Paradise, Nevada Housing Market Prices
Paradise 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 11% below the Nevada median$316,809
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Median rent 14% below the Nevada median$1,367
Housing Market Overview
| Metric | Paradise | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $316,809 | $357,758 | $248,835 |
| Price Trend (Annual %) | 12.3% | 9.4% | 7.5% |
| Median Gross Rent | $1,367 | $1,597 | $1,407 |
| Rent Trend (Annual %) | 6.1% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Paradise is about 11% lower than in Nevada. Rent is about 14% lower than 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 Paradise, up about 12.3% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Paradise rose about 62.9% between 2015 and 2024, from $840 to $1,367. Over the same span, rent in Nevada rose about 64.3%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Paradise.
Buying the median-priced home in Paradise costs roughly 19.3 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 Paradise. The price-to-rent ratio in Nevada is about 18.7.
| Metric | Paradise | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $316,809 | $357,758 | $248,835 |
| Median Household Income | $58,596 | $78,637 | $80,455 |
| Price-to-Income Ratio | 5.4 | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Paradise rose about 156.9%, while median household income rose about 22.2% 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 | Paradise | Nevada Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 33.2% | 54.4% | 58.5% |
| Rental Rate | 47.5% | 36.3% | 31.2% |
| Vacancy Rate | 19.3% | 9.3% | 10.2% |
| Median Tenure (years) | 11.0 | 12.0 | 15.0 |
| Median Year Moved In | 2015 | 2014 | 2011 |
Paradise has a homeownership rate of 33.2%, lower than the Nevada average of 54.4%. Its housing vacancy rate is 19.3%, compared with 9.3% in Nevada.
Housing Stock
| Metric | Paradise | Nevada Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.62 people | 2.53 people |
| Median Structure Built Year | 1986 | 1993 | 1978 |
| Median Number of Rooms | 4.1 | 5.3 | 5.5 |
The typical housing unit in Paradise was built around 1986. On average, 2.4 people live in a home with about 4.1 rooms, staying for about 11.0 years on average.
Paradise, NV Housing Compared With Nearby Cities
Paradise, NV is typical in size for this group, 186,450 residents against a local median of 191,359, so the measures below are close to a like for like comparison. Paradise, NV's homeownership, at 41.1%, runs 19% below the 50.8% typical of the cities around it. That is the weaker end of the local range on this measure.
The cities themselves spread 29.0% on homeownership, so Paradise, NV sits at one end of an already wide local range rather than apart from it. Paradise, NV has the 5th highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Paradise, NV | 186,450 | $316,809 #3/6 | $1,367 #5/6 | 41.1% #5/6 |
| Winchester, NV | 36,180 | $250,924 | $1,220 | 33.0% |
| Whitney, NV | 38,569 | $299,977 | $1,540 | 57.9% |
| Enterprise, NV | 221,670 | $460,793 | $1,911 | 62.1% |
| Sunrise Manor, NV | 191,359 | $288,848 | $1,397 | 50.8% |
| Spring Valley, NV | 217,800 | $378,472 | $1,740 | 50.3% |
Frequently Asked Questions
Common questions about the housing market in Paradise, Nevada.
What is the median home price in Paradise, Nevada?
The median home price in Paradise, Nevada is $316,809, lower than the Nevada average of $357,758.
What is the average home price in Paradise, Nevada?
The typical home price in Paradise, Nevada, reported as the median sale price, is $316,809. 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 Paradise, Nevada?
The median gross rent in Paradise, Nevada is $1,367 per month, lower than the Nevada average of $1,597.
What was the median gross rent in Paradise in 2020?
In 2020, the median gross rent in Paradise, Nevada was $987 per month.
What is the price-to-rent ratio in Paradise, Nevada?
The price-to-rent ratio in Paradise, Nevada is about 19.3, meaning it would take roughly 19.3 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 Paradise.
Are home prices or rent rising faster in Paradise, Nevada?
Both home prices and rent are rising in Paradise, up about 12.3% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Paradise, Nevada?
33.2% of households in Paradise, Nevada own their home, lower than the Nevada average of 54.4%.
What is the vacancy rate in Paradise, Nevada?
The housing vacancy rate in Paradise, Nevada is 19.3%, higher than the Nevada average of 9.3%.
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