Mortgage Rates in Reno, Nevada — March 2026
Updated March 2026 | Based on Reno market data and regional lending conditions
Reno is a mid-sized city in Nevada with a population of 264,165. The current 30-year fixed mortgage rate in Reno is 6.7%, which is 0.05% above the national average. With a median home price of $495,000 and a 20% down payment of $99,000, homebuyers can expect a monthly principal and interest payment of approximately $2,555.
Current Mortgage Rates in Reno, NV
Below are the current average mortgage rates available in the Reno area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Reno Housing Market Overview
The Reno housing market reflects moderate demand with prices near the national average. The median household income in Reno is $62,455, and the cost of living index is 107.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $120,129 to comfortably afford the median-priced home in Reno, which exceeds the current median household income.
Monthly Payment Breakdown for Reno
Based on the median home price of $495,000 with 20% down ($99,000), here is what you can expect to pay monthly in Reno:
15-Year vs. 30-Year Mortgage in Reno
Choosing a 15-year mortgage in Reno at 5.94% instead of a 30-year at 6.7% would save you $320,580 in total interest over the life of the loan. However, your monthly payment would be $3,329 instead of $2,555 — an increase of $774 per month.
Calculate Your Reno Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Reno
What are the current mortgage rates in Reno, NV?
As of March 2026, the average 30-year fixed mortgage rate in Reno, Nevada is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Reno?
Based on the median home price of $495,000 with 20% down, the estimated monthly mortgage payment in Reno is $2,555 for principal and interest. Including property taxes of $248/month, the total monthly housing cost is approximately $2,803.
What income do I need to buy a home in Reno?
Using the 28% rule, you would need an annual income of approximately $120,129 to afford the median-priced home in Reno at $495,000. The median household income in Reno is $62,455. This means most households would need to either earn above the median or consider homes below $495,000.
Is Reno a good place to buy a home in 2026?
Reno has a moderate cost of living with a cost of living index of 107.5 (national average = 100). The property tax rate in Nevada is 0.6%, which is below the national average. Reno has a population of 264,165 and offers a balanced lifestyle.
Mortgage Rates in Other Nevada Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Reno, Nevada area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.