Downtown Reno has a handful of residential condo towers, and they are easy to confuse from the street. The buildings differ in age, unit size, monthly dues, financing and rental rules, and those differences decide what a unit really costs you. The useful question is narrow: for the budget, size, monthly cost and financing you actually have, which building has been the better purchase, and what does that mean for the unit you are looking at today?
So we measured it. We matched every condominium sale in the Northern Nevada Regional MLS with a closing date from October 1, 2023 to September 30, 2026 to seven buildings in and next to downtown by street address: The Montage, The Palladio, Riverwalk Towers, Arlington Towers, Park Towers, Belvedere Towers and 1200 Riverside. That produced 185 closings. We compared price per square foot, HOA dues and what they cover, floor premiums, time to an accepted offer, discounts from the original asking price and how buyers paid, then checked every active tower listing and each building's FHA status on HUD's public condominium list on November 13, 2026.
Downtown Reno's seven condo towers sold for a median $290,000, or $354 per square foot, across 185 MLS closings from October 2023 to September 2026, with median HOA dues of $720 a month. Price per foot ranged from $209 at 1200 Riverside to $463 at The Palladio. Most units sold below their first asking price, and none of the seven was FHA-approved on November 13, 2026, so plan dues and financing first.
- Belvedere Towers had the lowest median sale, $204,500, from October 2023 to September 2026.
- Montage floors 17 to 23 sold for a median $430 per square foot, against $342 on floors 1 to 8.
- 86.5% of the 185 tower sales closed below the original asking price.
- Cash paid for 17 of 21 tower closings from July to September 2026.
- On November 13, 2026, 34 tower units were for sale, about 7.4 months of supply.
| Measure | Montage | Palladio | Arlington | Park Towers | Riverwalk | Belvedere | 1200 Riverside |
|---|---|---|---|---|---|---|---|
| Address | 255 N Sierra St | 50 N Sierra St | 100 N Arlington Ave | 280 Island Ave | 200 W 2nd St | 450 N Arlington Ave | 1200 Riverside Dr |
| Year built (MLS) | 1978 | 2006 | 1966 | 1961 | 1978 | 1974 | 1972 |
| Closings, 36 months | 50 | 11 | 26 | 22 | 24 | 34 | 18 |
| Median sale price | $341,000 | $510,910 | $314,500 | $283,500 | $236,000 | $204,500 | $321,750 |
| Median price per sq ft | $387 | $463 | $413 | $351 | $297 | $328 | $209 |
| Median size | 967 sq ft | 1,362 sq ft | 674 sq ft | 801 sq ft | 770 sq ft | 572 sq ft | 1,624 sq ft |
| Median monthly HOA dues | $650 | $832 | $538 | $699 | $761 | $581 | $1,139 |
| Median days to accepted offer | 70 | 113 | 54.5 | 61 | 83 | 68.5 | 38.5 |
| Median sale price vs. original ask | 94.5% | 93.5% | 94.6% | 93.4% | 91.8% | 96.1% | 98.0% |
| For sale on Nov. 13, 2026 | 8 | 6 | 5 | 1 (plus 2 under contract) | 8 | 4 | 2 |
Which buildings count as downtown Reno's condo towers?
For this comparison, a tower is a multi-story condominium building in or next to downtown Reno whose units sell individually through the MLS. Five sit in ZIP 89501: The Montage at 255 N Sierra Street, The Palladio at 50 N Sierra Street, Riverwalk Towers at 200 W 2nd Street, Arlington Towers at 100 N Arlington Avenue and Park Towers at 280 Island Avenue. Two sit in 89503: Belvedere Towers at 450 N Arlington Avenue and 1200 Riverside at 1200 Riverside Drive, where 15 of the 18 units that sold had two bedrooms.
