New data from the Nevada State Apartment Association shows Reno continuing to outperform national rent trends, even as Nevada’s multifamily housing market moves into a period of stabilization.
According to fourth quarter 2025 figures, Reno’s average asking rent climbed to $1,727, marking a 5.8% increase year over year and remaining just below the national average of $1,767. The growth highlights sustained demand in northern Nevada, even as new units come online.
Occupancy in Reno also strengthened significantly, rising to 91.2%, up from 87.8% this time last year and well above the national average of 89%. Stabilized properties performed particularly well, posting an average occupancy rate of 95.5%, signaling a tightening market for renters…