Quarterly review
Reno apartment market, Q3 2026
In the Reno apartment market, Q3 2026 closed with conventional apartments at 94.1% occupancy, -0.4% for the quarter, and an average effective rent of $1,800 (+2.6%).
16% of properties were offering concessions, with an average package worth 6.3% of rent.
-193 units were absorbed during the quarter while 0 new units joined the market.
Compared with Q2 2026, effective rent moved up $44 per month.
Occupancy
94.1%
-0.4% quarter over quarter
Effective rent
$1,800
+2.6% quarter over quarter
Offering concessions
16%
-16.6% quarter over quarter
Units absorbed
-193
this quarter quarter over quarter
Submarkets
Movers in Q3 2026
Sparks
95.7%
occupancy -0.4%
$1,883
effective rent +1.9%
West Reno
96.1%
occupancy +0.1%
$1,903
effective rent +2.4%
Carson City
97.5%
occupancy +3.8%
$1,561
effective rent +4.4%
Downtown Reno
89.9%
occupancy -2.2%
$1,397
effective rent -0.1%
North Valleys
85.1%
occupancy -10.8%
$1,776
effective rent +0.5%
Douglas County
n/a
occupancy
$1,157
effective rent 0.0%
Central Reno/Airport
93.4%
occupancy +0.3%
$1,856
effective rent +3.9%
By property type
The full market
| Type | Properties | Units | Occupancy | Effective rent | Offering concessions |
|---|---|---|---|---|---|
| Conventional | 366 | 45,792 | 94.1% | $1,800 | 15.6% |
| Affordable | 95 | 10,793 | 91.4% | $1,329 | 14.3% |
| Senior Living | 60 | 5,005 | 96.8% | $2,210 | 13.0% |
| Student Housing | 16 | 2,412 | 95.3% | $2,279 | 10.0% |
Source: ALN Apartment Data, Reno quarterly review. Analysis by Next Level Property Management. Get the monthly Reno apartment market update
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