The buildings differ more than their shared neighborhood suggests. MLS records give a year built of 2006 for The Palladio, 1978 for The Montage and Riverwalk Towers, 1974 for Belvedere, 1972 for 1200 Riverside, 1966 for Arlington Towers and 1961 for Park Towers. Unit numbers on sales from October 2023 to September 2026 run up to the 23rd floor at The Montage and Arlington Towers, the 18th at Park Towers, the 15th at Riverwalk and the 14th at Belvedere. Size varies just as much: the median unit that sold from October 2023 to September 2026 was 572 square feet at Belvedere and 1,624 at 1200 Riverside. HUD's condominium record lists The Montage as 376 residential units in a mixed-use project and The Palladio as 92 residential units in a mixed-use project, which helps explain why The Montage produced 50 of the 185 sales and The Palladio only 11.
We matched sales by street number and street name rather than by the MLS subdivision field, because that field was blank on many records for the same buildings. Seven matched records were checked against the MLS listing by number and agreed on address, price, closing date and size. Townhomes and low-rise complexes elsewhere in downtown Reno, such as the townhouses on State Street and South Center Street, are not towers and are left out.
What do downtown Reno tower condos cost per square foot?
Across all 185 closings from October 2023 to September 2026, the median tower condo sold for $290,000, or $354 per square foot, at a median 831 square feet. Measured over the same 12 months, October 2025 to September 2026, the 55 tower sales went for a median $328 per square foot, against $286 for the 339 other Reno condominium closings, which were larger at a median 963 square feet and cheaper at a median $268,000. Tower buyers paid more per foot for less space, and, as the next sections show, more in monthly dues.
The building matters more than the average. The Palladio led at $463 per square foot, followed by Arlington Towers at $413 and The Montage at $387. Park Towers sold at $351, Belvedere at $328 and Riverwalk Towers at $297. 1200 Riverside sat far below at $209, on the largest units in the group, a median 1,624 square feet. A 1,600-square-foot two-bedroom there and a 600-square-foot studio at Arlington Towers are not the same product, even when their prices are close. In five of the seven buildings, units smaller than the building's median size sold for a higher median price per square foot than larger ones, so compare units of similar size.
The spread inside each building is wide too. Over the same 36 months, Montage sales ran from $190,000 to $1,360,000, Arlington Towers from $160,000 to $970,000 and The Palladio from $298,000 to a $1,850,000 penthouse that closed in December 2025. Belvedere's range was the tightest, $150,000 to $350,000, because nearly every unit is a studio, one-bedroom or two-bedroom of modest size. When you price a specific unit, compare it with sales of similar size and floor in the same building first, and use the building medians only to see whether the asking price sits high or low for its tower. Current listings in all of these buildings appear among Reno condos for sale, and the larger view units appear among Reno luxury condos for sale.

How have tower prices changed since 2023?
Mostly down, with one clear exception. We split the 36 months into three 12-month periods, each running October to September. Across all seven towers, the median sale price per square foot was $354 for the full window but $328 for the most recent 12 months, October 2025 to September 2026, when 55 units sold. The median sale price was $290,000 in both, and the median size was 831 square feet in both.
Building by building, The Montage went from $407 per square foot in the first period to $405 and then $360. Riverwalk Towers slid from $326 to $312 to $271. Park Towers fell from $388 to $323 to $318, and Belvedere from $343 to $320 to $314. Arlington Towers moved the other way, from $409 to $417 to $429, on 12 sales in the latest period, tied with The Montage for the most. The Palladio and 1200 Riverside sold too few units to call a trend: four and five sales in the latest year.
| Tower | Oct 2023 to Sep 2024 | Oct 2024 to Sep 2025 | Oct 2025 to Sep 2026 |
|---|---|---|---|
| The Montage | $407 (23) | $405 (15) | $360 (12) |
| Arlington Towers | $409 (9) | $417 (5) | $429 (12) |
| Park Towers | $388 (7) | $323 (10) | $318 (5) |
| Belvedere Towers | $343 (16) | $320 (8) | $314 (10) |
| Riverwalk Towers | $326 (10) | $312 (7) | $271 (7) |
| The Palladio | $474 (5) | $503 (2) | $359 (4) |
| 1200 Riverside | $286 (5) | $195 (8) | $193 (5) |
Read the small cells with care. A single penthouse or a single distressed studio can move a median built on five sales, and the mix of floors and sizes differs from year to year. Still, the direction is consistent across the four busiest buildings other than Arlington: tower prices per foot were lower in the 12 months ending September 2026 than in the 12 months ending September 2024. For a buyer, that means recent sales are the right comparison and 2023 or 2024 prices are not a floor. For an owner, it means a 2024 purchase price is not a reliable guide to today's value. Reno's wider condo market, covered in the Reno condos and townhomes buyer guide, is the better benchmark for whether a tower discount is about the building or about the whole market.
