89508, Reno, NV

Reno, Nevada is a city located in Washoe County, Nevada. According to the 2010 census, the population of Reno was 229,928. The zip code for Reno is 89508. Home equity and home prices in the 89508 zip code of Reno have been on the rise for many years now. In fact, according to Zillow's 2016 National Home Value Survey report, the median home value in this zip code was $269,000 as of September 2016. This is a 9% increase from 2015 when the median home value was $257,500.

There are many factors that contribute to rising home values in a given area such as increasing demand from buyers and sellers alike, decreasing supply of homes available for purchase or rent due to zoning regulations or construction delays, and overall economic conditions. In general though, increased demand has been largely responsible for driving up home values across most markets nationwide over the past several years.

In terms of trends specifically within the 89508 zip code of Reno however, there seems to be an especially strong appreciation trend occurring at present. According to Zillow's National Home Value Survey report referenced earlier (which covers data through September 2016), median home values in this area have increased by 9% since 2015 - which is significantly higher than both statewide (NV) and national (US) trends during that same time period (which saw median home values increase by 3% and 5%, respectively). This suggests that there may be some limited availability of homes for sale or rent within this zip code at present - which could lead potential buyers/tenants towards pricier options if they're looking to enter into this market sooner rather than later.