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Reno:
Property Strategy for 89502
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $203,412 | $1,290 | 4.6% | +4.4% | $203,412 |
| 2BR | $303,809 | $1,620 | 3.8% | +5.4% | $151,905 |
| 3BR | $453,324 | $2,200 | 3.5% | +6.0% | $151,108 |
| 4BR | $550,393 | $2,560 | 3.3% | +5.9% | $137,598 |
| 5BR | $844,357 | — | — | +6.7% | $168,871 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 89502 Compare?
| Metric | 89502 | Reno | Reno, NV | Nevada |
|---|---|---|---|---|
| Home Value | $443,188 | $280,888 | N/A | $444,019 |
| 5-Year CAGR | 2.8% | 2.5% | N/A | 6.8% |
| Avg Rent | $1,489 | $1,996 | N/A | - |
| Cap Rate | 2.6% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 89502 (Reno, NV). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 89502 (Reno, NV)?
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Property managers serving Washoe County
Manage rentals here? List your business →Incline Property Management has been working with homeowners in the Reno, Carson, and Lake Tahoe region since 1979, specializing in quality second home care, grounds maintenance, home cleaning, inspec summary from their website
PMI Reno provides residential and commercial property management services, including marketing, tenant screening, rent collection, and maintenance. summary from their website
Real Property Management Corazon offers property management services in Reno, NV. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $443,188 |
| Monthly Rent | $1,489 |
| Price-to-Rent | 24.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +2.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 89502
Population: 45,708
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 89502
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,549 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do rentals go for in Reno, NV?
Rental rates in Reno, NV average $1,489/mo. Tenant demand and $443K home values make the yield look reasonable by investor standards.
Are homes affordable in Reno, NV?
Reno, NV home values average about $443K. That price point suits investors targeting rentals with $1,489/mo in monthly income.
What kind of market is Reno, NV for investors?
Investors tracking Reno, NV will find a 3.0/5 rating supported by $443K median home values and $1,489/mo rents. That profile suits long-term holders targeting even-keeled returns.
How quickly do rentals get leased in Reno, NV?
Vacancy risk in Reno, NV is elevated. That supports reliable cash flow for typical rental holds.
Does house hacking work in Reno, NV?
House hacking in Reno, NV is reasonable to execute. Prices around $443K and rents of $1,489/mo solid owner-occupant economics.
You know 89502 now. You don’t know where it ranks.
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How 89502 ranks in Reno, NV
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