Reno, NV Mortgage Calculator
Median home price in Reno, NV is $480,000. At 7% on a 30-year fixed, that is roughly $3,193/month in principal and interest. Adjust the inputs below to match your down payment and lender's rate.
*Annual gross income using the 28% rule (housing ≤ 28% of gross monthly income). Includes estimated property tax and insurance.
Buying a Home in Reno, NV
The median home price in Reno, NV is approximately $480,000 as of 2026. With a 20% down payment of $96,000, you would finance $384,000. On a 30-year fixed at 7%, that results in a monthly principal-and-interest payment of roughly $3,193.
Property taxes in Reno, NV run approximately 0.65% of assessed value — around $3,120/year on the median-priced home, or about $260/month added to your payment. Add $150–250/month for homeowner's insurance and your all-in PITI (principal, interest, taxes, insurance) comes to approximately $3,653/month.
Monthly Payment at Different Rates (Reno, NV median price, 30 years)
Income Required to Qualify in Reno, NV
Using the standard 28% front-end ratio (housing costs should not exceed 28% of gross monthly income), and including estimated property tax and insurance, you would typically need a household income of at least $158,719/year to qualify for a Reno, NV median-priced mortgage at today's rates. Lenders may be flexible with strong credit scores (740+) and low existing debt.
Questions fréquentes
What is the median home price in Reno, NV?
The estimated median home price in Reno, NV is $480,000 as of 2026. Prices vary significantly by neighborhood — central districts command premiums, while suburban areas are typically more affordable.
What is the property tax rate in Reno, NV?
Reno, NV carries an effective property tax rate of approximately 0.65%, which works out to about $3,120/year ($260/month) on the median-priced home. Rates can vary by county and municipality within the metro area.
Do I need 20% down to buy in Reno, NV?
No. FHA loans allow as little as 3.5% down, and conventional loans can go as low as 3% for first-time buyers. However, putting down less than 20% on a conventional loan requires PMI (Private Mortgage Insurance), which adds $100–300/month to your payment until you reach 20% equity.