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 $360,385 in October, 2.4% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of November 14, the 30-year fixed mortgage rate sits at 6.78%.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: $416,591
- 1-year price change: +3.1%
- 5-year price change: +43.0%
#4. Sparks, NV
- Typical home value: $508,780
- 1-year price change: +3.5%
- 5-year price change: +42.4%
#3. Reno, NV
- Typical home value: $551,939
- 1-year price change: +3.8%
- 5-year price change: +43.4%
#2. Verdi, NV
- Typical home value: $772,609
- 1-year price change: +3.3%
- 5-year price change: +49.1%
#1. Incline Village, NV
- Typical home value: $1,434,699
- 1-year price change: +2.5%
- 5-year price change: +68.3%