Downtown Professionals
- Walk to work in the downtown core
- Secured entry and concierge convenience
- Maintenance-free, lock-and-leave living
- Nevada zero income tax on earnings

Nevada Real Estate Group — your The Montage specialists. Search condos for sale in downtown Reno's largest residential high-rise: $250K–$1.5M+, secured entry and concierge service, floor-to-ceiling river and Sierra views, steps from the Truckee River Riverwalk, and Nevada's zero state income tax.
The Montage carries a limited number of active listings in downtown Reno (ZIP 89501) — condos priced $250K to $1.5M+ per NNRMLS data. According to NREG’s MLS analysis, downtown Reno high-rise inventory is tight, and well-priced units in the largest residential tower change hands at a measured pace. Listings below refresh daily from live NNRMLS data.
MEDIAN LIST PRICE (ZIP 89501)
$575K
NREG analysis of NNRMLS data via Repliers, as of November 3, 2026
DAYS ON MARKET (RENO CITYWIDE)
55
NREG analysis of NNRMLS data via Repliers, as of November 3, 2026
BUILDING TYPE
High-Rise Condos
NREG community profile
TO THE RIVERWALK
Half a block
Truckee River Riverwalk
Property research
Verify for your address
Confirm current school assignments, association documents, parcel taxes, and insurance with the applicable sources.
Last updated
September 26, 2026
Individual data periods may differ from the page update date.
KEY TAKEAWAYS
The Montage is downtown Reno's largest residential high-rise — a 23-story, 370-unit tower in ZIP 89501 with condos priced from $250K to $1.5M+ and a median list price near $575,000 per NREG’s MLS analysis and NNRMLS data. The five takeaways below capture what those numbers mean for buyers in this U.S. Census Bureau-tracked Washoe County tower.
Last updated November 2026 · Sources: NREG’s MLS analysis, U.S. Census, U.S. Census Bureau (Reno)
PRICE DISTRIBUTION
The ZIP 89501 median list price for The Montage condos sits near $575K per NREG’s MLS analysis November 2026 NNRMLS data. Active inventory concentrates in the $300K–$600K range, with a smaller upper tier above $800K for large view-floor units and penthouses. Each card shows current listing counts for The Montage and surrounding downtown Reno (ZIP 89501).
The Montage listings are filtered by downtown Reno ZIP 89501 — typically a handful of active condos in the tower at any time. Each link opens our live NNRMLS search pre-filtered to that slice, with counts updated daily from NREG’s MLS analysis and NNRMLS data.
Tap a tower to see its dedicated page — current listings, price ranges, amenities, and what daily life looks like inside each downtown Reno high-rise and riverfront condo building.
1,475 active listings across Reno citywide as of November 3, 2026 · MLS data
STAY AHEAD OF THE MARKET
Custom alerts by price, beds, baths, and view exposure — no spam, unsubscribe anytime. With The Montage units turning over at a measured 55-day median pace per NREG’s analysis of NNRMLS data, buyers who see new listings within hours hold a real edge over buyers who check portals weekly — especially in the $250K–$575K entry band where competition is broadest.
Ask the district for the address-specific school assignment for the enrollment year, since boundaries change, and confirm it before you buy. Proximity to a school does not guarantee admission; charter, magnet and private schools set their own rules. Check Washoe school zoning · Nevada Report Card
CRIME DATA
Ask the law-enforcement agency that serves the address for its current reports, and compare places only across the same reporting period, boundary and offense definitions. Missing records do not mean zero crime, the FBI cautions against ranking communities on crime totals alone, and a citywide figure does not describe a particular street.
FBI crime data resources · FBI guidance on comparing communities
The Montage delivers turnkey downtown high-rise living: condos from $250K to $1.5M+, secured entry and concierge service, and the Truckee River Riverwalk a half-block away. Schools are served by the Washoe County School District — verify the specific 89501 downtown assignment at enrollment, as boundaries vary by block.
The Montage is known as downtown Reno's largest residential high-rise — a 23-story, 370-unit tower on N. Sierra Street converted from the former Golden Phoenix hotel-casino. It is recognized for its full-service amenities (secured entry, concierge service, fitness center, club lounge), floor-to-ceiling upper-floor views of the Truckee River, Wingfield Park, and the Sierra Nevada, and an unbeatable walkable location steps from the Riverwalk, dining, and the cultural district.
The Montage fits downtown professionals who want maintenance-free living steps from work, downsizers leaving a single-family home for a turnkey residence with views, lock-and-leave second-home buyers, California tax relocators seeking a Nevada address for zero state income tax savings, and investors who confirm the building's rental policy first. The $250K–$1.5M+ range spans entry studio buyers to penthouse purchasers.
