Apartment Living BlogFair Housing › Top 5 Apartment Amenities in Reno, NV

Apartment rentals in Reno, NV, are currently in a boom phase. Rental rates are rising quickly, and vacancy is near zero at just 1.17%.

 

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The current market strongly favors apartment managers because renters have few choices available. As a result, developers are scrambling to add the infrastructure to accommodate the market shift that resulted from the new jobs in the area.

 

Whether your apartment community existed before the boom or you are developing in response to the hot market, it’s helpful to better understand the renters in Reno, NV, and what they are seeking. While our Reno, NV Area Guide offers contextual information such as cost of living, cultural information, and neighborhood guides, the below infographic uses ForRent.com’s proprietary data to identify the apartment amenities that local residents are seeking.

Top 5 Searched Apartment Amenities in Reno, NV

 

If you’re managing an apartment building in the Reno, NV area, it’s important to understand the amenities that are important to local renters. Specific to Reno’s local culture and regional geography, this data on apartment amenities can help you assess the local market and adjust your offerings to meet the current interest.
Here are the top five searched apartment amenities in the Reno, NV area:

 

1. Washer/Dryer in Unit 50.5%
2. Garages 20.8%
3. Pool 9.8%
4. Laundry Facility 8%
5. Fitness Center 6.7%

In-Unit Laundry is the Most Sought-After Amenity

 

Across many multifamily markets in the U.S., we are seeing strong interest in having a washer and dryer in each apartment. In Reno, NV, an in-unit washer and dryer is the most sought-after amenity, with half of all renters seeking this feature in their next apartment.

 

On average, Americans spend 2.8 days per year doing laundry, according to the Bureau of Labor Statistics. For renters traveling to a laundromat, the time spent doing laundry would dramatically increase. Additionally, many prefer to have private laundry machines rather than a shared laundry facility within the building. Not only are in-unit machines more convenient for renters, but they’re always available and always clean. (Plus there’s no digging for quarters.)

 

For apartment managers, it can be beneficial for your business to install washers and dryers in each unit. The high demand for this amenity means that you can charge more rent — one study found that apartments with in-unit washer/dryers rent for $50-$100 more than their counterparts. Also, including washers and dryers increases resident satisfaction, which in turn improves resident retention and the likelihood that they’ll renew their lease. And it could give your community the edge over other apartments in Reno.

Garages Remain Important to Renters

 

Even as the University of Nevada in Reno leads the country in its effort for self-driving public buses, the city has a large population of car commuters. In fact, 77% of people in Clark and Reno counties drive to work. Commuters working at the Tesla Gigafactory want a garage for their Tesla.

 

For all drivers, location is the most important factor for parking, and an IbisWorld analysis projects a growing demand on the parking lot and garage market. Within apartment communities, an on-site parking garage offers renters convenience, security and protection from the elements.

 

Additionally, for on trend areas like Reno’s downtown with its hip restaurants and shops, there is limited availability for urban parking. By offering a garage or other parking option in these urban neighborhoods, you can distinguish your apartment community from the competition and, in turn, rank higher in the market.

Interest Grows in Pools and Other Luxury Amenities

 

In the hot apartment market of Reno, NV, luxury amenities like pools are attractive to renters who are benefiting from the fast growth in advanced manufacturing and healthcare industries.
In a city with a hot and dry climate, nearly 10% of renters in the Reno metro area are searching for apartments that have pools. Renters seek pools for cooling off, fun with the kids, and for doing laps. For these apartment residents, having a pool at home means not having to drive to nearby Lake Tahoe to take a dip.

 

ForRent.com can help you better understand your local rental market. Learn more at https://www.forrent.com/solutions/.

Debra Peterson

About

Debra Peterson is the General Sales Manager and local market expert for the Reno office of ForRent.com.

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