Reno, NV
Washoe County · Pop. 274,520
Ranked #181 of 243 cities
30Crisis
Median Home Price
🏠$520K
3.8% YoY
Median Rent
🔑$1,700
3.0% YoY
Median Income
💰$65K
Rent Burden
📊33.5%
% of income to rent
Income to Buy
🏦$149K
annual income needed
Income to Rent
📝$68K
annual income needed
Price-to-Income
⚖️8.0x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$2,768/mo
Est. mortgage (7%, 20% down)
Need $149K/yr income
Rent
$1,700/mo
Median rent
Need $68K/yr income
How Reno Compares
| Metric | Reno | Nevada | National |
|---|---|---|---|
| Home Price | $520K | $441K | $410K |
| Rent | $1,700 | $1,622 | $1,500 |
| Income | $65K | $76K | $75K |
| Rent Burden | 33.5% | 36.0% | 30.0% |
Key Takeaways
- • Home prices in Reno are 27% higher than the national average.
- • Rent is 13% higher than the national average.
- • You need an income of $149K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.