Daily life at The Montage centers on walkable downtown Reno: morning coffee at the ground-floor cafe, a run or stroll on the Truckee River Riverwalk, lunch at a Riverwalk District restaurant, and Wingfield Park summer concerts steps from the lobby. The Reno Aces ballpark, Midtown, casinos, and the cultural district are all on foot, and UNR plus the airport are minutes away by car. The tower's amenities and secured entry make travel and late nights effortless.
The Montage sits at 255 N. Sierra Street in downtown Reno, Nevada (ZIP 89501), a half-block from the Truckee River and the Riverwalk District. It is roughly 2 minutes' walk to the downtown core, 8 minutes from the University of Nevada, Reno, 10 minutes from Reno-Tahoe International Airport via US-395, and 45 minutes from Lake Tahoe via I-80 and NV-431.
Median, active-listing and days-on-market tiles: NREG analysis of NNRMLS data via Repliers, as of November 3, 2026.
Quick Answer
The Montage is one of the strongest lock-and-leave propositions in Northern Nevada. HOA dues bundle most utilities and cover all exterior maintenance, while secured entry and concierge service manage access as you travel and the walkable location removes the need for a car. Confirm the building's extended-absence and rental policies with the HOA before buying.
Source: U.S. Census Bureau (Reno)
According to the U.S. Census Bureau, the tiles below compare housing and population figures for The Montage and its surrounding area with the wider county. Each tile's label names the area it covers.
These are housing and population counts only. We don't describe who lives in a neighborhood or suggest which buyers it suits. Compare homes by their features, location, HOA terms and total cost, and use the Census source for the full tables.
Source: U.S. Census Bureau ACS 2020–2024 5-year estimates (ZIP 89501) · Updated
GROWTH & APPRECIATION
The Montage and the broader downtown Reno condo market have appreciated over the past decade, driven by downtown revitalization, in-migration from California, and the limited supply of true high-rise residences.
The Montage condos have appreciated with the broader downtown Reno revitalization — driven by riverfront improvements, new dining and entertainment, the Reno Aces ballpark district, and sustained California in-migration to a Nevada tax address. The tower's $250K–$1.5M+ range remains an accessible entry into true high-rise ownership, keeping buyer demand broad while the supply of full-service downtown residences stays limited.
Sources: NREG’s MLS analysis and U.S. Census Bureau ACS. Median price figures from NNRMLS active listings; historical approximations. Last updated June 2026.
REPORTED MARKET SERIES
Median list price, days on market, and active inventory for ZIP 89501 — the downtown Reno ZIP covering The Montage and surrounding riverfront towers — from Northern Nevada Regional MLS and NREG’s analysis of NNRMLS data data. Current median for the Montage condo tier sits near $450,000, up approximately 4% year-over-year, with a median 55 days on market. Updated monthly.
Median List Price (ZIP 89501 Montage tier)
+4% YoY (May 2025 → May 2026)
Source: NREG analysis of Northern Nevada Regional MLS data via Repliers
Days on Market
45 → 55 days YoY — downtown condo tier moves at measured pace
Source: NREG analysis of Northern Nevada Regional MLS data via Repliers
Active Listings (The Montage / ZIP 89501)
~15 at any time — limited high-rise condo supply
Source: NREG analysis of Northern Nevada Regional MLS data via Repliers
The long view: the median sold price in Reno rose 117% between 2015 ($273,230) and 2026 ($593,383), across 54,269 recorded closings — Northern Nevada Regional MLS (NNRMLS) records via Repliers.
INVENTORY IS TIGHT
Market Competitiveness
The Montage is a measured-pace downtown high-rise condo market. Typically a handful of active listings appear in the building at any time within ZIP 89501, and homes take a median 55 days on market per NNRMLS data. Well-priced studios and one-bedrooms in the $250K–$400K entry range move faster, since the buyer pool at that accessible tier is broader.
The Montage spans $250K entry studios to $1.5M+ view-floor penthouses — the most turnkey full-service address in downtown Reno. Six buyer profiles below match lifestyles to specific Montage options, followed by the honest pros and trade-offs our team walks every client through before they commit.
Ready to explore condos in The Montage? Our team knows the building's floor plans, HOA structure, warrantability requirements, and floor-by-floor view premiums.
