Reno, MN housing market
Home prices around Reno have risen about 40% over the past 5 years. No new homes were permitted in 2017.
Home values, sales, trends and how Reno compares with the towns next door — updated as new data is published.
Home prices up 40% in 5 years
The federal house price index for the ZIP codes around Reno rose 40% over the past 5 years, faster than across Minnesota (37%). Prices were about flat last year.
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| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | −0.2% | +173% | +127% |
| 2024 | +12% | +174% | +120% |
| 2023 | +2.1% | +145% | +113% |
| 2022 | +16% | +140% | +104% |
| 2021 | +5.6% | +107% | +82% |
| 2020 | −1.6% | +96% | +66% |
| 2019 | +5.2% | +99% | +61% |
| 2018 | +11% | +89% | +55% |
| 2017 | +1.9% | +70% | +46% |
| 2016 | +0.3% | +67% | +38% |
| 2015 | +6.6% | +66% | +32% |
| 2014 | −1.8% | +56% | +28% |
| 2013 | +4.4% | +59% | +21% |
| 2012 | −0.6% | +52% | +16% |
| 2011 | +2.4% | +53% | +18% |
| 2010 | −6.7% | +50% | +25% |
| 2009 | −1.2% | +60% | +33% |
| 2008 | −2.2% | +62% | +42% |
| 2007 | +6.5% | +66% | +48% |
| 2006 | +2.5% | +56% | +49% |
| 2005 | +11% | +52% | +45% |
| 2004 | +3.4% | +37% | +34% |
| 2003 | +8.8% | +32% | +23% |
| 2002 | +9% | +21% | +18% |
| 2001 | +11% | +11% | +9.2% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 56349, 56334, 56308, covering 53% of Reno’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
No new homes permitted in 2017
No permits for new homes were issued in Reno in 2017. The last year with any was 2014 (2 new homes).
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 2 | 2 | 0 | $389,000 |
| 2013 | 1 | 1 | 0 | $183,000 |
| 2000 | 0 | 0 | 0 | — |
Reno's permit office didn't report to the Census in 2017, so the 2017 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Reno and its neighbors
| Town | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|
| Reno | −0.2%† | $1,070 | — | $122,273 |
| Glenwood | −0.9%† | $1,030 | 1 | $42,188 |
| Leven | −0.9%† | $1,090 | — | $91,250 |
| Lake Mary | +4%† | $1,010 | — | $102,969 |
| Minnewaska | +2.4%† | $1,040 | — | $120,833 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,070
HUD's Fair Market Rent for a two-bedroom in Reno is $1,070 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $740 · 4 bedrooms $1,440
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56308, 56334, 56349; Douglas County, MN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.