Carson City, NV
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
expensive
Price to income
5.94×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Nevada
- 5.60×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
moderate
Rent to income
25.8%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Nevada
- 26.5%-0.7
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
tight
Cap rate proxy
2.83%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Nevada
- 3.08%
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.49%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Nevada
- 0.45%+0.04
- vs U.S.
- 0.03%+0.46
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
6.68
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Nevada
- 5.87+0.81
- vs U.S.
- 3.52+3.16
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
4.0%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Nevada
- 4.0%=
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+37.6%
homeValues.yearOverYear
+2.1%
Median home value
$426,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,212 | $14,544 | 20.3% |
| 2 BR | $1,546 | $18,552 | 25.8% |
| 3 BR | $2,150 | $25,800 | 35.9% |
Labor market direction
Unemployment
4.0%
Median household income
$71,809
What's being built
Total TTM
389
Single-family
348
2–4 unit
8
5+ unit
33
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Carson City | 58,249 | $426,700 | $71,809 | 389 | -8.7% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Carson City | 58,249 | $71,809 | 5.94× | 2.83% | +37.6% | 6.68 | 4.0% |
| Walla Walla, WA | 62,150 | $72,212 | — | — | +53.4% | — | 4.6% |
| Enid, OK | 62,456 | $67,302 | — | — | +25.2% | — | 3.6% |
| Lewiston, ID-WA | 64,570 | $70,694 | — | — | +55.0% | — | 3.7% |
| Grand Island, NE | 76,726 | $67,397 | — | — | +55.9% | — | 3.2% |
| Casper, WY | 79,506 | $71,247 | — | — | +39.0% | — | 3.7% |
Where people are moving in from
Net migration
+285
+0.49% of population
| Origin county | Tax returns |
|---|---|
| Washoe County, NV | 505 |
| Douglas County, NV | 347 |
| Lyon County, NV | 287 |
| El Dorado County, CA | 123 |
| Clark County, NV | 108 |
| Los Angeles County, CA | 60 |
Who lives in Carson City
- Median age
- 42
- Bachelor's+
- 24.5%
- Owner-occupancy
- 63.2%
- Vacancy rate
- 5.0%
- Rent burdened (30%+)
- 48.0%
- Median household income
- $71,809
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.