Start Your The Montage SearchTower Comparison
A like-for-like comparison of the most-searched downtown Reno condo towers — median price, days on market, HOA, and lifestyle fit — using active-listing data refreshed monthly via NREG’s MLS analysis and NNRMLS. Prices span $250K for Montage studios to $1.5M+ for view-floor penthouses.
| Submarket | Median Price | $ / Sq Ft | Days on Market | Active Listings | Best For |
|---|---|---|---|---|---|
| The Montage | $450,000 | ~$350+ | 55 | 15 | Full-Service · High-Rise · Riverwalk |
| Palladio | $650,000 | ~$420+ | 60 | 8 | Luxury · Infinity Pool · Riverfront |
| Arlington Towers | $280,000 | ~$280+ | 50 | 10 | Value · Established · Truckee River |
| Riverwalk Towers | $300,000 | ~$300+ | 55 | 8 | Riverfront · Converted Hotel · Value |
| Downtown Reno (all) | $420,000 | ~$330+ | 52 | 60 | Full Downtown Inventory |
Source: NREG’s MLS analysis and NNRMLS data, June 2026. Median prices based on active listings; days on market from closed sales.
Tower Deep Dive
Submarket 1
Downtown Reno's largest residential high-rise — a 23-story, 370-unit full-service tower a half-block from the Truckee River, with secured entry, concierge service, and the most complete amenity package among downtown buildings.
Browse The Montage homes →Submarket 2
A newer, smaller luxury riverfront tower two blocks south with an infinity pool and higher-end finishes — a step up in price and luxury from the Montage tier.
Browse Palladio homes →Submarket 3
Established 22-story twin towers on the Truckee River with generally lower entry pricing — a value-oriented downtown high-rise alternative.
Browse Arlington Towers homes →Submarket 4
The former Comstock Hotel converted to riverfront condos steps from Wingfield Park — an intimate downtown building at accessible price points.
Browse Riverwalk Towers homes →Submarket 5
The full downtown Reno condo and loft market — high-rise towers, riverfront conversions, and lofts spanning a wide range of prices and building styles.
Browse Downtown Reno (all) homes →Submarket 6
The most turnkey full-service entry into downtown Reno high-rise ownership — a 23-story, 370-unit tower a half-block from the Truckee River Riverwalk, with secured entry, concierge service, a fitness center, and a club lounge. Upper-floor units capture floor-to-ceiling river, park, Sierra, and city-light views. The only downtown building combining this scale, amenity package, and Sierra Street walkability at a $250K entry price.
Browse The Montage — Downtown Reno's Flagship Tower homes →The Montage sits at 255 N. Sierra Street in downtown Reno, Nevada (ZIP 89501), a half-block from the Truckee River and Riverwalk District, roughly 2 minutes' walk from the downtown core, 6 minutes from Midtown, 8 minutes from the University of Nevada, Reno, and 10 minutes from Reno-Tahoe International Airport via US-395.
STILL DECIDING?
BY ZIP CODE
ZIP 89501 covers downtown Reno along the Truckee River, including The Montage and the surrounding high-rise and riverfront condo towers. The table below puts this ZIP in context against neighboring northern Nevada ZIPs — median price, price per square foot, days on market, active inventory, and year-over-year price growth — using Northern Nevada Regional MLS data.
| ZIP | Primary Area | Median Price | $ / Sq Ft | Days on Market | Active | YoY |
|---|---|---|---|---|---|---|
| 89501 | Downtown Reno · The Montage · Riverwalk | $450K | ~$350 | 55 | 60 | +4.0% |
| 89509 | Old Southwest · Midtown Reno | $640K | ~$360 | 34 | 120 | +3.1% |
| 89503 | Old Northwest Reno | $520K | ~$330 | 32 | 110 | +2.8% |
| 89521 | South Reno · Damonte Ranch | $680K | ~$320 | 32 | 220 | +2.4% |
| 89523 | Somersett · Northwest Reno | $620K | ~$315 | 32 | 210 | +1.9% |
Source: NREG’s MLS analysis and NNRMLS. Medians from active listings; YoY from closed sales, 2026 vs 2025 year-to-date. Per-sqft figures approximate. ZIP boundaries per Washoe County GIS.
Building & Floor-Plan Guide
The Montage is a single 23-story tower with a range of floor plans rather than a multi-builder community. Pricing and HOA dues scale with unit size and floor level: lower-floor studios and one-bedrooms anchor the entry tier, mid-floor two-bedrooms add space and views, and upper-floor and penthouse units command the view premium. Verify the specific unit's HOA dues, square footage, and view exposure before writing an offer.
