Quarterly review
Reno apartment market, Q1 2026
Conventional Reno apartments ended Q1 2026 at 92.1% occupancy, +0.9% for the quarter, with an average effective rent of $1,732 (+1.2%).
24% of properties were offering concessions, with an average package worth 6.4% of rent.
421 units were absorbed during the quarter while 34 new units joined the market.
Compared with Q4 2025, effective rent moved up $19 per month.
Occupancy
92.1%
+0.9% quarter over quarter
Effective rent
$1,732
+1.2% quarter over quarter
Offering concessions
24%
+6.1% quarter over quarter
Units absorbed
421
this quarter quarter over quarter
Submarkets
Movers in Q1 2026
West Reno
93.1%
occupancy +2.8%
$1,813
effective rent +0.7%
Downtown Reno
93.8%
occupancy +2.5%
$1,415
effective rent +0.3%
North Valleys
77.2%
occupancy +2.0%
$1,747
effective rent +0.5%
Sparks
91.7%
occupancy +1.0%
$1,801
effective rent +2.3%
Carson City
95.4%
occupancy +0.4%
$1,512
effective rent +0.7%
Douglas County
n/a
occupancy
$1,157
effective rent +7.4%
Central Reno/Airport
92.6%
occupancy -0.4%
$1,773
effective rent +1.1%
By property type
The full market
| Type | Properties | Units | Occupancy | Effective rent | Offering concessions |
|---|---|---|---|---|---|
| Conventional | 366 | 45,799 | 92.1% | $1,732 | 24.2% |
| Affordable | 90 | 10,295 | 84.8% | $1,225 | 27.5% |
| Senior Living | 60 | 5,005 | 73.6% | $2,160 | 13.0% |
| Student Housing | 16 | 2,412 | 93.9% | $2,175 | 0.0% |
Source: ALN Apartment Data, Reno quarterly review. Analysis by Next Level Property Management.
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