Nevada · Population 268,959 · Updated March 2026
How far your income goes in Reno
State-level tax rates that affect your costs
Reno has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 122 (where 100 equals the national median), Reno residents can expect to pay median rent of $1,453/month while earning a median household income of $78,448/year.
The median home value in Reno, NV is $498,600, with typical monthly owner costs around $1,482 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Nevada has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.85% sales tax rate and 0.53% effective property tax rate, the overall tax environment helps keep costs manageable in Reno.
Common questions about living costs in Reno