Compact · Entry Tier
Near 587 sq ft; the most accessible high-rise entry
Efficient · Walkable
Most common floor plan; strong rental demand
Space · River Views
Larger plans; upper floors capture river and Sierra views
Premium · Top Tier
Floor-to-ceiling views; 1,500+ sq ft units
Alternative Buildings
Other downtown high-rise options nearby
Outdoor & Urban Recreation
The Montage residents live at the center of downtown Reno's outdoor and cultural recreation — the Truckee River and Riverwalk at the doorstep, Wingfield Park concerts a half-block away, and Lake Tahoe 45 minutes by car. The City of Reno Parks & Recreation manages the riverfront amenities that make downtown one of the most recreation-rich urban addresses in Northern Nevada.
HALF A BLOCK
The Truckee River Riverwalk runs along the river through downtown — a tree-lined promenade lined with restaurants, galleries, and cafes, steps from the Montage lobby and a daily amenity for residents.
HALF A BLOCK
A small island park in the middle of the Truckee River hosting summer concerts, the Artown festival, and community events — plus the adjacent kayak park for whitewater paddling right downtown.
STEPS AWAY
An engineered whitewater course on the Truckee River in the heart of downtown — a rare urban paddling and tubing amenity within walking distance of The Montage.
5 MIN WALK
Greater Nevada Field, home of the Reno Aces (Triple-A baseball) and Reno 1868 events — a short walk from the building for game nights and concerts.
6 MIN
Reno's eclectic arts-and-dining district just south of downtown — independent restaurants, breweries, boutiques, and murals, easily reached on foot or by a short drive.
8 MIN
The state's flagship research university — Wolf Pack athletics, the Lawlor Events Center, lectures, and cultural programming, eight minutes north of The Montage.
10 MIN
Washoe County's largest regional park near UNR — trails, an arboretum, and the annual Great Reno Balloon Race, a short drive from downtown.
45 MIN
North America's largest alpine lake — skiing in winter and boating and beaches in summer, 45 minutes from The Montage via I-80 and NV-431 for weekend recreation.
The Montage Lifestyle
A Saturday at The Montage: morning coffee at the ground-floor cafe, a run on the Truckee River Riverwalk a half-block away per the City of Reno Parks & Recreation, a Wingfield Park concert in the afternoon, dinner in the Riverwalk District, and a Reno Aces game — all on foot, then Lake Tahoe 45 minutes away on Sunday.
THIS WEEKEND'S OPEN HOUSES
The Montage condos show by appointment — weekend open houses are uncommon in the downtown Reno high-rise market because the building requires secured entry. Contact Nevada Real Estate Group at (775) 277-2120 to schedule a private showing or request a video walkthrough. Set up instant alerts to get notified when a unit in your price range and on your preferred floor becomes available.
Budget around the specific home, not a community average. Before you compare the cost of a move to The Montage, get these in writing:
The full step-by-step relocation checklist, from timeline to first-week setup, is in one place.
Open the relocation guideECONOMY & JOBS
The Montage residents are walking distance from downtown Reno's professional core and minutes from the region's largest employers. According to the U.S. Bureau of Labor Statistics, Reno-Sparks MSA unemployment was 4.0% in July 2026 (BLS, preliminary) — driven by Renown Health, UNR, Tesla, and Switch, most within a short drive of the building.
Sources: U.S. Bureau of Labor Statistics, U.S. Census Bureau. Last updated June 2026.
TOWER COMPARISON
Choosing between downtown Reno condo towers? This table compares The Montage ($450K, full-service high-rise), Palladio ($650K, luxury riverfront), Arlington Towers ($280K, value high-rise), and the broader downtown Reno market ($420K). Metrics from NREG’s MLS analysis, the U.S. Census, and BLS Reno-Sparks MSA.
| Metric | The Montage | Palladio | Arlington Towers | Downtown Reno |
|---|---|---|---|---|
| Median List Price | $450K | $650K | $280K | $420K |
| Price / Sq Ft | ~$350 | ~$420 | ~$280 | ~$330 |
| Days on Market | 55 | 60 | 50 | 52 |
| HOA / Month | $650–$950 | $700–$1,100 | $400–$700 | Varies |
| Stories | 23 | ~14 | 22 | Varies |
| Building Type | High-Rise Condo | Luxury High-Rise | High-Rise Condo | Mixed Towers |
| Secured Entry | Yes (concierge) | Yes | Yes | Varies |
| To Riverwalk | ½ block | 2 blocks | Riverfront | Varies |
| Best For | Full-Service · Scale | Luxury · Pool | Value · Entry | Full Inventory |
Sources: NREG’s analysis of NNRMLS data, U.S. Census ACS. Last updated June 2026.
