Reno, Nevada Cost Of Living

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D

Overall 5%

Goods & Services 2%

Housing 17%

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Reno	Nevada	National
Cost of living	105	102	100
Goods & Services	98	97	100
Groceries	106	107	100
Health care	104	101	100
Housing	117	104	100
Transportation	119	119	100
Utilities	83	88	100

Key findings

The cost of living in Reno is 3% higher than the Nevada average
The cost of living in Reno is 5% higher than the national average
Reno housing 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

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

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 predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Reno 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 would have a maximum of $783 for their rent related monthly costs.

Nevada Sales Tax

State	General Sales Tax	With Max Surtax
Nevada	6.85%	8.25%

Nevada Income Tax

State	Income Tax (Low)	Income Tax (High)
Nevada	0%	0%

Goods & Services

Item	Reno	National avg.	Difference
Haircut	$21.61	$20.27	6.6%
Beauty Salon	$36.39	$40.39	9.9%
Toothpaste	$2.56	$2.36	8.5%
Shampoo	$1.32	$1.08	22.9%
Movie	$10.00	$10.99	9.0%
Bowling	$17.93	$15.49	15.8%

Groceries

Item	Reno	National avg.	Difference
Ground Beef	$4.99	$4.30	16.0%
Fried Chicken	$1.32	$1.40	5.4%
Milk	$2.81	$2.20	27.4%
Potatoes	$2.66	$3.22	17.3%
Pizza	$11.32	$10.74	5.4%
Beer	$9.29	$9.60	3.2%

Health Care

Item	Reno	National avg.	Difference
Optometrist	$103.33	$109.73	5.8%
Doctor	$124.17	$118.34	4.9%
Dentist	$109.89	$100.94	8.9%
Ibuprofen	$11.13	$9.93	12.0%
Lipitor	$443.80	$469.53	5.5%

Housing

Item	Reno	National avg.	Difference
Home Price	$235,800.00	$184,700.00	27.7%
Avg. Mortgage Payment	$1,669.91	$1,229.62	35.8%
Apartment Rent	$872.00	$949.00	8.1%

Transportation

Item	Reno	National avg.	Difference
Gasoline	$3.26	$2.71	20.4%
Tire Balancing	$60.22	$51.86	16.1%

Utilities

Item	Reno	National avg.	Difference
All Electricity	$122.57	$170.84	28.3%
Phone	$181.37	$187.18	3.1%

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.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Sun Valley, NV	20,385	92	7.5%
Lemmon Valley, NV	5,057	97	2.8%
Floriston, CA	30	101	0.7%
Cold Springs, NV	8,845	101	1.2%
Sparks, NV	94,718	103	3.2%
Reno, NV	237,121	105	5.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Winston-Salem, NC	238,474	91	8.5%
Hialeah, FL	235,626	103	2.5%
Garland, TX	234,810	98	2.2%
Scottsdale, AZ	234,495	126	25.9%
Glendale, AZ	239,943	95	4.5%
Reno, NV	237,121	105	5.3%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.