Reno's Zillow ZHVI is $576,913 and its ZORI is $1,932 monthly. Annualizing ZORI against ZHVI gives a 4.0% gross yield before operating costs, vacancy, capital spending and financing. As a simple affordability screen, ZHVI is 7.1x ACS median household income, while annual ZORI is 28.7% of that income. These ratios frame entry price and top-line rent, not a buyer's borrowing capacity or a property's net return.
Reno has 123,756 housing units; 7.6% are vacant citywide, and renters occupy 50.2% of occupied units. These shares describe city tenure and survey vacancy, not whether a specific rental will lease quickly. ACS reports a $548,300 median home value and $1,556 median monthly gross rent for surveyed occupied housing. Its period and definitions differ from Zillow; ACS gross rent includes contract rent plus selected utilities, so the measures should not be averaged.
Among Reno renters, 52.6% meet the 30%-or-more rent-burden threshold. Single-family homes comprise 55.5% of city housing units; large multifamily buildings account for 15.4%. Of vacant units, 37.1% are classified for rent; this ACS share is survey context, not currently market-ready inventory. The population is 273,212, up 10.8% between overlapping ACS vintages; the change is not annualized and may reflect boundary changes. Median household income is $80,760, with poverty at 12.6% and unemployment at 5.1%; those rates are descriptive demand constraints, not causal evidence. These city facts cannot identify address-level availability, tenant quality or lease-up speed.
In Washoe County, Realtor data show a 46-day median listing period and price reductions on 17.2% of active listings; these county measures do not measure Reno city liquidity. The broader Reno metro reports 1.9% annual job growth and 2.8 months of housing supply; these metro indicators are context, not city outcomes. The national Freddie Mac 30-year mortgage rate is 6.58%, a national benchmark rather than a Reno borrower quote.
Citywide typical and survey measures leave an underwriting gap around any property's actual rent, condition, expenses and financing. Verify address-level rent and sale comparables, condition, occupancy and lease terms. Build property-specific cash flow with taxes, insurance, utilities, management, maintenance, vacancy, capital work and loan terms; gross yield is not profit. Check title, zoning, rental restrictions, permits, hazard exposure and an insurance quote before drawing a property conclusion.