Build a property-specific budget using a lender quote, the parcel tax estimate, insurance quotes and association documents. The starting amounts below are editable illustrations, not current local rates or verified fees. Compare the result with your Loan Estimate, and budget separately for maintenance, utilities and closing costs.
Inputs are assumptions, not a loan offer, insurance quote or parcel tax calculation. This simplified fixed-rate example applies the selected PMI rate below 20% down; actual mortgage-insurance eligibility, cost and cancellation depend on the loan. Maintenance, utilities, closing costs and special assessments are additional. Review the CFPB housing budget guide and confirm amounts with the relevant providers.
BUYING AND RENTING
Compare actual homes that meet the same needs over your expected time in the area. A purchase price and an advertised rent alone do not establish which option costs less. Use current quotes and separate monthly cash flow, upfront cash, and the amount you might recover when moving.
Start with the down payment, lender and closing charges, and any immediate repairs. Add principal and interest, property taxes, insurance, mortgage insurance where applicable, association dues, utilities and ongoing maintenance. Identify expenses paid outside escrow so they are included in your household budget.
For a later sale, model the remaining loan balance and selling expenses. Appreciation is uncertain; compare unchanged-price and lower-price cases as well as any growth assumption. Principal repayment builds an ownership interest, but that does not guarantee a profit or make every cash payment recoverable.
Use an actual lease offer and confirm the term, deposit, renewal provisions, parking, pet charges, utilities and renter's insurance. Record which maintenance services are included and any costs or restrictions associated with an early move. An advertised starting rent may not include every required charge.
Keep the comparison consistent: use the same time period, household needs and moving assumptions. Include the cash that remains available when a down payment is not used, without assuming a guaranteed investment return. Your need for flexibility and responsibility for repairs also matter alongside the financial figures.
There is no verified community-wide holding period or five-year equity gain shown here. Ask your lender to explain financing assumptions and have a tax professional assess any claimed tax benefit for your circumstances. Keep a copy of the quotes and dates so you can update the comparison before making an offer.
PROPERTY-SPECIFIC ASSOCIATION COSTS
A community name does not establish a property's current dues or all the associations that govern it. Obtain the applicable resale package, budget and governing documents for the exact address. Confirm the effective date and payment frequency of each fee with the association or its manager.
Identify master and sub-association dues separately. Check whether utilities, exterior maintenance, insurance, amenities or club access are included, optional or billed separately. A listing's monthly figure may omit a quarterly or annual charge, and an advertised amenity does not establish membership rights.
Ask about transfer, document, capital-contribution and other transaction fees, as well as approved or proposed assessments. Confirm who pays each item under the contract. Review available reserve and budget information; historical dues are not a guarantee of future charges.
Verify the actual rules for leasing, pets, parking, property changes and amenity access. Age restrictions and gate staffing require their own current documentation. Do not assume neighboring subdivisions or similarly named communities have identical rules, services or fees.
COMMUTE & TRANSPORTATION
From The Montage, the downtown core is a 2-minute walk, UNR is 8 minutes, and Reno-Tahoe International Airport is 10 minutes via US-395. Many residents walk or bike for daily life and drive only for the airport, Tahoe, or suburban errands per U.S. Census ACS data — walkability is the building's defining transportation advantage.
Drive times are typical off-peak estimates for the route named; check live traffic before you rely on one.
Quick Answer
Most Montage condo purchases close in 30–45 days, while cash offers close in 7–14 days. The key gate is lender warrantability — financed purchases require the lender to approve the building first, the most common delay in high-rise condo deals. Confirm warrantability before writing your offer to avoid late surprises.
Quick Answer
Credit requirements at The Montage depend on the unit price and loan type. Entry studios and one-bedrooms under the 2026 conforming limit can be financed conventionally with a 620+ score (or 580+ with FHA, if the building is FHA-approved), typically with 3–5% down. Larger view units and penthouses above $832,750 require jumbo financing, which usually wants a 700+ credit score, 20% down, and cash reserves. In all cases, your lender must confirm the building's warrantability before final approval. Cash buyers face no credit requirement but should still budget 1–2% for closing costs.
The Montage FAQ — 18 Answers
The Montage condos trade from roughly $250,000 for compact studios to $1,500,000 or more for large penthouses, per Northern Nevada Regional MLS data for ZIP 89501. The current median list price in the building runs near $575,000 according to NREG’s analysis of NNRMLS data, with one- and two-bedroom homes making up most of the inventory — making The Montage one of the most accessible ways to own a true downtown Reno high-rise residence.
