To the general public, Reno, Nevada, conjures up visions of casinos, nightlife, giant neon signs and vintage mid-century motels, as well as the beauty of nearby Lake Tahoe. In the multifamily investment world, the metro is drawing increased attention because of its limited incoming supply, steady population growth, business-friendly environment and diversified employment base, which combine to create a strong apartment market that can deliver attractive returns.
Reno, which calls itself “The Biggest Little City in the World,” may not be on investors’ radar as prominently as some larger metros. But for those looking for a fundamentally sound market that is well positioned to deliver across market cycles, the Western Nevada city is one to consider.
A Diverse Economy…