Fernley, Nevada Housing Market Prices
Fernley Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 5% below the Nevada median$340,251
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Median rent About the same as the Nevada median$1,594
Housing Market Overview
| Metric | Fernley | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $340,251 | $357,758 | $248,835 |
| Price Trend (Annual %) | 18.6% | 9.4% | 7.5% |
| Median Gross Rent | $1,594 | $1,597 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fernley is about 5% lower than in Nevada. Rent follows a similar pattern, running close to the Nevada average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fernley, up about 18.6% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Fernley rose about 67.2% between 2015 and 2024, from $953 to $1,594. Over the same span, rent in Nevada rose about 64.3%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Fernley.
Buying the median-priced home in Fernley costs roughly 17.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Fernley. The price-to-rent ratio in Nevada is about 18.7.
| Metric | Fernley | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $340,251 | $357,758 | $248,835 |
| Median Household Income | $85,088 | $78,637 | $80,455 |
| Price-to-Income Ratio | 4.0 | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fernley rose about 257.8%, while median household income rose about 50.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fernley | Nevada Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.2% | 54.4% | 58.5% |
| Rental Rate | 26.9% | 36.3% | 31.2% |
| Vacancy Rate | 3.9% | 9.3% | 10.2% |
| Median Tenure (years) | 10.0 | 12.0 | 15.0 |
| Median Year Moved In | 2016 | 2014 | 2011 |
Fernley has a homeownership rate of 69.2%, higher than the Nevada average of 54.4%. Its housing vacancy rate is 3.9%, compared with 9.3% in Nevada.
Housing Stock
| Metric | Fernley | Nevada Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.62 people | 2.53 people |
| Median Structure Built Year | 1999 | 1993 | 1978 |
| Median Number of Rooms | 5.6 | 5.3 | 5.5 |
The typical housing unit in Fernley was built around 1999. On average, 2.8 people live in a home with about 5.6 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fernley, Nevada.
What is the median home price in Fernley, Nevada?
The median home price in Fernley, Nevada is $340,251, lower than the Nevada average of $357,758.
What is the average home price in Fernley, Nevada?
The typical home price in Fernley, Nevada, reported as the median sale price, is $340,251. 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 Fernley, Nevada?
The median gross rent in Fernley, Nevada is $1,594 per month, about the same as the Nevada average.
What was the median gross rent in Fernley in 2020?
In 2020, the median gross rent in Fernley, Nevada was $1,215 per month.
What is the price-to-rent ratio in Fernley, Nevada?
The price-to-rent ratio in Fernley, Nevada is about 17.8, meaning it would take roughly 17.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Fernley.
Are home prices or rent rising faster in Fernley, Nevada?
Both home prices and rent are rising in Fernley, up about 18.6% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fernley, Nevada?
69.2% of households in Fernley, Nevada own their home, higher than the Nevada average of 54.4%.
What is the vacancy rate in Fernley, Nevada?
The housing vacancy rate in Fernley, Nevada is 3.9%, lower than the Nevada average of 9.3%.
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