Cities with the most expensive homes in the Reno metro area
Cities with the most expensive homes in the Reno metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $355,696 in March, 4.6% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of May 2, the 30-year fixed mortgage rate sits at 7.22%.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Reno metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 5 cities and towns with data available were included in the list.
#5. Sun Valley, NV
- Typical home value: $411,395
- 1-year price change: +4.1%
- 5-year price change: +43.3%
#4. Sparks, NV
- Typical home value: $504,036
- 1-year price change: +3.1%
- 5-year price change: +41.1%
#3. Reno, NV
- Typical home value: $543,062
- 1-year price change: +3.4%
- 5-year price change: +41.4%
#2. Verdi, NV
- Typical home value: $746,693
- 1-year price change: +1.4%
- 5-year price change: +47.0%
#1. Incline Village, NV
- Typical home value: $1,393,826
- 1-year price change: -0.4%
- 5-year price change: +68.7%
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
