Quarterly review
Reno apartment market, Q3 2025
Conventional Reno apartments ended Q3 2025 at 90.7% occupancy, +4.5% for the quarter, with an average effective rent of $1,715 (+1.0%).
27% of properties were offering concessions, with an average package worth 6.1% of rent.
1,975 units were absorbed during the quarter while 223 new units joined the market.
Compared with Q2 2025, effective rent moved up $19 per month.
Occupancy
90.7%
+4.5% quarter over quarter
Effective rent
$1,715
+1.0% quarter over quarter
Offering concessions
27%
+6.1% quarter over quarter
Units absorbed
1,975
this quarter quarter over quarter
Submarkets
Movers in Q3 2025
Downtown Reno
76.5%
occupancy +12.3%
$1,347
effective rent -1.4%
Sparks
91.3%
occupancy +6.5%
$1,747
effective rent +1.3%
North Valleys
81.5%
occupancy +6.3%
$1,787
effective rent +2.6%
West Reno
92.4%
occupancy +5.9%
$1,786
effective rent +0.4%
Central Reno/Airport
92.5%
occupancy +2.6%
$1,779
effective rent +1.7%
Carson City
95.4%
occupancy -1.0%
$1,535
effective rent +0.8%
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 | 363 | 45,630 | 90.7% | $1,715 | 26.5% |
| Affordable | 89 | 10,108 | 84.2% | $1,236 | 15.0% |
| Senior Living | 59 | 4,748 | 88.4% | $2,267 | 4.5% |
| Student Housing | 16 | 2,412 | 94.4% | $2,167 | 0.0% |
Source: ALN Apartment Data, Reno quarterly review. Analysis by Next Level Property Management.
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