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
Buying the median home in Reno means financing $480,000. Against the area's $68,000 median household income, that works out to a 7.1x price-to-income ratio.
Property taxes in Reno run 0.67% of assessed value, below the 1.1% national average. On the median home, that's $3,216 a year, or $268 added to the monthly payment.
Nevada charges no state income tax. Every dollar of the $68,000 median household income here converts more directly into covering the $2,957/month payment.
Reno's cost of living index is 110, above the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Reno's median home price runs 9% higher than nearby Las Vegas: $440,000 there versus $480,000 here.
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 LendersLas Vegas
$440,000 median
NVHenderson
$460,000 median
NVNorth Las Vegas
$390,000 median
NVSparks
$448,000 median