How much are HOA dues in each tower, and what do they cover?
Dues are where towers differ most from the rest of Reno's condos. Across all 185 tower sales from October 2023 to September 2026, the median carried monthly dues of $720, or $0.71 per square foot. Over the 12 months from October 2025 to September 2026, the tower median was $748 a month, or $0.80 per square foot, against $374 and $0.39 per square foot on other Reno condo sales in the same months.
By building, median monthly dues on sales from October 2023 to September 2026 ran from $538 at Arlington Towers to $1,139 at 1200 Riverside. Per square foot, Riverwalk Towers ($0.99) and Belvedere ($0.98) were highest, Park Towers ($0.81) and Arlington ($0.80) were in the middle, and 1200 Riverside ($0.70), The Montage ($0.68) and The Palladio ($0.64) were lowest. The dues recorded on the eight Riverwalk listings for sale on November 13, 2026 had a median of $996 a month, well above the building's $761 median on past sales, because several of those listings are larger units. Belvedere's dues per square foot rose from $0.95 in the first period to $1.07 in the latest one, and Arlington's from $0.71 to $0.80.
What the dues pay for changes the comparison. Belvedere's sale listings most often list utilities, insurance, electricity, trash, water, security and gas among the items dues cover, so an owner there may have few separate utility bills. Park Towers and Riverwalk listings frequently include utilities and insurance. Montage listings most often name insurance, snow removal, utilities, water, trash, grounds and sewer. These come from the "fee includes" field agents fill in on each listing, which varies from listing to listing in the same building, so treat them as a guide and read the association's budget for the real list.
| Tower | Median dues | Dues per sq ft | Range on sold units | Most-listed inclusions |
|---|---|---|---|---|
| Riverwalk Towers | $761 | $0.99 | $555 to $1,167 | Insurance, utilities, trash, snow removal |
| Belvedere Towers | $581 | $0.98 | $245 to $1,319 | Utilities, insurance, electricity, trash, water, gas |
| Park Towers | $699 | $0.81 | $264 to $1,288 | Insurance, utilities, sewer, trash, water |
| Arlington Towers | $538 | $0.80 | $332 to $1,829 | Insurance, trash, structure, utilities, water |
| 1200 Riverside | $1,139 | $0.70 | $714 to $1,278 | Snow removal, insurance, trash, water, utilities |
| The Montage | $650 | $0.68 | $316 to $1,897 | Insurance, snow removal, utilities, water, trash |
| The Palladio | $832 | $0.64 | $382 to $2,142 | Insurance, trash, water, grounds, structure |
Our guide to Reno HOA fees explains how dues, reserves and assessments fit together across the region.

Do higher floors sell for more in The Montage and Arlington Towers?
Yes, and by a measurable amount. These two buildings had enough sales across enough floors to test it, and their unit numbers encode the floor. We split each into thirds by floor and compared the median price per square foot.
At The Montage, units on floors 1 to 8 sold for a median $342 per square foot across 17 sales, floors 9 to 16 for $379 across 20, and floors 17 to 23 for $430 across 13. That puts the top third about 26% above the bottom third per foot. At Arlington Towers, floors 1 to 8 sold for $400 per square foot (five sales), floors 9 to 16 for $389 (ten) and floors 17 to 23 for $461 (11), so the top third ran about 15% to 19% above the two lower bands there.
