Q3 2025 Reno Multifamily Report

Market Overview

‍The multifamily market in Reno is moving toward improved balance in Q3 2025, with average asking rent near $1,664 per unit and vacancy easing to about 7.8 percent. With only 131 units currently under construction and a considerable slowdown in new deliveries, the region appears ready for momentum to shift back in favour of landlords.

‍About Cushman & Wakefield

‍Cushman & Wakefield is a global commercial real-estate advisory firm providing research, valuation, leasing and capital-markets services. Their Q3 2025 Reno multifamily MarketBeat report aggregates metro-level data on rent trends, occupancy, supply/demand flows and pipeline conditions to help owners, developers and investors refine timing and strategic positioning. To read the full report, click here.