Airbnb City Guide: The Best Places To Invest in Reno, Nevada

Airbnb Rules and Regulations in Reno, Nevada

Reno's short-term rental regulations for 2024 aim to strike a balance between fostering the sharing economy and preserving residential neighborhoods. Hosts must obtain a permit, pay applicable taxes, and adhere to strict occupancy limits based on the property's size. Noise restrictions are strictly enforced, with fines for violations escalating after repeated offenses. Parking requirements mandate sufficient off-street spaces for guests.

Stringent safety standards encompass smoke detectors, fire extinguishers, and emergency egress. Advertising must accurately represent the rental's amenities and capacity. Hosts face penalties for unauthorized rentals or non-compliance with the city's ordinances. Notably, Reno prohibits non-owner-occupied short-term rentals in specific residential zones to maintain neighborhood character. Responsible hosting practices and open communication with neighbors are encouraged to ensure a harmonious coexistence.

Reno Airbnb Market Data:

• Average Revenue – $45.6K per year
• Average Daily Rate – $227.4 per night
• Average Occupancy Rate – 55%
• Average RevPAR – $123.5
• Average Home Prices – $543,062

1. Top Places to Invest in Reno, Nevada - Old Southwest

The Old Southwest area of Reno is a charming neighborhood that offers a unique blend of historic charm and modern amenities. With its tree-lined streets, well-preserved homes, and vibrant community, it's an attractive option for investors seeking a prime location for short-term rental properties.

Old Southwest Airbnb Market Data:

• Average Revenue – $49.2K per year
• Average Daily Rate – $241 per night
• Average Occupancy Rate – 56%
• Average RevPAR – $134.4

Convenience: 7/10

The Old Southwest boasts a central location, providing easy access to various parts of the city. Grocery stores, restaurants, and other essential services are within a short distance, ensuring a convenient living experience for guests. However, the area can experience some traffic congestion during peak hours.

Tourist Attractions: 6/10

While not a major tourist hotspot, the Old Southwest offers a glimpse into Reno's rich history. The neighborhood is home to several well-preserved Victorian-era homes and the iconic Riverside Artist Lofts, which attract visitors interested in architecture and local culture. Nearby, the Riverwalk District provides additional dining and entertainment options.

Things to Do: 7/10

The Old Southwest caters to a diverse range of interests. Outdoor enthusiasts can enjoy the nearby Idlewild Park, which offers walking trails, picnic areas, and a playground. The area also hosts various local community events and festivals throughout the year, adding to the vibrant atmosphere. Additionally, the proximity to downtown Reno ensures easy access to a wide array of dining, shopping, and nightlife options.

Average Home Prices: 8/10

According to Zillow data for 2024, the average home price in the Old Southwest area is $425,000. This represents a 5% appreciation rate compared to the previous year, indicating a stable and growing real estate market. The relatively high home prices reflect the desirability of the neighborhood and its potential for strong rental income.

Proximity to Work-Related Travel: 8/10

The Old Southwest is conveniently located near several major employers and destinations. The Renown Regional Medical Center, one of the area's largest hospitals, is just a short drive away. Additionally, the Reno-Sparks Convention Center and the Reno Events Center are within close proximity, making the neighborhood an ideal choice for business travelers attending conferences or events.

X-Factor: 8/10

The Old Southwest's unique charm lies in its historic character and strong sense of community. The well-preserved homes, many dating back to the early 20th century, offer a glimpse into Reno's past while providing modern amenities. The neighborhood's active community association organizes various events and initiatives, fostering a welcoming and inclusive atmosphere for residents and visitors alike.

2. Top Place to Invest in Reno, Nevada - Somersett

Nestled in the foothills of the Sierra Nevada, Somersett is a master-planned community that offers a unique blend of luxury living and outdoor adventure. With its picturesque surroundings, world-class amenities, and proximity to Reno's vibrant downtown, this neighborhood presents an attractive investment opportunity for short-term rental investors.

Somersett Airbnb Market Data:

• Average Revenue – $44K per year
• Average Daily Rate – $227.6 per night
• Average Occupancy Rate – 53%
• Average RevPAR – $121.4

Convenience: 8/10

Somersett boasts a prime location, providing easy access to various parts of Reno and the surrounding areas. Essential services, such as grocery stores and restaurants, are conveniently located within the community or in nearby shopping centers. However, traffic congestion can be a minor inconvenience for residents and visitors alike during peak hours.

Tourist Attractions: 6/10

While not a major tourist destination, Somersett's proximity to Reno's downtown area and the stunning natural landscapes of the Sierra Nevada mountains offers a wealth of attractions. The nearby Truckee River offers opportunities for outdoor recreation, and the vibrant arts and culture scene in Reno's Midtown district provides a unique experience for tourists.