Floor is not the only thing that changes as you go up. Unit size, view direction, finishes and whether a unit was remodeled all vary, and the lower Montage floors include some of its larger units, which pulls their price per foot down. So a floor premium is a pattern to price against, not a fixed markup. In practice, it means a buyer comparing a seventh-floor and a nineteenth-floor unit of the same size should expect a real gap, and a seller on a high floor should price against high-floor sales rather than the building median. The other towers gave thinner or mixed evidence. Park Towers rose with height, from $326 to $342 to $405 per square foot, but its top band holds only three sales. The Palladio's floors 9 to 12 sold for $479 against $460 on floors 5 to 8, on ten sales in all. At Riverwalk and Belvedere the middle floors sold highest per foot, because their top bands were mostly larger units, which sell for less per foot. 1200 Riverside's unit numbers do not encode a floor.

How long do tower condos take to sell, and do they sell below asking?
Longer than other Reno condos, and usually below the first asking price. Across the 185 tower closings, the median unit took 65 days from listing to an accepted offer, and 86.5% sold for less than their original asking price, at a median 94.6% of it. The latest 12 months were slower: 82 days to an accepted offer and 92.7% selling below the original ask, at a median 92.5% of it. Other Reno condos from October 2025 to September 2026 took a median 36 days, 69.0% sold below their original asking price, and the median sold at 97.1% of it.
By building over the full 36 months, 1200 Riverside moved fastest, at 38.5 days and 98.0% of the original ask, and Arlington Towers went under contract in a median 54.5 days. The Palladio was slowest at 113 days, and every one of its 11 sales closed below the original asking price. Riverwalk took 83 days and sold at a median 91.8% of the original ask, the deepest discount in the group. The Montage took 70 days at 94.5%, Belvedere 68.5 days at 96.1% and Park Towers 61 days at 93.4%.
Against the final list price, after any reductions, the discount across the 185 sales is smaller: the median was 96.9%. Two things open the gap between those ratios. Of the 185 units, 88 (47.6%) had their asking price cut before they sold, and 73 of the other 97 still closed below their only asking price. Once a buyer and seller agreed, closings were quick, a median 27 days from contract to closing across the 185 sales. For a buyer, the practical point is that a listing's price history matters as much as its current price. For a seller, it means the first asking price does the most work, a point we return to in the section for owners.
How many tower condos are for sale right now?
On November 13, 2026, 34 units across the seven towers were listed as active, plus two Park Towers units under contract. With 55 tower closings in the 12 months to September 2026, that is about 7.4 months of supply at the recent sales pace. Other Reno condos had 108 active listings against 339 closings over the same 12 months, about 3.8 months of supply, so a tower buyer currently has roughly twice the relative choice of a buyer in the rest of the city's condo market.
The supply is uneven. Riverwalk Towers and The Montage each had eight units for sale, The Palladio six, Arlington Towers five, Belvedere four, 1200 Riverside two and Park Towers one active unit plus two under contract. Measured against each building's last 12 months of sales, that ranges from about 2.4 months at Park Towers to 13.7 months at Riverwalk and 18 at The Palladio, though The Palladio's figure rests on only four sales. Montage listings had a median asking price of $396,950, Arlington's $349,000 and Riverwalk's $307,950. Belvedere's four listings had a median ask of $177,000, the lowest of any tower.
Two details from today's listings are worth knowing. First, some units have waited a long time: one Montage listing had been on the market since April 2025. Second, units come back. One Montage unit that sold for $259,000 in November 2023 was listed again on October 9, 2026 at $269,900. Ask for a unit's full sale and listing history before you offer, because it shows both what the last owner paid and how the market has received the unit since. A Reno real estate agent can pull that history from the MLS in minutes.
Can you buy a downtown Reno tower condo with an FHA, VA or conventional loan?
Plan as if financing will be harder than for a house, because the record says it is. On HUD's FHA condominium search, read November 13, 2026, The Montage's approval expired August 24, 2013, The Palladio's expired June 1, 2025, and Riverwalk Towers, Arlington Towers, Park Towers, Belvedere Towers and 1200 Riverside did not appear at all. None of the seven held a current FHA project approval that day.
