What is the average asking rent for office space in Reno?

As of Q1 2026, the average asking rent for office space in Reno was $25.80/SF, per Kidder Mathews Reno Of.

What is the office vacancy rate in Reno?

The office vacancy rate in Reno was 9.5% as of Q1 2026 (Kidder Mathews Reno Of).

Where does PropZone's Reno market data come from?

This report aggregates quarterly office market data for Reno from Kidder Mathews Reno Of, Cushman & Wakefield, Colliers.

Reno Office Market Report

By PropZone Research · Data through Q1 2026 · Aggregated from Kidder Mathews Reno Of, Cushman & Wakefield, Colliers

Quarterly office market indicators for Reno, aggregated by PropZone from Kidder Mathews Reno Of, Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $25.80/SF with a 9.5% vacancy rate.

Projected current office pricing — Reno

low confidence

Projected asking rent

$25.80/SF/yr

Estimated sale value

$182–$237/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Kidder Mathews Reno Of data (cap rate 6.4%, asking rent held flat). Assumes ~91% occupancy and a 50–65% net-operating-income margin.

Quarter	Asking rent	Vacancy	Net absorption	Under constr.	Source
Q1 2026	$25.80/SF	9.5%	—	—	Kidder Mathews Reno Of
Q1 2026	$25.80/SF	9.5%	-31K SF	—	Cushman & Wakefield
Q4 2025	—	9.2%	2K SF	—	Cushman & Wakefield
Q4 2024	—	10.6%	0K SF	—	Cushman & Wakefield
Q4 2023	—	14.6%	0K SF	—	Cushman & Wakefield
Q4 2023	—	5.2%	39K SF	—	Colliers
Q4 2020	—	5.8%	0K SF	—	Cushman & Wakefield
Q2 2020	—	11.2%	0K SF	—	Cushman & Wakefield
Q3 2017	$34.78/SF	5.2%	0K SF	—	Cushman & Wakefield

Frequently asked questions

What is the average asking rent for office space in Reno?: As of Q1 2026, the average asking rent for office space in Reno was $25.80/SF, per Kidder Mathews Reno Of.
What is the office vacancy rate in Reno?: The office vacancy rate in Reno was 9.5% as of Q1 2026 (Kidder Mathews Reno Of).
Where does PropZone's Reno market data come from?: This report aggregates quarterly office market data for Reno from Kidder Mathews Reno Of, Cushman & Wakefield, Colliers.

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