The typical home in Reno, NV is worth about $520,000.
With 20% down that's a loan near $416,000 — the calculator
is pre-filled with that figure. Tesla's Gigafactory and a wave of Bay Area transplants have reshaped Reno from a gaming town into a logistics and manufacturing hub, pushing prices up sharply over the past decade. Nevada's cap on annual assessment increases for owner-occupants keeps the effective property tax rate low even as prices have climbed.
$2,700.93 / month
Total interest
$556,339
Total paid
$972,339
Payoff
30.0 years
How much you need to earn
Reno, NV's median household income is about
$78,000 a year. Under standard 28/36
lending rules that supports a home price around
$334,261 with 20% down —
below the $520,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Reno, NV is about $1,800 a month, so owning the median home costs roughly
$1,226 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Reno, NV?
On the metro's roughly $520,000 typical home with 20% down, the loan is about $416,000. Principal and interest run near $2,701 a month at today's rate, and Reno, NV's property tax plus insurance add about $325, for a full payment near $3,026.
Can I afford a home in Reno, NV on the median income?
The median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $334,261 with 20% down — below the $520,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Reno, NV?
Typical asking rent is about $1,800 a month. The full owner payment on a median home is near $3,026, so owning costs roughly $1,226 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Reno, NV?
The effective property tax rate in the core county is about 0.50% of market value — roughly $2,600 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Reno, NV rising or falling?
Home values are roughly flat over the past year. Tesla's Gigafactory and a wave of Bay Area transplants have reshaped Reno from a gaming town into a logistics and manufacturing hub, pushing prices up sharply over the past decade. Nevada's cap on annual assessment increases for owner-occupants keeps the effective property tax rate low even as prices have climbed.