Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Esmeralda County | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,856 | $338,659 | $242,182 |
| Price Trend (Annual %) | -1.5% | 9.9% | 8.2% |
| Median Gross Rent | $1,319 | $1,488 | $1,342 |
| Rent Trend (Annual %) | 16.9% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Esmeralda County is about 86% lower than in Nevada. Rent is about 11% lower than the Nevada average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2019
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Esmeralda County: home prices fell about 1.5% a year while rent rose about 16.9% a year. That is an unusual pattern worth watching.
Median rent in Esmeralda County rose about 195.0% between 2015 and 2023, from $447 to $1,319. Over the same span, rent in Nevada rose about 53.1%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Esmeralda County.
Buying the median-priced home in Esmeralda County costs roughly 3.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Esmeralda County. The price-to-rent ratio in Nevada is about 19.0.
| Metric | Esmeralda County | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,856 | $338,659 | $242,182 |
| Median Household Income | $34,356 | $75,608 | $78,145 |
| Price-to-Income Ratio | 1.4 | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2019, the median home price in Esmeralda County fell about 48.8%, while median household income fell about 22.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Esmeralda County | Nevada Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 32.3% | 53.7% | 58.2% |
| Rental Rate | 35.5% | 36.8% | 31.3% |
| Vacancy Rate | 32.2% | 9.5% | 10.6% |
| Median Tenure (years) | 13.0 | 12.0 | 15.0 |
| Median Year Moved In | 2013 | 2014 | 2011 |
Esmeralda County has a homeownership rate of 32.3%, lower than the Nevada average of 53.7%. Its housing vacancy rate is 32.2%, compared with 9.5% in Nevada.
Housing Stock
| Metric | Esmeralda County | Nevada Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.94 people | 2.62 people | 2.54 people |
| Median Structure Built Year | 1989 | 1993 | 1978 |
| Median Number of Rooms | 4.1 | 5.3 | 5.5 |
The typical housing unit in Esmeralda County was built around 1989. On average, 1.9 people live in a home with about 4.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Esmeralda County, Nevada.
What is the median home price in Esmeralda County, Nevada?
The median home price in Esmeralda County, Nevada is $47,856, lower than the Nevada average of $338,659.
What is the average home price in Esmeralda County, Nevada?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Esmeralda County, Nevada?
The median gross rent in Esmeralda County, Nevada is $1,319 per month, lower than the Nevada average of $1,488.
What was the median gross rent in Esmeralda County in 2020?
In 2020, the median gross rent in Esmeralda County, Nevada was $700 per month.
What is the price-to-rent ratio in Esmeralda County, Nevada?
The price-to-rent ratio in Esmeralda County, Nevada is about 3.0, meaning it would take roughly 3.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Esmeralda County.
Are home prices or rent rising faster in Esmeralda County, Nevada?
Home prices and rent are moving in opposite directions in Esmeralda County: home prices fell about 1.5% a year while rent rose about 16.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Esmeralda County, Nevada?
32.3% of households in Esmeralda County, Nevada own their home, lower than the Nevada average of 53.7%.
What is the vacancy rate in Esmeralda County, Nevada?
The housing vacancy rate in Esmeralda County, Nevada is 32.2%, higher than the Nevada average of 9.5%.