Quarterly review
Reno apartment market, Q4 2025
Conventional Reno apartments ended Q4 2025 at 91.4% occupancy, -0.3% for the quarter, with an average effective rent of $1,713 (-0.1%).
23% of properties were offering concessions, with an average package worth 6.2% of rent.
-108 units were absorbed during the quarter while 0 new units joined the market.
Compared with Q3 2025, effective rent moved down $2 per month.
Occupancy
91.4%
-0.3% quarter over quarter
Effective rent
$1,713
-0.1% quarter over quarter
Offering concessions
23%
-13.5% quarter over quarter
Units absorbed
-108
this quarter quarter over quarter
Submarkets
Movers in Q4 2025
Downtown Reno
91.8%
occupancy +2.4%
$1,411
effective rent +4.7%
Central Reno/Airport
92.9%
occupancy +0.3%
$1,754
effective rent -1.5%
Sparks
91.3%
occupancy 0.0%
$1,761
effective rent +0.8%
Carson City
94.9%
occupancy -0.5%
$1,514
effective rent -1.3%
West Reno
90.8%
occupancy -1.8%
$1,800
effective rent +0.8%
Douglas County
n/a
occupancy
$1,077
effective rent 0.0%
North Valleys
76.3%
occupancy -6.3%
$1,739
effective rent -2.7%
By property type
The full market
| Type | Properties | Units | Occupancy | Effective rent | Offering concessions |
|---|---|---|---|---|---|
| Conventional | 363 | 45,635 | 91.4% | $1,713 | 23.0% |
| Affordable | 91 | 10,405 | 87.6% | $1,221 | 24.4% |
| Senior Living | 60 | 5,005 | 83.6% | $2,189 | 13.0% |
| Student Housing | 16 | 2,412 | 96.0% | $2,156 | 0.0% |
Source: ALN Apartment Data, Reno quarterly review. Analysis by Next Level Property Management.
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