People are moving to Northern Nevada even though the housing market is tight and rentals are expensive. Home prices reached a new high and rents continue to increase. So where are the new residents moving from?
A new report from Apartment List says people are likely moving to Reno from Sacramento, San Francisco and Las Vegas.
"A lot of California is just moving into Nevada," said Sarah Scattini, a Real Estate agent in the Reno area. " I think because less expensive than California and we have no state tax which is great."
In 2017, News 4 reported that people were moving from areas where there were lots of rules, regulations traffic and no room to expand. Back then they were moving from Pennsylvania, New York, Florida, the Los Angeles basin, San Francisco and Seattle.
More people moving to the area has put the squeeze on the rental and buying market. Reno rent is up 20% from two years ago. The median rent for a one bedroom apartment is $1,042. A two bedroom apartment is $1,321. New residents often rent before they buy and they quickly find out the median home price according to the Reno/Sparks Association of Realtors is $595,000.
On top of the new businesses moving to the area which brought more employees to the area, people also realized that the expensive big cities were no longer important. The pandemic allowed people to work remotely and they could live anywhere.
"We don’t have enough housing for them right now, driving up rental prices," said Scattini.
Becca Schiappa moved to Reno from Chicago in 2019.
"I feel like there’s a huge influx of people even in the time I’ve been here," she said.
Schiappa manages coffee shops in the area and said the migration to Reno also trickles down to employment too.
"I have a hard time employing and staffing at our locations because housing for a single person, even in a house where they have three roommates is unaffordable at this point in time," she said.
Apartment List reports when people move out of Reno, they're mostly likely move to Sacramento, San Francisco, and Las Vegas. The company collects data based off users searching on their platform from January to March of this year.
To see migrations for other cities, click here.