Cost of Living in Topaz Ranch Estates, NV

With a cost of living index of 96, Topaz Ranch Estates, NV is slightly more affordable than average. Living here is 4% cheaper than the national average and 13% below the Nevada state average of 109. Topaz Ranch Estates is a small community of 1,646 residents.

Housing costs are the biggest factor in Topaz Ranch Estates's cost of living. The median monthly rent is $1,327 (1% above the US median of $1,319), and the median home value sits at $262,600 (14% below the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Topaz Ranch Estates is $57,794, which is 23% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Topaz Ranch Estates. The area sees an average annual temperature of 44.2°F, with summers averaging 59°F and winters around 31°F. Annual rainfall totals 20.5 inches spread over roughly 75 days.

Everyday prices in the Reno, NV (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.