Metro area index
Home appreciation in the Reno, NV metro area
FHFA HPI® data shows the Reno, NV metro area's all-transactions index changed +3.8% over the year to Q2 2026, versus +2.5% for Nevada and +3.0% for the U.S. That ranks 172nd of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.8%
- 5-year change
- +30.3%
- Since Q1 1995
- +314%
- Metro rank (1 year)
- 172nd
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Reno, NV vs Nevada and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Reno, NV: 413.5
- Nevada: 384.9
- United States: 391.6
Appreciation by time window
| Window | Metro | NV | U.S. | Gap vs NV | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.8% | +2.5% | +3.0% | +1.3 pts | +0.7 pts |
| 3 years | +12.1% | +12.3% | +12.9% | −0.2 pts | −0.7 pts |
| 5 years | +30.3% | +35.4% | +41.3% | −5.0 pts | −10.9 pts |
| 10 years | +108% | +114% | +93.3% | −6.0 pts | +14.4 pts |
| Since Q1 1995 | +314% | +285% | +292% | +28.6 pts | +21.9 pts |
3-digit ZIP regions in the Reno, NV area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 895 · Reno, NV area | NV | +3.4% | +31.3% | +322% | 100% |
| 894 · Sparks, NV area | NV | +4.8% | +31.0% | +296% | 67% |
Boom, bust, and recovery in Reno, NV area
Reno, NV area's index peaked in Q1 2006, fell 55.1% to its low in Q2 2012, and regained its peak in Q4 2018, about 12.8 years after the top. Today it sits +63.4% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2006 | Q2 2012 | -55.1% | Q4 2018 (12.8 yrs) | +63.4% |
| NV | Q3 2006 | Q2 2012 | -55.7% | Q2 2020 (13.8 yrs) | +55.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Reno, NV area's index has changed +86.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | NV after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.1% | -1.4% | -0.8% |
| 3 years | +9.8% | +2.1% | +2.3% | +2.8% |
| 5 years | +24.0% | +5.1% | +9.1% | +13.9% |
| 10 years | +39.1% | +49.3% | +53.7% | +39.0% |
| Since Q1 1995 | +121% | +86.8% | +73.8% | +76.8% |
If you bought in the Reno, NV area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +303% | $1,208,829 |
| Q2 2000 | +254% | $1,062,345 |
| Q2 2005 | +78.8% | $536,340 |
| Q2 2010 | +217% | $949,774 |
| Q2 2015 | +133% | $698,519 |
| Q2 2020 | +52.8% | $458,307 |
| Q2 2021 | +30.3% | $391,029 |
| Q2 2023 | +12.1% | $336,407 |
| Q2 2025 | +3.8% | $311,269 |
Frequently asked questions
- How much have home prices risen in the Reno, NV area?
- FHFA HPI® data for the Reno, NV metro area shows changes of +3.8% over one year, +30.3% over five years, and +108% over ten years to Q2 2026, and +314% since Q1 1995.
- Is the Reno, NV area beating the national average?
- Over the past year the metro's index moved +0.7 pts versus the U.S.; over five years the gap is −10.9 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.