Report: Rent Prices Soar In Reno
Finding apartments in Reno and Sparks is becoming very expensive.
Northern Nevada Business Weekly reports that apartment rental prices in that area have risen about 58 percent in six years, to an average of over $1,300 per month.
A key factor is an extremely low vacancy rate, which stood at 1.58 percent overall at the end of the second quarter, according to a report from Johnson Perkins Griffin.
There currently are more than 3,000 apartment units under construction in the region, with more than 6,000 additional apartment units planned.