Department of Numbers

Reno, Nevada Home Affordability

The data below measures home affordability for the Reno-Sparks, Nevada metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Reno home affordability to other cities.

Reno, Nevada Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Reno HPI series. Median household income data for Reno is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Reno, Nevada Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 94.2
June 2011 95.2
March 2011 101.5
December 2010 106.3
September 2010 109.2
June 2010 106.8
March 2010 112.1
December 2009 113.0
September 2009 115.9

Reno, Nevada Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Reno median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Reno, Nevada Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 82.8
June 2011 83.7
March 2011 89.2
December 2010 93.5
September 2010 96.0
June 2010 93.9
March 2010 98.6
December 2009 101.0
September 2009 103.7

Reno, Nevada Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Reno, Nevada and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Reno, Nevada Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $265,807
October 2011 $263,256
September 2011 $261,994
August 2011 $257,036
July 2011 $248,690
June 2011 $249,857
May 2011 $246,093
April 2011 $240,468
March 2011 $240,468
February 2011 $237,457
January 2011 $242,694
December 2010 $244,102
November 2010 $256,122

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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