Estimated Monthly Payment — Median Nevada Home
$2,778
Based on $420,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$420,000
Property Tax
0.6%
Avg. HOA
$225/mo
Median Rent
$1,500/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Nevada housing market
Nevada's housing market is moderately priced for the region, with a median home price around $420,000. Las Vegas is the largest metro, with Henderson a close second. Nevada has no state income tax and relatively low property taxes, though Las Vegas home prices have risen sharply with California in-migration. Nevada's effective property tax rate of 0.6% is below the national average.
The median Nevada home costs $420,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $2,168, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $2,778. First-time buyers in Nevada can explore programs through Nevada HFA.
Photo by Nils Huenerfuerst on Unsplash
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FAQ
Nevada mortgage FAQs
What's the property tax rate in Nevada?
Nevada's effective property tax rate averages about 0.6% — below the national average. On a $420,000 home, that's roughly $210/month or $2,520/year.
How much do I need to earn to afford a typical Nevada home?
Using the 28/36 rule, a buyer would need roughly $104,000–$133,000 in gross annual income to comfortably afford Nevada's $420,000 median home with 20% down at current rates.
What first-time buyer programs are available in Nevada?
Nevada Housing Division offers the Home is Possible program with 4% down payment assistance and Home First Down Payment Assistance for first-time buyers up to $15,000. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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