Reno’s multifamily housing market showed continued strength through the third quarter of 2025, with rents and occupancy rising alongside new construction, according to the Nevada State Apartment Association.

The city’s average asking rent reached $1,728, a 6.1% increase from last year, while the national average shows $1,785.00.

While occupancy climbed to 90.5%, up from 87.8%, the national average stands at 89%.

Builders remain active, with 1,205 apartments under construction, most in downtown Reno, the North Valleys, and Sparks, followed by central Reno near the airport.

The association said steady rent growth and strong occupancy reflect ongoing economic expansion in northern Nevada, where new industries and businesses continue to boost housing demand across income levels.

Statewide

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