Research / Rent vs. buy / Nevada / Reno

Rent or buy in Reno?
Renting is $1,845 a month cheaper.

Renting the typical home in Reno costs $1,845 less a month than owning it. Even counting equity and price growth, buying does not come out ahead of renting and investing the difference within 30 years under our baseline assumptions.

Updated November 12, 2026 · Zillow data for September 2026 · 7.11% mortgage rate (Freddie Mac, November 12, 2026) · Rank 244 of 339 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study

Monthly cost to own$3,842typical home, 20% down
Typical monthly rent$1,997Zillow, September 2026
Buying breaks even30+ years3.5% price growth
Cash needed to buy$131,459$571,562 home · 20% down + 3% closing
Income needed to own$153,660vs. $79,880 to rent · 30% rule

Where the monthly money goes.

The first-month cost of owning the typical Reno home, split into its parts, against the typical rent. About $367 of the first mortgage payment is principal, which you keep as equity.

The median household income in Reno is $80,760 (Census ACS 2020–2024). Owning the typical home would take 57% of it; renting would take 30%.

As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the Reno, NV HUD Metro FMR Area area is $2,452 a month, still $1,390 below the cost of owning.

  • Mortgage principal & interest $3,076
  • Property tax $205
  • Home insurance $84
  • Maintenance $476

How long you would need to stay.

Net worth of a buyer compared with a renter who invests the down payment, closing costs and any monthly savings at 6% a year. Home values and rents grow 3.5% a year; selling costs 6%.

Change the assumptions

Buying vs. renting in Reno, by years in the home
StayResult
3 yearsRenting ahead by $74,648
5 yearsRenting ahead by $91,863
7 yearsRenting ahead by $110,603
10 yearsRenting ahead by $141,835
15 yearsRenting ahead by $203,270
20 yearsRenting ahead by $278,245
30 yearsRenting ahead by $477,045

Rent or buy elsewhere in Nevada.

Other large Nevada cities in the study.

All cities
Las VegasRenting $1,147/mo cheaperHendersonRenting $1,480/mo cheaperNorth Las VegasRenting $869/mo cheaperSparksRenting $1,473/mo cheaper

More on Reno

See the full Reno rental market profile with Census medians, or check how a typical rental performs for an investor in our cash-flow ranking.

How we calculated this

Price is the Zillow Home Value Index and rent the Zillow Observed Rent Index for Reno. The cost of owning includes principal and interest at 7.11% with 20% down, property tax at the city's 0.43% effective rate (Census ACS), the Nevada average homeowners premium (NAIC 2023) and 1% yearly maintenance. It leaves out income-tax effects, HOA dues and utilities. The typical rental may be smaller than the typical home for sale. Full methodology. This is a citywide estimate, not advice about a specific home.