The Most Affordable Neighborhoods in Reno, NV by Home Value

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 $553,081, higher than the Nevada average of $441,980.

The average cost of rent is $1,943/mo in Reno, primarily driven by the current value of real estate in the Reno area. In Reno, 44.58% of households rent, and 40.61% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Reno is $8,229 per month. Households that rent pay about 23.61% of their income on rent here. Reno’s most expensive areas are in the southern regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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