State rental market analysis · NV
Nevada rental markets
21 tracked cities over 5,000 population, 12 ranked and summarized by their median Overall; 0 of 12 evaluable cities pass the modeled Buy & Hold screen. Every number traces to Census, Zillow and BLS. Compare state coverage and results →
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 has a median Overall of 48.3/100 across its ranked cities, but it is not assigned a headline state rank: 12 cities across 7 county contexts are evaluable for the Buy & Hold screen, below the published minimum of 20 cities and 10 county contexts. 12 ranked cities roll up into this grade. Its strongest factor is population growth: 1.5%, 6th of 51, backed by job growth (6th).
The biggest drag is low unemployment: 5.2%, 48th of 51. 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 12 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% | #39 of 51 |
| Rent growth | Growth | 3.9% | #36 of 51 |
| Home value growth | Growth | 4.1% | #22 of 51 |
| Population growth | Growth | 1.5% | #6 of 51 |
| Job growth | Growth | 1.6% | #6 of 51 |
| Price-to-income | Cash Flow | 5.8× | #41 of 51 |
| Unemployment | Stability | 5.2% | #48 of 51 |
| Rental demand | Stability | 40% renters · 5.4% vacancy | two-part measure |
| Income growth | Growth | 5.5% | #16 of 51 |
Every city in Nevada, ranked
Led by Fernley at 67/100. 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 | 67 | B | A | C | $402,807 | 5.9% | #282 |
| 2 | North Las Vegas | 56 | C | B | D | $402,439 | 5.6% | #1163 |
| 3 | Fallon | 53 | D | B | C | $394,901 | 4.8% | #1474 |
| 4 | Carson | 53 | C | B | C | $501,614 | 5.1% | #1482 |
| 5 | Mesquite | 53 | D | A | C | $373,548 | 4.2% | #1500 |
| 6 | Henderson | 51 | C | B | C | $479,263 | 4.5% | #1804 |
| 7 | Sparks | 48 | D | B | D | $535,221 | 4.8% | #2210 |
| 8 | Las Vegas | 48 | C | B | D | $419,144 | 4.9% | #2250 |
| 9 | Boulder City | 44 | D | C | B | $470,766 | 4.1% | #2832 |
| 10 | Reno | 44 | D | A | D | $573,360 | 4.1% | #2875 |
| 11 | Elko | 44 | C | D | C | $363,381 | 5.9% | #2885 |
| 12 med | Winnemucca | 42 | D | D | B | $355,630 | 3.7% | #3123 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2020–2024 · Census PEP July 2025 · BLS LAUS county 2025 annual (11-month average). Generated 2026-10-06. 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), the same release the city table above uses; the geographies differ, so the same measure can still 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 75#58 nat | 5.0%Survey yield |
| #2 | 89183Enterprise | A 75#60 nat | 4.9%Survey yield |
| #3 | 89148Spring Valley | A 75#76 nat | 5.1%Survey yield |
| #4 | 89147Spring Valley | A 74#84 nat | 5.3%Survey yield |
| #5 | 89141Enterprise | A 74#106 nat | 5.2%Survey yield |
| #6 | 89156Sunrise Manor | A 74#135 nat | 5.4%Survey yield |
| #7 | 89103Spring Valley | A 74#147 nat | 5.7%Survey yield |
| #8 | 89122Whitney | A 73#181 nat | 5.6%Survey yield |
| #8 | 89123Paradise | A 73#181 nat | 4.7%Survey yield |
| #10 | 89113Spring Valley | A 72#261 nat | 4.7%Survey yield |
| #11 | 89178Enterprise | A 72#283 nat | 5.4%Survey yield |
| #12 | 89031North Las Vegas | A 72#295 nat | 5.8%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 |