I live 50 miles from Reno, in California. The "new" Reno is building west and north of town, into the mtns, and both sides of highway 80 the last few years. Decent standard of living can be had. Nice homes can be pricey but $375k to $450k gets you a nice 2200 ft. in a good area. Dont know anything about schools, (no kids here).
The thing I dont like is the number of days where the wind whips thru there at 25+ mph! Gets downright cold in winter but 8 months of the year it is pretty nice. Warm 90 degree summers. Downtown undergoing a much needed re-juvination, with old , dead casinos being converted into condos. Indian gaming in California has taken a visible toll on the towns gaming prosperity. But other industry is flourishing due to low( and no) tax structure and cheap labor pool. Some good golf courses, and skiing in area, as well as fishing, and hunting in the state. Lake Tahoe is 1 hr drive in summer, tougher in winter when snow on ground.
Some very nice communitys in small towns south of Reno should be explored too, like Virginia Hills.....Gold Hill, and Minden and Gardnerville (all of which are about halfway between Reno and South Lake Tahoe, but closer to Tahoe. Common elevations are 4800 to 5500 ft. and higher in the surrounding hills of Reno, and property values can fluctuate in a wide range in a short distance.