That does not rule FHA out completely. HUD created a single-unit approval in Mortgagee Letter 2019-13 for a unit in a project that is not approved. The current HUD Handbook 4000.1 sets its conditions, among them owner occupancy of at least 50% of the units, commercial space of no more than 35% of the floor area and no more than 10% of units carrying FHA loans in a project of 20 or more units. Where many units are rented out, the owner-occupancy test alone can rule a unit out, and none of the 21 tower closings from July to September 2026 used FHA. Buyer financing has been recorded on Reno closings since July 2026, and from July to September 2026, 17 of 21 tower closings were cash, three were conventional, one was VA and none was FHA. Other Reno condos in the same months were 47.4% cash (54 of 114), with five FHA sales.
VA loans have their own rule: the VA's purchase loan page says a VA buyer can buy a condo in a VA-approved project, so a VA lender has to confirm the building, and one Arlington Towers sale in August 2026 shows it can work. Listing terms can mislead, too. Several tower listings name FHA among the financing they accept, and that is the seller's willingness, not the building's eligibility. Conventional loans have their own project review. Fannie Mae's Selling Guide treats a project as ineligible when more than 35% of its space is nonresidential or commercial, and HUD records The Montage and The Palladio as mixed-use projects, so ask a lender to review the building's questionnaire before you write an offer, not after. Our analysis of FHA, VA and cash offers in Reno and Sparks shows how condo financing compares with houses. A mortgage pre-approval that names the specific building is especially useful here.

Which towers allow rentals, and what about short-term rentals?
The MLS gives clues, not answers, so treat what follows as a list of questions to ask. Of the 22 Park Towers sales from October 2023 to September 2026, ten had listing remarks saying the building allows short-term rentals, several calling it one of the only downtown buildings that does, and four more pitched the unit for Airbnb. All three Park Towers listings on November 13, 2026 advertise short-term rental use as well. An active Arlington Towers listing describes a 30-day minimum rental requirement. A 2024 Belvedere listing describes mid-term rentals with a 90-day minimum. Several Montage, Arlington and Belvedere units sold with tenants in place, which shows long-term leasing happens in those buildings.
Listing remarks are marketing written by the seller's agent, and association rules change by vote. Before you buy any of these units to rent, get the current CC&Rs, rules and any rental restrictions or caps from the association in writing, and ask whether a waiting list or owner-occupancy requirement applies. A building's permission is also only one layer. Short-term rentals in Reno sit under city and visitor-authority rules too, and our guide to Reno and Washoe County short-term rental rules explains which body covers what, and why a nightly-rental plan should be confirmed with the city before you count on the income.
Rental rules also feed back into financing and resale. Fannie Mae's Selling Guide lists "rentals of units on a daily or short-term basis" among the traits of a transient project it will not finance, and project reviews ask about investor ownership. So the same rule that makes Park Towers attractive to investors can narrow its pool of financed buyers. If you plan to live in a unit, a building with stricter rental rules can work in your favor. If you plan to rent it out, price the unit on realistic long-term rent first and treat nightly income as upside you have confirmed, not as the reason the numbers work.
What should you look for in the resale package and special-assessment history?
Start with assessments, because the listings show they happen. Three Montage listings in our records mention a special assessment: a 2023 listing said the seller would pay it off from the sale proceeds, a 2025 listing said a $27,000 special assessment had been paid in full, and a 2026 listing said the seller had paid off its full balance. Two Belvedere listings mention one, including a 2024 listing whose seller had paid an assessment for pool and spa renovations. Those are the ones agents chose to mention, so absence from a listing proves nothing.
In Nevada, the seller of a unit in a common-interest community must provide a resale package under NRS 116.4109, including the monthly assessment, any unpaid obligations, the operating budget and a summary of the reserves. The buyer may cancel until midnight of the fifth calendar day after receiving it. Use that window. Read the current budget, the reserve study and the share of the reserve that is funded, the last several months of board minutes, any pending or approved assessment, insurance coverage on the building and any litigation. In a tower, the large items are elevators, roofs, building envelopes, plumbing risers and heating and cooling plants, and their replacement schedule tells you more about future dues than the current dues do.
