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Cost of Living in Reno

Is it better to rent or buy in Reno? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$95,614
$1,839/mo

Median in area: $1,839

$529,752

Median in area: $529,752

$105,950

If you Rent

🔑
$1,999 /mo
Base Rent$1,839
Est. Utilities$160
% of Income25.1%
Pre-tax Residual$5,969

If you Buy

🏠
$3,096 /mo
P&I (6.5%)$2,679
Taxes & Ins$257
Est. Utilities$160
% of Income38.9%
Pre-tax Residual$4,872

Cost of Living FAQs

Is it cheaper to rent or buy in Reno?›

Based on median housing data, renting is currently more affordable on a monthly basis in Reno. The estimated all-in monthly cost for renting is $1,999, while owning a median-priced home with a 20% down payment is roughly $3,096 per month (a difference of $1,097).

How much do utilities cost in Reno?›

The average monthly utility cost (electricity and natural gas) for a typical home in Reno is approximately $160. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Reno?›

To comfortably afford the median rent and utilities in Reno without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $79,960 per year.