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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 $245,719, lower than the Texas average of $322,096.
The average cost of rent is $926/mo in Reno, primarily driven by the current value of real estate in the Reno area. In Reno, 26.77% of households rent, and 45.09% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Reno is $6,826 per month. Households that rent pay about 13.56% of their income on rent here. Reno’s most expensive areas are in the southern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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- Epsom, NH: higher priced homes
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- Weatherly, PA: less expensive homes
- Rock Rapids, IA: equally priced homes
- Rising Fawn, GA: higher priced homes
- Ridgeley, WV: equally priced homes
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