Then line the package up with the data. A building whose dues per foot rose from one period to the next, as Belvedere's and Arlington's did, may be catching up on reserves, which is healthy but means the trend may continue. A building with a recent special assessment may have funded a major repair, which can be a reason the next owner pays less later. Ask the seller to pay off any approved assessment at closing, as several sellers in these buildings did, and get it in the purchase agreement. The Reno buyer closing costs guide lists the association transfer and resale fees to expect at closing.
What does it really cost each month to own a tower condo?
More than the price suggests, because dues are a large share of the bill. To compare the buildings on equal terms, we took each tower's median sale price, assumed 20% down and a 30-year fixed loan at 7.11%, Freddie Mac's Primary Mortgage Market Survey average for November 12, 2026, and added the median recorded HOA dues and one-twelfth of the median annual property tax shown on the sale listings.
| Tower | Median price | Down payment | Principal and interest | HOA dues | Property tax | Monthly total |
|---|---|---|---|---|---|---|
| Belvedere Towers | $204,500 | $40,900 | $1,101 | $581 | $59 | $1,741 |
| Riverwalk Towers | $236,000 | $47,200 | $1,270 | $761 | $120 | $2,151 |
| Park Towers | $283,500 | $56,700 | $1,526 | $699 | $95 | $2,320 |
| Arlington Towers | $314,500 | $62,900 | $1,693 | $538 | $123 | $2,354 |
| The Montage | $341,000 | $68,200 | $1,835 | $650 | $199 | $2,684 |
| 1200 Riverside | $321,750 | $64,350 | $1,732 | $1,139 | $116 | $2,987 |
| The Palladio | $510,910 | $102,182 | $2,750 | $832 | $389 | $3,971 |
Three things stand out. Dues ran from 21% to 38% of the monthly total in these examples, and at 1200 Riverside they were about two-thirds of the loan payment. Arlington Towers and 1200 Riverside had similar median prices, $314,500 and $321,750, but Arlington cost $633 less a month, mostly because its median dues were $601 lower. And a buyer moving from a single-family home should compare the total against their current mortgage plus utilities, since several buildings' dues include water, trash and sometimes heat, gas or electricity.
The tax column is the prior owner's bill as recorded on the listing, not your future bill. Washoe County sets taxes from assessed value, and after a sale the Washoe County Assessor keeps the property at the higher general cap on increases until a qualifying claim is filed, such as an owner-occupant's claim for the 3% residential cap. Our Washoe County property tax guide explains how the bill is calculated and when the cap applies. The table also leaves out insurance for your unit's interior, often called an HO-6 policy, which sits on top of the association's master policy, and parking, storage and utility charges not covered by dues. The rate is a national average used as a stand-in, not a loan quote, and a cash buyer's monthly cost is dues, taxes and insurance alone.
Which tower fits which kind of buyer?
The right building depends on what you need the home to do, so start with your requirement and test it against the evidence. The table below pairs common requirements with the building whose record best fits each, the evidence for it and the trade-off that comes with it.
