State rental market analysis · NV
Nevada rental markets
18 tracked cities over 20,000 population, 9 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →
Browse every Nevada ZIP Code area → · the full server-rendered index for this state.
Part of the Mountain Census division (West region).
The honest read
Nevada ranks #18 of 51 states for rental investing, with a median Overall of 51.5/100 across its ranked cities, above the national median. 9 ranked cities roll up into this grade.
A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 9 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 4.8% | not measured |
| Rent growth | Growth | 3.8% | not measured |
| Home value growth | Growth | 4.3% | not measured |
| Population growth | Growth | 1.7% | not measured |
| Job growth | Growth | 1.5% | not measured |
| Price-to-income | Cash Flow | 6.0× | not measured |
| Unemployment | Stability | 5.1% | not measured |
| Rental demand | Stability | 41% renters · 505.0% vacancy | not measured |
| Income growth | Growth | 6.1% | not measured |
Every city in Nevada, ranked
Led by Fernley at 73/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| NV rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Fernley | 73 | B | A | C | $406,015 | 6.0% | #28 |
| 2 | North Las Vegas | 61 | B | B | C | $407,369 | 5.5% | #284 |
| 3 | Las Vegas | 53 | C | B | C | $424,778 | 4.9% | #600 |
| 4 | Henderson | 53 | C | B | C | $485,484 | 4.5% | #609 |
| 5 | Mesquite | 51 | C | A | D | $375,930 | 4.3% | #679 |
| 6 | Sparks | 51 | C | B | D | $537,566 | 4.6% | #718 |
| 7 | Carson | 50 | D | C | B | $504,384 | 4.6% | #740 |
| 8 | Reno | 50 | D | B | C | $576,945 | 4.1% | #773 |
| 9 | Elko | 36 | C | F | C | $365,327 | 5.4% | #1476 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.
Limited-data cities in Nevada
These 9 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.
ZIP markets in Nevada
180 Census ZIP Codes (ZCTAs) in Nevada · 114 data-eligible for subscores. These are sub-city government areas ranked separately from the Nevada city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.
Best overall ZIP Codes in Nevada
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical NV state rank; the smaller figure is its national rank. Separate from the Nevada city table and not directly comparable to it.
| NV rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 89139Enterprise | A 76#36 nat | 5.0%Survey yield |
| #2 | 89147Spring Valley | A 75#46 nat | 5.3%Survey yield |
| #3 | 89148Spring Valley | A 75#63 nat | 5.1%Survey yield |
| #4 | 89183Enterprise | A 75#68 nat | 4.9%Survey yield |
| #5 | 89141Enterprise | A 74#103 nat | 5.2%Survey yield |
| #6 | 89122Whitney | A 74#135 nat | 5.6%Survey yield |
| #6 | 89123Paradise | A 74#135 nat | 4.7%Survey yield |
| #6 | 89156Sunrise Manor | A 74#135 nat | 5.4%Survey yield |
| #9 | 89103Spring Valley | A 73#161 nat | 5.7%Survey yield |
| #10 | 89031North Las Vegas | A 72#227 nat | 5.8%Survey yield |
| #10 | 89113Spring Valley | A 72#227 nat | 4.7%Survey yield |
| #12 | 89178Enterprise | A 72#240 nat | 5.4%Survey yield |
Top affordability ZIP Codes in Nevada
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 89442Wadsworth | 97#66 nat | 11.0%Survey yield |
| 2 | 89822Carlin | 87#617 nat | 8.0%Survey yield |
| 3 | 89427Schurz | 83#992 nat | 7.4%Survey yield |
| 4 | 89045 | 82#1,035 nat | 15.3%Survey yield |
| 5 | 89115North Las Vegas | 81#1,220 nat | 6.0%Survey yield |
| 6 | 89508Reno | 79#1,496 nat | 5.8%Survey yield |
| 7 | 89103Spring Valley | 78#1,570 nat | 5.7%Survey yield |
| 8 | 89061Pahrump | 77#1,675 nat | 6.2%Survey yield |
| 9 | 89122Whitney | 77#1,740 nat | 5.6%Survey yield |
| 10 | 89825Jackpot | 77#1,786 nat | 5.5%Survey yield |
| 11 | 89031North Las Vegas | 76#1,865 nat | 5.8%Survey yield |
| 12 | 89108Las Vegas | 76#1,881 nat | 5.6%Survey yield |
Deepest rental-market ZIP Codes in Nevada
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 89102Las Vegas | 84#37 nat | 4.1%Survey yield |
| 2 | 89101Las Vegas | 77#599 nat | 4.6%Survey yield |
| 3 | 89106Las Vegas | 75#945 nat | 5.2%Survey yield |
| 4 | 89104Las Vegas | 75#996 nat | 4.4%Survey yield |
| 5 | 89128Las Vegas | 75#996 nat | 5.0%Survey yield |
| 6 | 89042Panaca | 74#1,009 nat | 4.2%Survey yield |
| 7 | 89139Enterprise | 72#1,511 nat | 5.0%Survey yield |
| 8 | 89148Spring Valley | 72#1,549 nat | 5.1%Survey yield |
| 9 | 89147Spring Valley | 71#1,627 nat | 5.3%Survey yield |
| 10 | 89512Reno | 71#1,627 nat | 3.8%Survey yield |
| 11 | 89419Humboldt River Ranch | 70#1,894 nat | 4.5%Survey yield |
| 12 | 89442Wadsworth | 70#1,894 nat | 11.0%Survey yield |