The Montage is the largest residential high-rise on the downtown Reno skyline — a 23-story full-service tower at 255 N. Sierra Street converted from the former Golden Phoenix hotel-casino between 2006 and 2008. Unlike low-rise riverfront condos, it offers secured building entry, concierge-style service, a fitness center, and a club lounge, with floor-to-ceiling windows on upper floors framing the Truckee River, Wingfield Park, and the Sierra Nevada. It is a single building, not a master plan.
The Montage offers roughly 370 condominium residences across 23 stories, spanning studio, one-, two-, and three-bedroom floor plans plus penthouses. Units range from compact studios near 587 square feet to expansive multi-bedroom homes and penthouses well over 1,500 square feet. Upper-floor residences feature floor-to-ceiling windows with river, park, mountain, and city-light views. All fall under a single building HOA covering most utilities, amenities, and 24-hour secured entry.
No — as a downtown high-rise, The Montage is not guard-gated, but it delivers comparable day-to-day security through secured building entry, controlled-access parking, and concierge-style service for residents. The lobby is staffed, elevators are key-controlled to resident floors, and the tower's vertical design adds a natural layer of access control that ground-level neighborhoods cannot match. Buyers who want a 24-hour staffed-gate model in Reno should look at gated single-family communities such as ArrowCreek or Montreux.
HOA dues at The Montage typically run about $650 to $950 per month depending on unit size, since full-service towers charge by square footage. Dues generally cover water, sewer, trash, gas, building amenities, secured entry, and common-area maintenance — a major part of what makes the building a true lock-and-leave residence. Contact Nevada Real Estate Group at (775) 277-2120 for current dues on any specific listing; always request the HOA budget, reserve study, and any pending special assessments during escrow.
The Montage offers a fitness center, a club lounge, secured building entry, controlled-access parking, and concierge-style service for residents. Ground-floor retail, a coffee shop, and restaurant space sit beneath the tower, so daily conveniences are an elevator ride away. The building's defining amenity is its location: the Truckee River Riverwalk, Wingfield Park, Midtown Reno, and the Reno Aces ballpark are all within walking distance. Confirm which specific amenities are active and any usage rules during your due-diligence period.
The Montage is in the Washoe County School District, which serves downtown Reno (ZIP 89501). Downtown attendance boundaries can vary block by block, so families should verify their specific elementary, middle, and high school assignment for 255 N. Sierra Street directly with the Washoe County School District at enrollment. The Davidson Academy (gifted, on the UNR campus) and Coral Academy of Science are regional charter alternatives a short drive away for qualifying students.
The Montage is among the most walkable addresses in Northern Nevada. From the lobby, the Truckee River Riverwalk and Wingfield Park are a half-block away, with downtown dining, cafes, casinos, the Reno Aces ballpark, and the cultural district all within a few blocks. The University of Nevada, Reno is about eight minutes north, and the kayak park sits steps from the building — residents routinely run errands, dine, and enjoy concerts entirely on foot.
Property taxes at The Montage fall under Washoe County's jurisdiction. Nevada's effective property-tax rate runs roughly 0.5–0.7% of market value, and the state caps annual increases on a primary residence at 3% under Nevada Revised Statutes 361.4723 once the owner claims it (homes that are not owner-occupied get a cap of up to 8%). On a $575,000 Montage condo, the annual tax bill typically runs approximately $2,880–$4,030 per Washoe County Assessor data. Nevada also levies no state income tax, a meaningful advantage for professionals, downsizers, and California relocators choosing a downtown Reno address.
Short-term rentals at The Montage are governed by City of Reno ordinance and the building's HOA CC&Rs — many downtown condo associations restrict or prohibit nightly rentals, and some require owner-occupancy or minimum lease terms. Before purchasing a Montage condo as an investment, verify the City of Reno short-term rental permit rules for the address and review the building's CC&Rs and rental cap. Long-term leasing is more commonly permitted, but confirm the current rental policy and any waitlist with the HOA first.
Inventory at The Montage turns over at a measured pace — the building holds roughly 370 units, and only a handful are typically listed at any time. Per NNRMLS data for ZIP 89501, well-priced downtown Reno condos in the entry-to-mid range generally go under contract in around 55 days, while larger view-floor units and penthouses can take two to four months. When a Montage unit is priced correctly for its floor and view, demand from downsizers, professionals, and second-home buyers can move it quickly.
The Montage offers an accessible entry into downtown Reno high-rise ownership — an irreplaceable riverfront skyline address with secured entry and full amenities at a price floor near $250,000. Downtown Reno's ongoing revitalization, the limited supply of true high-rise residences, and Nevada's zero state income tax support the long-run case. Buyers planning a 5+ year hold benefit from appreciation potential and steady long-term rental demand from UNR, Renown Health, and downtown employers — subject to HOA rental-policy verification before buying.
