They call it the tesla effect. I’m Debbie Young
Home prices and rents are climbing in the Reno-Sparks area. It’s part of the impact of Tesla and other businesses moving into our area. A recent study called the Epic Report. Three years ago, the median price for a home in Washoe County was $150,000. Today the median price has almost doubled. William Process, President-Elect for the Reno Sparks Association of Realtors tells News 4 that home prices are now at $291,000. He says first time homeowners are being priced out of the market. And, Process says rents are going up just as fast.