Quick answer
At current rates, renting wins over the full 30-year horizon in Reno. Monthly ownership cost $3,092 (vs $$1,820/mo rent) plus NV's 0.59% property tax make the math tough.
Rent vs Buy · NV
Rent vs Buy in Reno (2026)
Real math using NV's 0.59% property tax rate, $1,000/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Renting wins (30-year horizon)
In Reno at NV's tax rates and current 6.8% mortgages, keeping the down payment invested at 7% beats homeownership even after 30 years. The standard advice "buy to build equity" doesn't apply here at today's price-to-rent ratio.
Monthly Cost Breakdown
Buying
$3,092/mo
Mortgage P&I
$368,000 loan, 30yr @ 6.8%
$2,399
Property tax
0.59% of assessed (NV avg)
$226
Homeowners insurance
$1,000/yr NV avg
$83
Maintenance
1%/yr of home value
$383
Cash at close: ~$103,500 ($20% down + fees)
Renting
$1,820/mo
2BR rent (median)
Reno market rate
$1,820
Renters insurance
~$15/mo typical
$15
Down payment invested
$92,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $1,272 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $533,266 | $-125,122 | +$96,377 | $-221,499 |
| Year 10 | $618,202 | $-177,667 | +$117,622 | $-295,289 |
| Year 15 | $716,665 | $-200,328 | +$164,931 | $-365,259 |
| Year 30 | $1,116,541 | +$43,336 | +$634,708 | $-591,372 |
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Reno?
In Reno at current mortgage rates (6.8%), renting and investing the down payment beats buying for the full 30-year horizon. Median monthly ownership costs ($3,092) well exceed median 2BR rent ($1,820), and NV's 0.59% property tax makes the math especially tough.
What's the monthly cost of owning a home in Reno?
On a median $460K home with 20% down at 6.8% fixed rate: mortgage P&I $2,399, property tax $226 (0.59% of assessed value), homeowners insurance $83 (NV average $1,000/year), and maintenance $383 (1% of home value/year). Total: $3,092/month.
How much down payment do I need to buy in Reno?
20% down on a median Reno home ($460K) is $92,000. Plus closing costs of roughly 2.5% ($11,500). Total cash-to-close: about $103,500. FHA loans allow 3.5% down ($16,100) but require mortgage insurance that adds ~$179/month.
What's the 10-year cost of renting vs buying in Reno?
Over 10 years in Reno: renters pay $250,371 in cumulative rent but have $367,993 invested (assuming 7% return on the $92,000 down payment + monthly savings). Buyers have paid $444,489 in total ownership costs and hold $303,914 in home equity. Net: renting is ahead by $295,289 at year 10.