The Montage is downtown Reno's largest residential high-rise at 23 stories and roughly 370 units, with a broad $250K–$1.5M+ range. Palladio is a newer, smaller luxury riverfront tower with an infinity pool, generally priced from the high $300Ks. Arlington Towers and the former-Comstock Riverwalk Towers offer lower entry pricing in established buildings. The Montage's scale, amenity package, and Sierra Street position give it the most turnkey full-service profile of the downtown towers.
At a $575,000 Montage purchase with 20% down at 7% interest, principal and interest runs approximately $2,395/month. Add Washoe County property tax of roughly $225–$265/month, HOA dues of $650–$950/month (which cover most utilities), and homeowners insurance. Total monthly carrying costs for a financed purchase typically run $3,500–$4,000 before factoring Nevada's zero state income tax savings. The HOA bundling of water, sewer, trash, and gas means your separately billed utilities are minimal compared with a single-family home.
Before writing an offer on any Montage condo, request the full HOA document package: CC&Rs, bylaws, the past two years of meeting minutes, the reserve fund study, the current operating budget, and any pending or recently levied special assessments. High-rise towers carry significant building-envelope, elevator, and mechanical reserve obligations, so a reserve fund below 70% funded is a yellow flag. Confirm the master hazard insurance policy on the structure and verify the building's lender warrantability if you are financing.
The Montage spans a wide price range, so financing varies. Entry studios and one-bedrooms near $250,000–$400,000 fall under the 2026 conforming loan limit, where conventional financing can go as low as 3–5% down for qualified buyers, or 3.5% with FHA if the building is FHA-approved. Larger view units and penthouses above $832,750 require jumbo financing, typically 20% down with a 700+ credit score. Because this is a condo tower, your lender must also confirm the building is warrantable. Call Nevada Real Estate Group at (775) 277-2120 to confirm current programs for The Montage.
The Montage is one of the strongest lock-and-leave propositions in Northern Nevada. HOA dues cover most utilities and all exterior and common-area maintenance, secured entry and concierge service handle access while you travel, and the walkable downtown location means no car is needed for daily life. Downsizers leaving a single-family home gain a turnkey residence with skyline and river views, and professionals get a maintenance-free base steps from work and dining. Confirm the building's lock-and-leave policies and any extended-absence notification rules with the HOA.
Yes — Nevada Real Estate Group represents buyers and sellers throughout downtown Reno, including The Montage. Our agents prepare a custom CMA using NNRMLS closed data specific to the building and ZIP 89501, and we know the HOA structure, warrantability requirements, and floor-by-floor view premiums that drive value in the tower. We have the buyer network to reach professionals, downsizers, and relocating buyers targeting downtown Reno. Call (775) 277-2120 or submit the form below for a no-obligation consultation.
Updated November 2026
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PEOPLE ALSO ASK
Beyond the main FAQ, these are the questions Montage buyers most frequently type into Google and AI assistants — each answered with verifiable specifics: prices sourced from the NREG’s MLS analysis, HOA dues from building records, amenity details from the community profile, and GreatSchools 2026 school ratings.
The Montage offers an accessible entry into downtown Reno high-rise ownership — a structurally limited supply of true full-service towers. Downtown revitalization, steady long-term rental demand from UNR and Renown Health, Nevada zero state income tax, and the 3% property-tax cap under NRS 361.4723 create favorable long-term ownership math. Buyers planning 5+ year holds have historically seen firm appreciation in ZIP 89501 — verify the building HOA rental policy before buying as an investment.
The Montage is a 23-story high-rise condominium tower at 255 N. Sierra Street in downtown Reno, Nevada — the largest residential high-rise on the skyline, converted from the former Golden Phoenix hotel-casino between 2006 and 2008. It holds roughly 370 condos from studios to penthouses, with secured entry, concierge service, a fitness center, and a club lounge, a half-block from the Truckee River Riverwalk.
Short-term rentals at The Montage are subject to two layers of rules: (1) City of Reno short-term rental ordinance — downtown rules and permit availability apply to the specific address; (2) the building HOA CC&Rs — many downtown towers restrict or prohibit nightly rentals and may impose a rental cap or minimum lease term. Both must be verified before purchasing as a vacation-rental investment. Long-term leasing is more commonly permitted, but confirm the current building rental policy first.
The Montage offers secured building entry, controlled-access parking, a fitness center, a club lounge, and concierge-style service. Ground-floor retail, a coffee shop, and restaurant space sit beneath the tower. The building's amenity advantage is also its location — the Truckee River Riverwalk, Wingfield Park, Midtown, the Reno Aces ballpark, and the cultural district are all within walking distance, and UNR plus the airport are minutes away.