Things to Do: 8/10

Somersett caters to a wide range of interests and lifestyles. Outdoor enthusiasts can enjoy the community's extensive trail system, which winds through the picturesque surroundings and offers opportunities for hiking, biking, and exploring nature. The two championship golf courses within the community, designed by renowned architects, provide a world-class golfing experience for residents and visitors alike.

Average Home Prices: 9/10

According to Zillow data for 2024, the average home price in Somersett is $725,000, reflecting the upscale nature of the community. This represents a 6% appreciation rate compared to the previous year, indicating a strong and stable real estate market. The high home prices are a testament to the desirability of the neighborhood and its potential for generating substantial rental income.

Proximity to Work-Related Travel: 9/10

Somersett's location provides a great opportunity for a corporate rental, thanks to its excellent accessibility to various work-related destinations. The Reno-Tahoe International Airport is just a short drive away, making it convenient for business travelers. Additionally, the community is in close proximity to major hospitals, such as Renown Regional Medical Center and the Reno-Sparks Convention Center, catering to visitors attending conferences or events.

X-Factor: 9/10

Somersett's unique charm lies in its harmonious blend of luxury living and natural beauty. The community's stunning architecture, meticulously designed landscapes, and abundant open spaces create a serene and peaceful environment. The two championship golf courses, designed by renowned architects Tom Kite and Bob Cupp, offer a world-class golfing experience that sets Somersett apart from other neighborhoods in the area.

3. Top Place to Invest in Reno, Nevada - Damonte Ranch

Nestled in the foothills of the Sierra Nevada, Damonte Ranch is a master-planned community that seamlessly blends modern amenities with natural beauty, offering an enticing investment opportunity for Airbnb and short-term rental investors seeking a prime location with a unique blend of luxury and outdoor adventure.

Damonte Ranch Airbnb Market Data:

• Average Revenue – $46.4K per year
• Average Daily Rate – $227.2 per night
• Average Occupancy Rate – 56%
• Average RevPAR – $126.7

Convenience: 9/10

Damonte Ranch boasts a prime location, providing easy access to various parts of Reno and the surrounding areas. Essential services, such as grocery stores, restaurants, and shopping centers, are conveniently located within the community or in close proximity. Traffic congestion is minimal, ensuring a hassle-free experience for residents and visitors alike.

Tourist Attractions: 7/10

While not a major tourist hotspot itself, Damonte Ranch's proximity to Reno's vibrant downtown area and the stunning natural landscapes of the Sierra Nevada mountains offer a wealth of attractions for visitors. The nearby Truckee River and Idlewild Park provide opportunities for outdoor recreation, while the city's arts and culture scene adds a unique flair to the overall experience.

Things to Do: 9/10

Damonte Ranch caters to a diverse range of interests and lifestyles. Outdoor enthusiasts can enjoy the community's extensive trail system, winding through picturesque surroundings and offering opportunities for hiking, biking, and exploring nature. The two championship golf courses within the community, designed by renowned architects, provide a world-class golfing experience for residents and visitors alike. Additionally, the community hosts various events and festivals throughout the year, adding to the vibrant atmosphere.

Average Home Prices: 8/10

According to Zillow data for 2024, the average home price in Damonte Ranch is $649,000. This represents a 5% appreciation rate compared to the previous year, indicating a strong and stable real estate market. The relatively high home prices reflect the desirability of the neighborhood and its potential for generating substantial rental income.

Proximity to Work-Related Travel: 9/10

Damonte Ranch's location offers excellent accessibility to various work-related destinations. The Reno-Tahoe International Airport is just a short drive away, making it convenient for business travelers. Additionally, the community is in close proximity to major hospitals, such as the newly constructed Northern Nevada Sierra Medical Center, and the Reno-Sparks Convention Center, catering to visitors attending conferences or events.

X-Factor: 9/10

Damonte Ranch's unique charm lies in its harmonious blend of luxury living and natural beauty. The community's stunning architecture, meticulously designed landscapes, and abundant open spaces create a serene and peaceful environment. The two championship golf courses, designed by renowned architects, offer a world-class golfing experience that sets Damonte Ranch apart from other neighborhoods in the area. Additionally, the community's active lifestyle and strong sense of community foster a welcoming and inclusive atmosphere for residents and visitors alike.

4. Top Place to Invest in Reno, Nevada - West University

Nestled in the heart of Reno, the West University area offers a unique blend of urban living and academic vibrancy. With its proximity to the University of Nevada, Reno campus, and a thriving downtown scene, this neighborhood presents an attractive investment opportunity for those seeking a prime location for short-term rentals or Airbnb properties.

West University Airbnb Market Data:

• Average Revenue – $46.2K per year
• Average Daily Rate – $226.1 per night
• Average Occupancy Rate – 56%
• Average RevPAR – $124.5

Convenience: 9/10

The West University area boasts an unbeatable level of convenience. Residents and visitors alike enjoy easy access to a wide range of amenities, including grocery stores, restaurants, cafes, and shopping centers. The area's central location also ensures a short commute to various parts of the city, making it an ideal choice for those seeking a hassle-free living experience.

