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These days, finding an affordable place to live in the Reno area can be challenging. Home prices in Reno are now at a median cost of $195,100, lower than the Minnesota average of $345,793.
The average cost of rent is $758/mo in Reno, primarily driven by the current value of real estate in the Reno area. In Reno, 16.21% of households rent, and 46.87% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Reno is $7,351 per month. Households that rent pay about 10.31% of their income on rent here. Reno’s most expensive areas are in the northern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Freeburg, MN: equally priced homes
- Genoa, WI: higher priced homes
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- Brownsville, MN: higher priced homes
- New Albin, IA: less expensive homes
- Romance, WI: higher priced homes
- Eitzen, MN: equally priced homes
- Stoddard, WI: higher priced homes
- Caledonia, MN: equally priced homes
- DeSoto, WI: equally priced homes
Cities with Similar Populations
- Olympus Heights, CO: higher priced homes
- Osnabrock, ND: less expensive homes
- Orinda Village, CA: higher priced homes
- Orange Heights, FL: equally priced homes
- Oramel, NY: less expensive homes
- Oquossoc, ME: higher priced homes
- Opolis, KS: higher priced homes
- Onycha, AL: less expensive homes
- Ono, WI: higher priced homes
- Otsdawa, NY: equally priced homes
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