Three times in as many days I’ve been asked about the rental market in Reno, so it was very timely that the RGJ reported on the most recent Johnson-Perkins Apartment Survey results; see Reno-Sparks apartment vacancies stabilize in third quarter.
According to the report, Reno-Sparks apartment vacancy rates fell to 9.08% in the third quarter (down from 10.93% for Q2), the first such decrease since mid-2008.
Additionally, rent rates improved for the same period from $844 (Q2) to $857 (Q3), according to the report.
|West Sparks/North Valleys||8.53%||$749|
Source: Johnson-Perkins Apartment Survey