Tourist Attractions: 7/10

While not a major tourist destination itself, the West University area benefits from its proximity to several attractions in Reno. The nearby Riverwalk District offers a vibrant arts and cultural scene, with galleries, museums, and performance venues. Additionally, the area is just a short drive away from the Sierra Nevada mountains' stunning natural landscapes, providing ample outdoor recreation opportunities.

Things to Do: 8/10

The West University area caters to a diverse range of interests and lifestyles. Outdoor enthusiasts can take advantage of the nearby hiking and biking trails, while those seeking a more urban experience can explore the vibrant dining and nightlife scene in downtown Reno. The area also hosts various community events and festivals throughout the year, adding to the lively atmosphere.

Average Home Prices: 7/10

According to Zillow data for 2024, the average home price in the West University area is $425,000. This represents a 4% appreciation rate compared to the previous year, indicating a stable and growing real estate market. While not the most affordable option, the area's desirability and potential for strong rental income make it an attractive investment opportunity.

Proximity to Work-Related Travel: 9/10

The West University area's location is ideal for those who frequently travel for work-related purposes. The Reno-Tahoe International Airport is just a short drive away, making it convenient for business travelers. Additionally, the area is in close proximity to major employers, such as the University of Nevada, Reno, and various hospitals and medical facilities.

X-Factor: 8/10

The West University area's unique charm lies in its vibrant academic atmosphere and the youthful energy that permeates the neighborhood. With the University of Nevada, Reno campus at its heart, the area attracts diverse students, faculty, and professionals, creating a dynamic and culturally rich environment. The area's walkability and bike-friendly streets further contribute to its appeal, fostering a sense of community and promoting an active lifestyle, perfect for fitness-focused rentals.

5. Top Place to Invest in Reno, Nevada - Montreux

Nestled in the foothills of the Sierra Nevada, Montreux is a luxurious gated community that epitomizes the pinnacle of upscale living. With its stunning architecture, world-class amenities, and breathtaking natural surroundings, this neighborhood presents an unparalleled investment opportunity for those seeking a prime location for high-end short-term rentals or Airbnb properties.

Montreux Airbnb Market Data:

• Average Revenue – $83.4K per year
• Average Daily Rate – $457.3 per night
• Average Occupancy Rate –50%
• Average RevPAR – $213.1

Convenience: 8/10

Montreux offers a convenient lifestyle with essential services and amenities within the community or in close proximity. However, its secluded location can make accessing certain parts of Reno slightly more time-consuming. Nevertheless, the community's exclusivity and privacy contribute to its allure, making it an attractive choice for discerning guests.

Tourist Attractions: 7/10

While not a major tourist destination itself, Montreux's proximity to the stunning natural landscapes of the Sierra Nevada mountains and the vibrant city of Reno offers a wealth of attractions for visitors. The nearby Truckee River and Mount Rose Wilderness Area provide ample opportunities for outdoor recreation, while Reno's arts, culture, and entertainment scene add a unique flair to the overall experience.

Things to Do: 9/10

Montreux caters to a luxurious lifestyle with a wide range of amenities and activities. The community boasts two championship golf courses designed by renowned architects, offering a world-class golfing experience. Residents and guests can enjoy the state-of-the-art fitness center, tennis courts, and hiking trails that wind through the picturesque surroundings. The community also hosts various exclusive events and social gatherings throughout the year.

Average Home Prices: 10/10

According to Zillow data for 2024, the average home price in Montreux is a staggering $1,875,000. This represents a 7% appreciation rate compared to the previous year, reflecting the community's unparalleled luxury and desirability. The exceptionally high home prices are a testament to the exclusivity of the neighborhood and its potential for generating substantial rental income from discerning guests.

Proximity to Work-Related Travel: 8/10

Montreux's location offers excellent accessibility to various work-related destinations. The Reno-Tahoe International Airport is a short drive away, making it convenient for business travelers. Additionally, the community is in close proximity to major hospitals and medical facilities, as well as the Reno-Sparks Convention Center, catering to visitors attending conferences or events.

X-Factor: 10/10

Montreux's unique charm lies in its unparalleled luxury and exclusivity. The community's stunning architecture, meticulously designed landscapes, and abundant open spaces create a serene and peaceful environment that exudes sophistication and elegance. The two championship golf courses, designed by renowned architects Jack Nicklaus and Tom Weiskopf, offer a world-class golfing experience that sets Montreux apart from other luxury communities in the area. Additionally, the community's commitment to privacy and security and its exceptional amenities foster an atmosphere of exclusivity that appeals to the most discerning guests.