Reno, NV Cost Of Living
Cost Of Living In Reno, NV Summary
Cost of living in Reno research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Reno is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Nevada, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Reno is 111, with 100 being the average.
The cost of living index in Reno is 1.1x higher than the national average.
Reno ranks as the #26 cheapest in Nevada out of 33.
Reno ranks as the #4,219 cheapest out of 6,412 in the US.
The median home value in Reno is $391,500.
The median income in Reno is $67,557.
Table Of Contents
Reno's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Reno, NV?
According to the most recent data on the cost of living, Reno has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Nevada, Reno has a cost of living index that's 1.1x higher than Nevada's index of 101.
The standard of living in Reno ranks as #26 most affordable out of the 33 places we measured in Nevada. By definition, that implies Reno ranks as the #7 most expensive place in the Silver State.
For more reading on life in Reno, check out:
- Living In Reno
- Reno Crime Report
- Search Homes For Sale In Reno, NV
In Nevada
In America
Reno Cost Of Living Vs. Nevada
Six factors go into calculating the cost of living index in Reno. Here is how it fairs on each of the criteria:
The Services index in Reno is 107.
The Groceries index in Reno is 114.
The Health index in Reno is 113.
The Housing index in Reno is 118.
The Transportation index in Reno is 127.
The Utilities index in Reno is 83.
| Living Expense | Reno | Nevada | National Average | |
|---|---|---|---|---|
| Overall | 111 | 101 | 100 | |
| Services | 107 | 91 | 100 | |
| Groceries | 114 | 103 | 100 | |
| Health | 113 | 93 | 100 | |
| Housing | 118 | 111 | 100 | |
| Transportation | 127 | 114 | 100 | |
| Utilities | 83 | 97 | 100 | |
Reno, NV Housing Cost Breakdown
Housing swings affordability the most between places in Nevada, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Reno is $391,500.
The Median Rent in Reno is $1,213.
The Median Income in Reno is $67,557.
The Home Value To Income in Reno is 5.8x.
The Rent To Monthly Income in Reno is 0.22x.
| Statistic | Reno | Nevada | United States |
|---|---|---|---|
| Median Home Value | $391,500 | $315,900 | $244,900 |
| Median Rent | $1,213 | $1,238 | $1,163 |
| Median Income | $67,557 | $65,686 | $69,021 |
| Home Value To Income | 5.8x | 4.8x | 3.5x |
| Rent To Monthly Income | 0.22x | 0.23x | 0.2x |
Median Home Value
Median Rent
Median Income
Reno, NV Costs By Category
Detailed Reno Services Costs Vs. Nevada
Detailed Reno Groceries Costs Vs. Nevada
Detailed Reno Health Costs Vs. Nevada
Detailed Reno Transportation Costs Vs. Nevada
Detailed Reno Utilities Costs Vs. Nevada
Reno SnackAbility
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Cost Of Living In Cities Around Reno
The cost of living varies in the cities and towns around Reno. Here's a quick look at the cost of living in the most populous nearby places:
Sparks, NV has a cost of living index of 106, 1.0x Reno.
Sun Valley, NV has a cost of living index of 100, 0.9x Reno.
Spanish Springs, NV has a cost of living index of 118, 1.1x Reno.
| City | Population | Cost Of Living | Vs. Reno |
|---|---|---|---|
| Sparks, NV | 106,900 | 106 | 1.0x |
| Sun Valley, NV | 22,622 | 100 | 0.9x |
| Spanish Springs, NV | 16,131 | 118 | 1.1x |
| Cold Springs, NV | 10,920 | 105 | 0.9x |
| Lemmon Valley, NV | 5,100 | 100 | 0.9x |