| If your requirement is | Look first at | Evidence | Trade-off to weigh |
|---|---|---|---|
| Lowest purchase price | Belvedere Towers | Median sale $204,500; four listings at a median $177,000 on Nov. 13, 2026 | Smallest units (572 sq ft median) and dues per foot that rose to $1.07 |
| Most space for the money | 1200 Riverside | $209 per sq ft at a median 1,624 sq ft; fastest to sell at 38.5 days | Highest dues, a median $1,139 a month |
| Newest building | The Palladio | MLS year built 2006; median 1,362 sq ft | Highest price per foot ($463), slowest to sell (113 days), FHA approval expired June 2025 |
| Most choice of units | The Montage | 50 sales in 36 months, eight listings on Nov. 13, 2026, measured floor premium | Special assessment history in listings; price per foot down to $360 in the latest year |
| Steadiest price per foot | Arlington Towers | The only tower whose price per foot rose in each period, $409 to $429 | Small units (674 sq ft median); MLS year built 1966 |
| Rental flexibility | Park Towers | Listing remarks repeatedly advertise short-term rentals | Price per foot fell from $388 to $318; confirm rules and city requirements in writing |
| Lower price per foot in the core | Riverwalk Towers | $297 per sq ft, the lowest in ZIP 89501 | Highest dues per foot ($0.99) and 13.7 months of supply |
None of these is a ranking of the buildings or of the people who live in them. A buyer who wants the most space will weigh dues differently from a buyer who wants the lowest entry price, and a buyer paying cash can ignore the FHA column entirely. If you are downsizing from a house, the aging in place versus downsizing guide for Reno and Sparks covers the decision before the building. If you are comparing a tower with a newer condo or townhome elsewhere, look at new condos for sale in Reno and at Midtown Reno, which several Park Towers listings describe as a block away.
What should owners know before selling a downtown tower condo?
Price for the buyer who is actually there. From July to September 2026, 17 of 21 tower buyers paid cash, and none used FHA. Buyers can compare your unit with every other listing in your building and in the other towers, and with 7.4 months of tower supply on November 13, 2026, they have plenty to compare. Over the 36 months to September 2026, 86.5% of tower sales closed below their original asking price.
Use your own building and floor as the yardstick. The median tower unit took 65 days to reach an accepted offer over the full window and 82 days in the latest year, and the units that sold closest to their first price, at 1200 Riverside and Belvedere, sold at a median 98.0% and 96.1% of it. If you are on a high floor at The Montage or Arlington Towers, the floor premium is real and worth showing to buyers with the comparable sales. If your building's price per foot has fallen since you bought, as it did at The Montage, Riverwalk, Park Towers and Belvedere, price against the most recent 12 months, not against what you paid.
Prepare the paperwork before you list. Order the resale package early so you can answer questions about reserves and assessments, and decide in advance whether you will pay off an approved special assessment at closing, as several sellers in these buildings did. Gather your utility bills so a buyer can see what dues cover. If your association has rental limits, say so plainly; a buyer who learns of them from the resale package can cancel within its five-day window. Our guide to selling your Reno home covers costs and timelines, and our seller services page explains how we market a listing.
Frequently Asked Questions
What is the average price of a downtown Reno high-rise condo?
The median sale across seven downtown-area towers was $290,000 from October 2023 to September 2026, based on 185 MLS closings, or $354 per square foot. By building, medians ran from $204,500 at Belvedere Towers to $510,910 at The Palladio, and a Palladio penthouse sold for $1,850,000 in December 2025.
How much are HOA dues at The Montage in Reno?
On 50 Montage closings from October 2023 to September 2026, recorded monthly dues had a median of $650 and ranged from $316 to $1,897, depending on unit size. That works out to a median $0.68 per square foot. Montage listings most often say dues include insurance, snow removal, utilities, water and trash; confirm the current budget in the resale package.
Which downtown Reno condo tower has the lowest HOA dues?
Arlington Towers had the lowest median dues on closed sales, $538 a month, from October 2023 to September 2026. Per square foot, The Palladio was lowest at $0.64. Belvedere Towers' dues per foot were among the highest, $0.98, but its listings often say dues include electricity, gas and other utilities.
Can I use an FHA loan to buy a condo in downtown Reno?
Possibly, but check first. On November 13, 2026, none of the seven towers in this guide held a current FHA project approval on HUD's condominium list: The Montage's expired in 2013 and The Palladio's in June 2025. A single-unit approval may still be possible. No tower closing from July to September 2026 used FHA.
Do higher floors cost more in Reno condo towers?
Yes, where we could measure it. From October 2023 to September 2026, Montage units on floors 17 to 23 sold for a median $430 per square foot against $342 on floors 1 to 8. At Arlington Towers, floors 17 to 23 sold for $461 per square foot against about $390 to $400 lower down.
Which downtown Reno condo buildings allow short-term rentals?
