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Sarah Mitchell
Compass Real Estate · ZIP 89408
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89408 ZIP Code Housing Market
$415,000median sale price
What is the 89408 housing market like right now?
The median home sale price in ZIP code 89408 is $415,000, up 4.4% year-over-year. Homes sell in an average of 41 days with 61 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 89408 ZIP code a buyer's or seller's market?
ZIP code 89408 is currently a balanced market and homes selling in about 41 days. How we determine this →
What are the latest 89408 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $415,000 |
| Median list price | $420,000 |
| Year-over-year price change | +4.4% |
| Average days on market | 41 days |
| Active inventory | 61 listings |
| Sale-to-list price ratio | 99.9% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 89408 zip code, located in Fernley, NV, is currently classified as a balanced market. The median sale price stands at $415,000, representing a +4.4% change year over year. Homes in this area spend an average of 41 days on the market before going under contract. There are currently 61 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 89408 sits in the Fernley, NV area, roughly 12.2 miles from downtown Fernley. Because home prices are set street by street, this ZIP can move differently from Fernley's citywide averages. The figures below reflect 89408 specifically — drawn from Redfin transactions, U.S. Census data for its 24,564 residents, and Zillow value estimates.
Homes sold
111
Last 12 weeks
Days on market
41
Average pace
Active listings
61
Sale-to-list
99.9%
Below asking
What is driving the 89408 housing market?
The 89408 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 99.9% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 89408 have increased +4.4% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 89408 stands at $403,466, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,891 per month. This gives a price-to-rent ratio of approximately 17.8, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 89408?
Population
24,564
Median income
$89,552/yr
Median age
36.3 years
Owner-occupied
71.7%
College grads
16.4%
Avg commute
34.08 min
What is it like living in 89408?
Zip code 89408 is home to approximately 24,564 residents. The median household income is $89,552 per year, which shapes the types of homes and amenities available in the area. With a median age of 36.3 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 71.7% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 16.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 34.08 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 89408.
Which public schools serve ZIP 89408?
7 schools tracked · 4,160 students
The largest public schools serving ZIP code 89408 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Fernley High School
Grades 9-12 · 1,321 students
Fernley Intermediate School
Grades 5-6 · 669 students
Silverland Middle School
Grades 7-8 · 643 students
Cottonwood Elementary School
Grades PK-4 · 575 students
East Valley Elementary School
Grades PK-4 · 503 students
Fernley Elementary School
Grades PK-4 · 421 students
Lyon County Adult Education
Grade range n/a · 28 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 89408
What is the median home price in 89408?
The current median sale price in 89408 is $415,000, based on recent Redfin transaction data. Prices have changed +4.4% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 89408 a buyer's or seller's market?
The 89408 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 89408?
Zip code 89408 has a population of approximately 24,564 residents. The median household income is $89,552 per year. About 71.7% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 89408?
Properties Incorporated provides comprehensive data for 89408 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 89408 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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