The current Zillow snapshot puts Fernley’s typical home value (ZHVI) at $403,312 and typical observed monthly market rent (ZORI) at $1,891. Annualizing ZORI against ZHVI gives a 5.6% gross yield before vacancy, management, maintenance, taxes, insurance, capital work and financing. ZHVI was up 2.0% year over year, while ZORI was up 6.7%; that spread supports rechecking lease evidence rather than assuming it persists. ZHVI equals 4.5x ACS median household income, and annualized ZORI equals 25.3% of it, useful city affordability screens but not a borrower or tenant budget.
ACS describes 9,141 city housing units and a renter share of 28.0% among occupied units. Its $366,700 median home value is owner-reported for occupied owner housing, while its $1,570 median gross rent covers occupied rentals and includes selected utilities. Those ACS survey measures differ in definition and period from Zillow’s typical city value and observed market rent, so they should be read side by side, not averaged or treated as direct validation.
Direct city depth is mixed: 44.2% of renters were rent-burdened. Single-family units made up 78.4% of housing and large multifamily units 1.3%; among vacant units, 38.1% were classified for rent. These survey shares describe citywide stock and vacancy reasons, not available investment inventory or lease-up speed for a property. Population was 20.7% higher across the overlapping ACS vintages, a comparison that is not annualized and may reflect boundary changes. Median household income was $89,517, while poverty was 12.8% and unemployment 5.5%; the latter are descriptive demand constraints, not causes of rent performance.
At the county scope, Lyon County had 141 active listings, a 42-day median market time and an 11.2% price-reduced share, useful for resale-planning context but not city inventory measures. At the county scope, Lyon County’s FHFA home-price index rose 2.4% year over year and its effective property-tax rate was 0.46%; neither substitutes for Fernley appreciation or a parcel tax bill. At the national scope, the Freddie Mac 30-year mortgage rate was 6.66%, a financing benchmark rather than a Fernley borrowing quote.
Core limits: citywide typicals, ACS surveys, county indicators and the national financing rate do not reveal an asset’s achievable rent, condition or net cash flow. Before underwriting, verify address-level price, signed leases and concessions, rent comparables, utilities, occupancy history, repairs, insurance, parcel taxes, association charges, management and financing terms. Stress-test vacancy, capital needs and resale timing without treating citywide vacancy or county listings as guarantees.