Park Towers listings repeatedly say the building allows short-term rentals, while an Arlington Towers listing describes a 30-day minimum and a Belvedere listing a 90-day minimum. These are listing remarks, not rules. Get the current CC&Rs and rental rules from the association in writing, and confirm city requirements before relying on nightly income.
How long does it take to sell a condo in a downtown Reno tower?
The median tower unit took 65 days from listing to an accepted offer from October 2023 to September 2026, and 82 days in the 12 months to September 2026. Other Reno condos took a median 36 days from October 2025 to September 2026. Closings then took a median 27 days from contract.
How do you choose a downtown Reno tower with confidence?
Narrow the field with your budget and monthly ceiling, then let the building's record do the rest. Use the tables above to see what each tower costs per foot, what its dues cover and how its prices have moved. Within the building you like, compare the unit with recent sales of similar size and floor, read its full price history, and check whether your loan works for that project before you make an offer. When the resale package arrives, read the reserve study and assessment history before the cancellation window closes.
If you are buying with a loan, get a lender's review of the building early. If you are paying cash, use the leverage the data show: most tower units sold below their first asking price, and supply on November 13, 2026 stood near 7.4 months. If you are selling, price against your own building's most recent sales and floor band and have your association documents ready on day one.
We can help with any of these steps. A Reno real estate agent on our team can pull the complete sales history for any of these buildings, tell you how a unit compares with recent sales on its floor and request the association documents early. Browse downtown Reno homes and condos, call Nevada Real Estate Group at (775) 277-2120 or contact us online.
Which sources inform this tower comparison?
MLS study. Closed-sale and listing data come from the Northern Nevada Regional MLS (NNRMLS) through Repliers, pulled November 13, 2026. The population is every condominium sale listing in ZIP codes 89501 and 89503 with a raw MLS status of Closed and an MLS closing date from October 1, 2023 to September 30, 2026 whose street number and street name match one of seven buildings: 255 N Sierra Street (The Montage), 50 N Sierra Street (The Palladio), 200 W 2nd Street (Riverwalk Towers), 100 N Arlington Avenue (Arlington Towers), 280 Island Avenue (Park Towers), 450 N Arlington Avenue (Belvedere Towers) and 1200 Riverside Drive. That gave 185 closings. Price per square foot uses the close price over the MLS living area. Dues are the monthly association fee recorded on each listing. Days to an accepted offer run from the listing contract date to the purchase contract date. Floors come from unit numbers where the building's numbering encodes them. The comparison group is every other condominium closing in the MLS city of Reno from October 2025 to September 2026 (339 sales). Buyer financing is recorded only on closings from July 2026 onward, so it covers July to September 2026. Active listings and months of supply use listings with an MLS status of Active on November 13, 2026. Seven records were spot-checked against the MLS by listing number and matched.
Limits. Sales outside the MLS are not included. Living area, dues, inclusions and remarks are entered by agents and not audited. Medians on a few sales, especially at The Palladio and 1200 Riverside, can move with a single unit. Closings post late, so September 2026 counts can still rise slightly. Listing remarks about rentals and assessments are what sellers' agents wrote, not association records. The script, scripts/reno-condo-tower-study.ts, and its output are kept with this post's records.
Public records and rules. HUD's FHA condominium search, searched for each building on November 13, 2026; HUD Mortgagee Letter 2019-13 on condominium project and single-unit approval and HUD Handbook 4000.1 (Update 18, section II.A.8.p) for the current single-unit conditions; the VA's purchase loan page on VA-approved condo projects; Fannie Mae Selling Guide B4-2.1-03, ineligible projects; NRS 116.4109 on resale packages; the Washoe County Assessor's tax cap page; and Freddie Mac's Primary Mortgage Market Survey for November 12, 2026. All read November 13, 2026. The payment example uses the Freddie Mac average as a stand-in rate; it is not a loan quote.
This guide is general information, not legal, tax or lending advice. Association rules, loan program rules and building approvals change, so confirm current terms with the association and your lender.




