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These days, finding an affordable place to live in the Nevada area can be challenging. Home prices in Nevada are now at a median cost of $441,980, higher than the the United States average of $419,293.
The average cost of rent is $1,787/mo in Nevada, primarily driven by the current value of real estate in the Nevada area. In Nevada, 40.03% of households rent, and 35.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Nevada is $7,338 per month. Households that rent pay about 24.35% of their income on rent here. Nevada’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- Tennessee: less expensive homes
- Massachusetts: higher priced homes
- Michigan: less expensive homes
- Minnesota: less expensive homes
- Mississippi: less expensive homes
- Missouri: less expensive homes
- Nebraska: less expensive homes
- Rhode Island: equally priced homes
- South Dakota: less expensive homes
- Alaska: less expensive homes
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