🏡 Buying a Home Near UNR: How Parents Are Making Their Kids Live Rent-Free in Reno
If your child is heading to the University of Nevada, Reno (UNR) — congratulations! As college housing prices rise, many savvy parents are choosing to buy a property near campus, allowing their student to live rent-free while renting out rooms to classmates or friends.
This smart move builds equity, reduces long-term housing costs, and offers flexible options post-graduation. Here's everything you need to know to do it right — including where to buy, how to structure it, and answers to the most common questions.
🎯 Why Parents Are Buying Near UNR
🚫 Avoid rising rent (Reno’s student rentals average $800–$1,200 per room/month)
💸 Offset mortgage costs by renting to roommates
🏘️ Create long-term investment options after graduation
🏞️ Own property in one of the fastest-growing markets in the West
“We bought a 4-bedroom home near UNR, and our daughter’s friends pay enough in rent to cover the mortgage. She’s living rent-free, and we’re gaining equity every month.” – Real Buyer Testimonial
📍 Best Neighborhoods Near UNR for Parent Buyers
1. University Heights
Walking distance to campus
Popular with upperclassmen and grad students
Mix of homes and small rentals
2. Old Northwest Reno
5–10 min from UNR
Great for larger homes with multiple bedrooms
More suburban and stable appreciation potential
3. Midtown/Downtown Reno
Trendy area with strong rental demand
Ideal for townhomes, condos, and younger tenants
Near nightlife, transit, and downtown shops
4. North Valleys or Lemmon Valley
Budget-friendly
More space for less
15–20 min commute to campus; good for students with cars
🧮 Financial Breakdown: Example Scenario
Home Price: $475,000
Monthly Mortgage (est.): ~$2,600
Roommate Rent (2 roommates @ $1,000): $2,000
Your Student’s Share: $0
Net Monthly Cost: ~$600 (or less depending on your loan/down payment)
Over 4 years, that could be $40,000+ saved in rent while also building equity.
📌 What Property Types Work Best?
Property TypeProsConsSingle-family homeMore space, no shared walls, flexibleHigher maintenance costsTownhome/CondoEasier upkeep, lower priceHOA rules may limit rentalsDuplex/TriplexLive in one, rent the othersMore complex management
📚 FAQ: Buying Near UNR to Rent to Students
Q: Can I legally rent to my child’s friends?
A: Yes — as long as the home is zoned for rental use and doesn’t violate city or HOA regulations. Many UNR-area homes are already being rented to groups of students.
Q: What kind of property should I buy?
A: A 3–5 bedroom home works best for this strategy. Each room can generate rent to help offset or cover the mortgage. Also consider a duplex or townhome depending on your budget and comfort with maintenance.
Q: Will I need a property manager?
A: If you're out-of-state or want minimal involvement, hiring a local property manager can be a good idea. They can handle maintenance, rent collection, and screening other tenants.
Q: What if my child graduates or transfers?
A: You’ll still own a rental in a strong market. UNR has steady demand, and you can easily rent to new students or sell the property.
Q: How close should the property be to campus?
A: Ideally within walking distance or 10 minutes by car. Properties in University Heights or Old Northwest Reno are among the most popular for this reason.
Q: Is Reno still a good market for real estate?
A: Yes — Reno’s housing market remains strong due to population growth, limited inventory, and continued interest from California buyers and investors.
🏁 Final Thoughts
Buying a home near UNR is more than a housing solution — it’s a smart investment strategy. Your child lives rent-free, you offset monthly costs, and you build long-term equity in a fast-growing market.
📞 Ready to Explore Properties Near UNR?
If you're considering buying near the University of Nevada, Reno, let’s connect. We’ll walk you through financing options, the best neighborhoods for student rentals, and help you find the right fit.
👉 Contact Sam Dykstra, local Reno real estate expert to start your journey today.
