Although the reputation of Reno, Nevada, is quite entangled with its role as the gambling and entertainment hub of the desert, it also has a whole lot more to offer its residents year round. The charm of a small city with the top-notch city life of its more metropolitan cousins, you can enjoy world-class entertainers, as well as the monthly Riverwalk Wine, Walk along the banks of the Truckee River with all of your closest friends. Intrigued? Here is what you need to consider the cost of living when moving to this amazing city.
Cost of Housing
As you might imagine, homes in Reno are in high demand – meaning home prices are a fair bit higher than the national average. The median price is around $235,000, and Zillow puts the index even higher with values around $360,300. Rentals are less expensive, with the median rent asked around $872 per month. Downtown is more expensive of course, and living on the outskirts will bring the prices down – and the access to nature up. Even so, it seems everyone in Reno gets regular glimpses of the city’s most populous wildlife: rabbits.
Much of Reno’s employment is, as you might imagine, related to the entertainment industry. Unemployment is at a low 3.3%, and the median household income is $48,815 – just a hair below the Nevada average.
Cost of Food
Eating out in Reno is surprisingly inexpensive, with budget meals available for around $12 and a mid-range dinner for $47. Drinks? You’ll find plenty of cheap beer and happy hour cocktails if you head to the casinos, or check out the hip neighborhood bars in Midtown for something a little more creative. Many restaurants offer al fresco dining options outdoors, so plan to take your time and spend a while… and spend. Grocery costs are even with the national average, a little below the prices in the rest of Nevada.
Cost of Utilities
Have you checked out the climate stats in Reno? Downright pleasant, although quite variable, all year long. So don’t worry about excessive heat or cooling bills, because even when it’s hot, it’s dry heat. Average electric costs are 30% lower than the national average at $113 per month. Add garbage, water, etc., and you’ll pay an average of $140 per month.
Although your vehicle maintenance costs may be lower in Reno, the cost of gasoline is 20% higher than the ever-fluctuating national average. Car insurance rates are an average of $1341 per year. Prefer to take public transit? The RTC runs an extensive bus system throughout Reno and surrounding Washoe County. A one-way fare is $2, with a day pass for $3 and monthly pass for $65. The prices for regional connectors are higher, and depend on the length of your journey.
Across the board, healthcare visits will cost you a bit more in Reno – 27.5% more in the case of seeing the doctor. Health insurance premiums are also 13% higher in Nevada, with average monthly payments of $279. Could the benefits of all that outdoor living make those costly doctor’s visits a moot point? We hope so.
If you’re feeling the pull of “The Biggest Little City in the World”, nestled right up against Lake Tahoe, let us help you find the professional movers that will get you there quickly and at an affordable rate.