Reno. A very stable multifamily market.
Reno continues to have more demand than supply for not only apartments but residential properties. This is driven by Reno’s proximity to northern California, which has some of the wealthiest areas in the world. In addition, Reno is an attractive place to live because it is located near Lake Tahoe and other recreational activities in the Sierras. Combining these elements creates a very stable residential area where prices are higher than most of the country, which surprises most investors.
Reno Is The Closest City To The Most Populated State
Often overlooked, Reno’s proximity to the most populated state and wealthiest regions in the world has created a very desirable market for investors. Reno’s lack of inventory and increased migration will only continue. We see this as a very stable market for investors with high returns.
Reno’s New Diverse Economy
Reno no longer relies on tourism and gaming. In addition, it has a growing portfolio of industrial, manufacturing, and Big Tech companies. Having an abundance of jobs and migration creates a vibrant job market and increased rents, which is great and profitable for investors.
Costs and Land Limits The Supply
Construction costs and labor shortages create a unique challenge for Reno to build new inventory year to year. Reno also has a limited supply of developmental land due to topography. Reno investors will see their property values increase when these elements combine with location and a vibrant economy.