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 | Pershing County | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $338,659 | $242,182 |
| Price Trend (Annual %) | 31.1% | 9.9% | 8.2% |
| Median Gross Rent | $667 | $1,488 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pershing County is about 34% lower than in Nevada. Rent is about 55% lower than the Nevada average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Pershing County, up about 31.1% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Pershing County rose about 9.8% between 2015 and 2023, from $607 to $667. Over the same span, rent in Nevada rose about 53.1%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Pershing County.
Buying the median-priced home in Pershing County costs roughly 28.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pershing County. The price-to-rent ratio in Nevada is about 19.0.
| Metric | Pershing County | Nevada Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $338,659 | $242,182 |
| Median Household Income | $72,486 | $75,608 | $78,145 |
| Price-to-Income Ratio | 3.1 | 4.5 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2023, the median home price in Pershing County rose about 279.5%, while median household income rose about 40.2% between 2009 and 2023 — 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 | Pershing County | Nevada Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.8% | 53.7% | 58.2% |
| Rental Rate | 20.7% | 36.8% | 31.3% |
| Vacancy Rate | 19.5% | 9.5% | 10.6% |
| Median Tenure (years) | 17.0 | 12.0 | 15.0 |
| Median Year Moved In | 2009 | 2014 | 2011 |
Pershing County has a homeownership rate of 59.8%, higher than the Nevada average of 53.7%. Its housing vacancy rate is 19.5%, compared with 9.5% in Nevada.
Housing Stock
| Metric | Pershing County | Nevada Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.62 people | 2.54 people |
| Median Structure Built Year | 1993 | 1993 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in Pershing County was built around 1993. On average, 2.5 people live in a home with about 5.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pershing County, Nevada.
What is the median home price in Pershing County, Nevada?
The median home price in Pershing County, Nevada is $225,000, lower than the Nevada average of $338,659.
What is the average home price in Pershing 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 Pershing County, Nevada?
The median gross rent in Pershing County, Nevada is $667 per month, lower than the Nevada average of $1,488.
What was the median gross rent in Pershing County in 2020?
In 2020, the median gross rent in Pershing County, Nevada was $580 per month.
What is the price-to-rent ratio in Pershing County, Nevada?
The price-to-rent ratio in Pershing County, Nevada is about 28.1, meaning it would take roughly 28.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pershing County.
Are home prices or rent rising faster in Pershing County, Nevada?
Both home prices and rent are rising in Pershing County, up about 31.1% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pershing County, Nevada?
59.8% of households in Pershing County, Nevada own their home, higher than the Nevada average of 53.7%.
What is the vacancy rate in Pershing County, Nevada?
The housing vacancy rate in Pershing County, Nevada is 19.5%, higher than the Nevada average of 9.5%.