MARKET OVERVIEW

• Reno, Nevada has experienced steady population growth in recent years. According to the United States Census Bureau, the population of Reno was around 220,000 in 2010, and it has grown to an estimated population of around 250,000 in 2020. The population growth rate in Reno has been around 1.5% per year, which is slightly higher than the national average of 0.7% per year. The Reno-Sparks metropolitan area, which includes the nearby city of Sparks, has also seen similar population growth, with an estimated population of around 425,000 in 2020.
• This population growth is attributed to several factors, including the city's strong job market, affordable cost of living, and proximity to outdoor recreational opportunities. Additionally, Reno's growing economy, particularly in the technology and healthcare industries, has attracted new residents and businesses to the area.
• The Wells Avenue District is a neighborhood located in the northern part of Reno, Nevada. It is situated near the intersection of Wells Avenue and North Virginia Street, and is bordered by the University of Nevada, Reno to the south and the Midtown District to the north. The Wells Avenue District is known for its historic homes and buildings, many of which date back to the early 20th century. The area has undergone significant redevelopment in recent years, with many of the older homes being restored and repurposed as businesses, such as cafes, boutiques, and art galleries. The district is also home to a number of popular restaurants, bars and shops, making it a vibrant and walkable area.