Quarterly review
Reno apartment market, Q2 2025
Conventional Reno apartments ended Q2 2025 at 87.7% occupancy, +1.1% for the quarter, with an average effective rent of $1,696 (+3.1%).
25% of properties were offering concessions, with an average package worth 6.5% of rent.
905 units were absorbed during the quarter while 562 new units joined the market.
Compared with Q1 2025, effective rent moved up $50 per month.
Occupancy
87.7%
+1.1% quarter over quarter
Effective rent
$1,696
+3.1% quarter over quarter
Offering concessions
25%
-15.2% quarter over quarter
Units absorbed
905
this quarter quarter over quarter
Submarkets
Movers in Q2 2025
West Reno
87.3%
occupancy +4.3%
$1,778
effective rent +3.7%
Sparks
85.8%
occupancy +2.0%
$1,725
effective rent +3.3%
Downtown Reno
68.2%
occupancy +1.6%
$1,366
effective rent +3.3%
Carson City
96.4%
occupancy +1.5%
$1,523
effective rent +2.4%
Central Reno/Airport
92.6%
occupancy +0.2%
$1,744
effective rent +2.6%
North Valleys
76.6%
occupancy -15.6%
$1,741
effective rent +3.8%
Douglas County
n/a
occupancy
$1,077
effective rent 0.0%
By property type
The full market
| Type | Properties | Units | Occupancy | Effective rent | Offering concessions |
|---|---|---|---|---|---|
| Conventional | 355 | 44,725 | 87.7% | $1,696 | 25.1% |
| Affordable | 88 | 9,963 | 78.6% | $1,216 | 17.9% |
| Senior Living | 58 | 4,525 | 85.6% | $2,274 | 9.5% |
| Student Housing | 16 | 2,412 | 93.3% | $2,151 | 10.0% |
Source: ALN Apartment Data, Reno quarterly review. Analysis by Next Level Property Management.
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