In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
A general overview of the cost of living index for Reno, NV is displayed above. In Reno, NV, the overall cost of living index is 110, which is 6% higher than the Nevada average and 10% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Reno, NV, the city's goods and services are 6% higher than the Nevada average and 13% higher than the U.S. average.
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The cost of living in Reno is 6% higher than the Nevada average.
The cost of living in Reno is 10% higher than the national average.
The cost of housing in Reno is 17% higher than the national average.
Nevada general sales tax is 35% higher than the national average.
Nevada state income tax is 100% lower than the national average.
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Reno, NV to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Reno, NV, you have to earn a higher income in order to still have the same standard of living. To operate the Reno, NV salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.
Median Income & Debt-To-Income Ratio
Median Income
Per Year
Per Month
Max Budget (28% DTI)
Max Budget (36% DTI)
Owners
$71,763
$5,980
$1,674
$2,153
Renters
$33,577
$2,798
$783
$1,007
The affordability of the housing market in Reno, NV as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Reno, NV homeowners, the median income is $71,763. This indicates that a monthly maximum of $1,674 should be spent by homeowners on all housing related costs. Renters have a median income of $33,577. This indicates that renters should have a maximum of $783 used for their rent related monthly costs.
Nevada Sales Tax
State
General Sales Tax
With Max Surtax
Nevada
6.85%
8.15%
Nevada Income Tax
State
Income Tax (Low)
Income Tax (High)
Nevada
0%
0%
When considering the overall cost of living expenses in Reno, NV, it's important to take into account the sales tax for Nevada, as well as the rate for income tax in Nevada. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Nevada is 8.15%, and the sales tax in the state of Nevada is 6.85%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Nevada starts from 0% and goes up to 0%.
Goods & Services
Item
Reno
National avg.
Difference
Haircut
$17.55
$16.09
9.1%
Beauty Salon
$46.47
$37.33
24.5%
Toothpaste
$3.68
$2.45
50.5%
Shampoo
$1.02
$1.00
1.9%
Movie
$10.33
$10.28
0.5%
Bowling
$4.57
$4.93
7.3%
Groceries
Item
Reno
National avg.
Difference
Ground Beef
$3.52
$3.80
7.5%
Fried Chicken
$1.55
$1.40
11.0%
Milk
$2.16
$2.01
7.8%
Potatoes
$1.99
$3.01
33.9%
Pizza
$13.32
$9.89
34.8%
Beer
$8.19
$8.90
8.0%
Health Care
Item
Reno
National avg.
Difference
Optometrist
$108.47
$102.16
6.2%
Doctor
$138.14
$108.36
27.5%
Dentist
$99.33
$92.53
7.4%
Ibuprofen
$10.44
$9.28
12.5%
Lipitor
$385.41
$425.82
9.5%
Housing
Item
Reno
National avg.
Difference
Home Price
$235,800.00
$184,700.00
27.7%
Avg. Mortgage Payment
$1,275.94
$1,202.44
6.1%
Apartment Rent
$872.00
$949.00
8.1%
Transportation
Item
Reno
National avg.
Difference
Gasoline
$2.73
$2.24
21.5%
Tire Balancing
$44.33
$46.29
4.2%
Utilities
Item
Reno
National avg.
Difference
All Electricity
$113.26
$165.96
31.8%
Phone
$30.01
$28.68
4.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.
