Average Rent in Reno, NV↑ Rents rising 8.8% YoY🔺 2nd priciest in NV
HUD FY2025 · Official government data · Updated annually · Metro pop. 556,539
Market Overview
Reno, NV has rental prices ranging from $1,181/month to $2,788/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,370/month, near the national average. With a median household income of $84,684/year, spending $1,370/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.
How Reno Compares
With an average 2-bedroom rent of $1,722/month, Reno ranks #2 most expensive of the 16 cities tracked in Nevada — pricier than 95% of all US cities in our data.
The Reno Rental Market
The Reno, NV area has a population of about 556,539 and 38% of households renting rather than owning. That is close to the US average renter share of ~34%.
Rent Trends
2-bedroom rents in Reno, NV have risen by $140/month (8.8%) over the past year, from $1,582 to $1,722. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.
Affordability
To afford a 1-bedroom apartment in Reno, NV without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $54,800. The local median household income of $84,684 exceeds that threshold by $29,884, making Reno relatively accessible compared to local wages.
Rent vs. Buy
The median home value in Reno, NV is $573,139, giving a price-to-rent ratio of 27.7. With a break-even horizon of approximately 28 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.
Neighborhoods
Home values — and by extension rent levels — vary significantly across Reno's neighborhoods. Among the highest-value areas are Smithridge ($254,168 median home value), East University ($312,223 median home value), Downtown ($339,327 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.
Fair Market Rents
HUD FY2025Is Reno, NV Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in NVlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| Las Vegas | $1,316 | $1,476 | $1,750 | $2,452 | — |
| Lyon County | $1,062 | $1,069 | $1,249 | $1,750 | — |
| Carson City | $1,021 | $1,148 | $1,467 | $2,056 | — |
| Elko County | $988 | $1,098 | $1,441 | $1,821 | — |
| Nye County | $837 | $950 | $1,150 | $1,581 | — |
| Douglas County | $1,004 | $1,199 | $1,464 | $2,051 | — |
Rent or Buy in Reno?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Reno data
Buying breaks even after 3 years — worth it if you stay 3+ years.
Mortgage Calculator
Estimate monthly payment for $573,139 home at 7% rate
Living in Reno
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Frequently Asked Questions
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⚖️Rent vs Buy in RenoIs it cheaper to rent or buy here?
💵Rent Affordability in RenoSalary needed to afford rent here
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