The Montage stands 23 stories tall with roughly 370 condominium residences — the largest residential high-rise on the downtown Reno skyline. Floor plans span studios near 587 square feet up to penthouses well over 1,500 square feet. Upper floors carry floor-to-ceiling windows framing the Truckee River, Wingfield Park, the Sierra Nevada, and downtown city lights.
Upper-floor units command premium pricing for floor-to-ceiling views of the Truckee River, Wingfield Park, the Sierra Nevada, and downtown city lights — these are the $850K–$1.5M+ penthouses and large two-bedrooms. Entry studios and one-bedrooms in the $250K–$480K range offer the most accessible downtown high-rise ownership. Within each tier, south- and west-facing units with river or sunset exposure are the most sought-after.
For buyers who want walkability, full-service amenities, and a maintenance-free urban base, The Montage and downtown Reno are uniquely positioned — no suburban community matches the Riverwalk-at-your-door lifestyle. For buyers who prioritize single-family space, yards, and assigned suburban schools, South Reno master plans like Damonte Ranch offer strong value at $600K–$700K versus the Montage's $250K–$1.5M+ condo range.
Financing a Montage condo is straightforward once the building is confirmed warrantable by your lender — the single most important step in any high-rise condo deal. Entry units under the conforming limit can use conventional or FHA loans (if the building is FHA-approved); larger units above $832,750 require jumbo financing with stronger credit and reserves. Work with a lender experienced in downtown Reno high-rises, and confirm the building's warrantability before writing your offer to avoid late surprises.
WHY NEVADA REAL ESTATE GROUP
Deep knowledge of downtown Reno high-rise towers — HOA structures, building warrantability, City of Reno rental rules, and floor-by-floor view premiums — plus 150+ licensed agents and 9,097+ verified five-star reviews. With 9,600+ closed transactions and $4.85B+ in total volume, Nevada Real Estate Group ranks #1 in Nevada, covering every Montage tier from entry studios to view-floor penthouses.
WORK WITH THE BEST
Tell the team about your preferred area, budget, timing and property requirements. Ask about representation and the records needed to evaluate a particular home. Review current listings, comparable sales and the written terms of any services before deciding how to proceed. Contacting the team does not guarantee a purchase, sale price or response deadline.
NEARBY TOWERS & COMMUNITIES
Compare The Montage with neighboring downtown Reno towers and nearby communities. Each card pairs the walk or drive time to The Montage with the building's price positioning, so you can judge whether an adjacent building or neighborhood buys you a meaningfully different lifestyle.
More Reno communities
Shopping the whole city? Browse all Reno homes for sale — live MLS listings updated daily.
A–Z INDEX
Key downtown Reno towers and Northern Nevada communities — from The Montage high-rise condos to Midtown's arts district to South Reno master plans. Every linked entry opens a dedicated page with current NNRMLS listings, price ranges, and building or community details for that specific area.
KEEP LEARNING
These guides extend the research most Montage buyers do next — comparing other downtown Reno towers, exploring the broader downtown condo market, and reviewing Northern Nevada community data — each written from the same NNRMLS data and primary sources used throughout this page.
GUIDE
Newer luxury riverfront high-rise with an infinity pool and higher-end finishes, two blocks south of The Montage — a step up in price and luxury.
Read →GUIDE
The full downtown Reno condo and loft market — high-rise towers, riverfront conversions, and lofts from $200K to $1.5M+ along the Truckee River.
Read →MARKET REPORT
Truckee Meadows and Northern Nevada market data, neighborhood comparisons, and every Reno and Lake Tahoe community page in one place.
Read →RELOCATION GUIDE
The Northern Nevada move playbook — taxes, cost of living, and neighborhoods.
Read →LIVING GUIDE
Jobs, cost, weather, and lifestyle for anyone weighing a move to Reno.
Read →Sources & Methodology
Every statistic on this page is sourced from a primary or government dataset, and we refresh these numbers monthly. The organizations below — from the U.S. Census Bureau to the NREG’s analysis of NNRMLS data — supply the underlying data; follow any link to verify a figure or pull deeper detail than we publish here.
Methodology: Listing counts, prices and days on market are NREG's analysis of Northern Nevada Regional MLS data received through the Repliers feed; this page refreshes them about once a day, and each market figure carries its date or window. Census and BLS figures are the published vintage named beside them and change only when the agency releases new estimates. Confirm details for a specific home with its listing and the responsible agency.
Updated: November 2026 · Next update: November 15