CALCMONEY // MORTGAGE // NV // RENO
Calculate your monthly mortgage payment using Reno-specific property tax rates and local market data.
$480,000
6.9%
0.67%
110
| Principal & Interest | $2,529 |
| Property Tax | $268 |
| Homeowners Insurance (est.) | $160 |
| Total Monthly Payment (PITI) | $2,957 |
$96,000
$526,449
$126,730/yr
The median home price in Reno is $480,000, above the national median of $420,000. With a median household income of $68,000, the price-to-income ratio is 7.1x — meaning buyers typically spend 7.1 years of gross income on the purchase price.
Property taxes in Reno run 0.67% of assessed value. On the median home, that is $3,216 per year, or $268 per month added to your mortgage payment. This is well below the national average of 1.1%, giving Reno homeowners a meaningful property tax advantage.
Nevada has no state income tax, which means more of your gross salary becomes take-home pay. This effectively increases your purchasing power compared to income-tax states.
The cost of living index in Reno is 110 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $384,000 loan saves $17,280 in interest over 30 years.
Compare Top Reno Mortgage Lenders