Mortgage payment estimates, closing cost breakdowns, and homebuying data for Reno, Nevada.
Pre-filled with Reno median home price and Nevada tax/insurance rates. Adjust for your property.
Estimated closing costs based on Nevada rates and fees applied to Reno prices.
The median home price in Reno is $495,000, 16% above the Nevada state median of $425,000. With a population of 264,165, Reno is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Nevada average 0.53% annually. This low property tax rate is a significant advantage for Reno buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Nevada runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Reno is $1,650/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Reno is a higher-cost market. At $495K median, buyers need significant savings or strong income. Down payment assistance through Nevada's Home Is Possible DPA program becomes especially important.