How much is a home worth in ZIP code 89431?

The typical home in 89431 is worth $399,200, based on the Zillow Home Value Index.

Are home values rising in 89431?

Home values in 89431 are down 0.2% over the past year, and up 3.2% a year over five years.

What is the typical rent in 89431?

A typical home in 89431 rents for about $1,589 a month, a gross rental yield of 4.8%.

What is the property tax rate in 89431?

The effective property tax rate in 89431 is 0.4% — roughly $1,510 a year on a typical home.

ZIP code 89431 has a population of 39,833 and a median household income of $66,592.

HousingHandbookReference data

…

U.S. ZIP Code · NV89431

Washoe County · Reno, NV

Typical home value

$399,200^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.2%
5-year / yr: +3.2%
10-year / yr: +7.2%

Relative price

vs U.S.: +40.5%
vs metro: -17.1%
vs state: -4.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 89431 is worth $399,200 — 17.1% below the Reno, NV median. Over the past year, values have fallen 0.2%. Homes here rent for a typical $1,589 a month — a 4.8% gross rental yield. The effective property tax rate is 0.4%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,589^[2]
Gross yield: 4.8%^[2]
Cap rate: 2.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.4%^[3]
Typical annual tax: $1,510^[3]

#Climate risk

FEMA National Risk Index ratings for Washoe County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Relatively High
Drought: Relatively Low
Heat wave: Relatively Low
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively High
Winter weather: Very High

#Who lives here

Population: 39,833^[3]
Median household income: $66,592^[3]

#Migration

Household moves in and out of Washoe County over a year, from IRS tax-return data.

Net migration: +897^[5]
Moved in: 12,886
Moved out: 11,989

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 12
Elementary: 8
Middle: 2
High: 2

PROCTER R. HUG HIGH SCHOOL
High · Grades 9–12 · Washoe County
2,091 students
SPARKS HIGH SCHOOL
High · Grades 9–12 · Washoe County
1,278 students
SPARKS MIDDLE SCHOOL
Middle · Grades 6–8 · Washoe County
606 students
GEORGE L. DILWORTH S.T.E.M ACADEMY
Middle · Grades 6–8 · Washoe County
598 students
LINCOLN PARK ELEMENTARY
Elementary · Grades PK–5 · Washoe County
417 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.8%

Net yield (after ~40% expenses)2.9%

Annual rent$19,070

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,019

Loan principal$319,360

Down payment$79,840

Total interest paid$407,326

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.56

Monthly cost to own$2,478

Monthly rent$1,589

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 19th percentile^[1]
Rental yield: 69th percentile^[2]
Property tax: 19th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 89431?: The typical home in 89431 is worth $399,200, based on the Zillow Home Value Index.
Are home values rising in 89431?: Home values in 89431 are down 0.2% over the past year, and up 3.2% a year over five years.
What is the typical rent in 89431?: A typical home in 89431 rents for about $1,589 a month, a gross rental yield of 4.8%.
What is the property tax rate in 89431?: The effective property tax rate in 89431 is 0.4% — roughly $1,510 a year on a typical home.
Who lives in 89431?: ZIP code 89431 has a population of 39,833 and a median household income of $66,592.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

89442 vs 89431 →
Wadsworth CDP, NV
Typical home
$405,413
Gross yield
—
89440 vs 89431 →
Virginia City CDP, NV
Typical home
$409,374
Gross yield
—
89501
Reno, NV
Typical home
$417,043
Gross yield
4.8%
89433
Sun Valley CDP, NV
Typical home
$436,347
Gross yield
—
89512
Reno, NV
Typical home
$359,876
Gross yield
4.8%
89502
Reno, NV
Typical home
$438,647
Gross yield
4.0%

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#Jump to section

U.S. ZIP Code · NV89431

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