Nevada Housing Market Prices
Nevada 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 44% above the US median More expensive than 76% of states in US$357,758
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Median rent 14% above the US median More expensive than 80% of states in US$1,597
Median Home Price Map: Counties in Nevada
Housing Market Overview
| Metric | Nevada | US Average |
|---|---|---|
| Median Home Price | $357,758 | $248,835 |
| Price Trend (Annual %) | 9.4% | 7.5% |
| Median Gross Rent | $1,597 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Nevada is about 44% higher than in US. Rent is about 14% higher than the US 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 Nevada, up about 9.4% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Nevada rose about 64.3% between 2015 and 2024, from $972 to $1,597. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in Nevada.
Buying the median-priced home in Nevada costs roughly 18.7 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 Nevada. The price-to-rent ratio in US is about 14.7.
| Metric | Nevada | US Average |
|---|---|---|
| Median Home Price | $357,758 | $248,835 |
| Median Household Income | $78,637 | $80,455 |
| Price-to-Income Ratio | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Nevada rose about 141.4%, while median household income rose about 35.6% 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 | Nevada | US Average |
|---|---|---|
| Homeownership Rate | 54.4% | 58.5% |
| Rental Rate | 36.3% | 31.2% |
| Vacancy Rate | 9.3% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 |
Nevada has a homeownership rate of 54.4%, lower than the US average of 58.5%. Its housing vacancy rate is 9.3%, compared with 10.2% in US.
Housing Stock
| Metric | Nevada | US Average |
|---|---|---|
| Average Household Size | 2.62 people | 2.53 people |
| Median Structure Built Year | 1993 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 |
The typical housing unit in Nevada was built around 1993. On average, 2.6 people live in a home with about 5.3 rooms, staying for about 12.0 years on average.
Nevada Housing Compared With Nearby States
Nevada is the 5th largest of the 6 states compared here, 3,183,702 residents against a local median of 4,252,306. Nothing separates Nevada sharply from the states around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median home price, 12% below the local median at $357,758 against $406,603. Nevada has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Nevada | 3,183,702 | $357,758 #6/6 | $1,597 #2/6 | 60.0% #5/6 |
| California | 39,245,658 | $650,794 | $2,036 | 55.9% |
| Utah | 3,390,702 | $498,552 | $1,495 | 70.3% |
| Idaho | 1,929,983 | $394,140 | $1,236 | 72.3% |
| Oregon | 4,252,306 | $406,603 | $1,525 | 63.3% |
| Arizona | 7,356,359 | $367,851 | $1,543 | 67.4% |
Frequently Asked Questions
Common questions about the housing market in Nevada.
What is the median home price in Nevada?
The median home price in Nevada is $357,758, higher than the US average of $248,835.
What is the average home price in Nevada?
The typical home price in Nevada, reported as the median sale price, is $357,758. 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 Nevada?
The median gross rent in Nevada is $1,597 per month, higher than the US average of $1,407.
What was the median gross rent in Nevada in 2020?
In 2020, the median gross rent in Nevada was $1,159 per month.
What is the price-to-rent ratio in Nevada?
The price-to-rent ratio in Nevada is about 18.7, meaning it would take roughly 18.7 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 Nevada.
Are home prices or rent rising faster in Nevada?
Both home prices and rent are rising in Nevada, up about 9.4% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Nevada?
54.4% of households in Nevada own their home, lower than the US average of 58.5%.
What is the vacancy rate in Nevada?
The housing vacancy rate in Nevada is 9.3%, lower than the US average of 10.2%.
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