The rent in Reno just got a little bit higher.
According to Abodo’s national apartment report for December, Reno will close out the year by posting the fourth-highest rent increase in the nation.
Rents in The Biggest Little City jumped 6.5 percent from November for a median one-bedroom apartment. The average rent for a one-bedroom apartment in the Reno-Sparks area for the third quarter this year was $1,071.
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Apartment vacancy rates also fell below 3 percent, fueling the sharp increase in rent prices. Reno has seen significant economic activity with the influx of companies such as Tesla and other industrial factories.