Reno, NV Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Reno, NV, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes and condominiums. The HPI value for a particular geographic area is the weighted sum of the indices for all counties in that area.

As of September 2020, the Reno HPI was 276.4, up 7.1% from a year earlier. This increase was driven by strong home equity and healthy home prices in the Reno area.

Home equity is the portion of a property's value that is owned by the homeowner, rather than by a lender. Homeowners with high levels of home equity are more likely to weather economic downturns and maintain their homes' values during periods of market stress.

In Reno, the median home value was $372,500 in September 2020, up 7.2% from a year earlier. This increase was driven by strong demand for housing in the Reno area and limited supply of available homes for sale. The combination of these factors has resulted in healthy home prices in Reno.