With large companies like Tesla and Panasonic making their way to Reno, plus the added benefit of no state income tax, the area’s real estate market has been booming. In fact, according to this article from the Reno Gazette Journal, it’s set to be one of the 15 hottest markets for the next decade.
This sounds like great news for the area, but there is also a downside. Many are worried that due to rising median home prices and incomes that have failed to keep pace, the area could begin to see affordability issues similar to many areas in California.
According to the article from RGJ, “The city of Reno recently launched a program called “1,000 Homes in 120 Days” to help spur construction of more dense “missing middle” housing such as townhomes and condominiums by delaying development fees.” Only time will tell if the housing supply will be able to keep up with the demand.