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
Compare the cost of living in Reno, NV with 299 other major U.S. cities