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 $349,216 in February, 4.2% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of March 28, the 30-year fixed mortgage rate sits at 6.79%.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: $404,705
- 1-year price change: +3.2%
- 5-year price change: +43.6%
#4. Sparks, NV
- Typical home value: $497,747
- 1-year price change: +2.0%
- 5-year price change: +41.1%
#3. Reno, NV
- Typical home value: $534,304
- 1-year price change: +2.2%
- 5-year price change: +41.3%
#2. Verdi, NV
- Typical home value: $742,395
- 1-year price change: +0.4%
- 5-year price change: +47.5%
#1. Incline Village, NV
- Typical home value: $1,355,179
- 1-year price change: -2.4%
- 5-year price change: +68.9%
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
