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Sarah Mitchell
Compass Real Estate · Nevada
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Nevada housing market
Nevada housing market summary
The typical home in Nevada is worth $442,027, down 1.8% over the past year. Homes that actually closed went for a median of $481,200 after 52 days on market. On supply, pricing discipline, and speed of sale, Nevada currently reads as a balanced market at 3.7 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $2,360 a month in principal and interest with 20.0% down.
Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026
Nevada housing market at a glance
Every tile carries the provider and the month it was published
Typical home value
$442,027
-1.8% YoY · Zillow, August 2026
Median sale price
$481,200
Redfin, through May 2026
Typical asking rent
$1,889/mo
Median of 17 cities · Zillow, August 2026
30-yr fixed rate
7.03%
Freddie Mac via FRED, September 2026
Monthly P&I
$2,360
20.0% down, 30-yr fixed
Days on market
52
+5 days YoY
Active listings
13,419
-9.9% YoY
Median household income
$75,561
U.S. Census ACS, 2023
Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
Where Nevada home prices are heading
Nevada's typical home value is $442,027, down 1.8% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are currently 3.2% below their two-year high, which means sellers who bought at the top may need to bring money to closing rather than take equity out of it.
Against the national picture, Nevada runs 19.9% above the U.S. typical home value of $368,697, and its 12-month move of -1.8% is trailing the national pace of +1.2%.
What would have to change for Nevada prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Nevada is carrying 3.7 months of supply — below the four-month line, so inventory would have to roughly double before sellers lose pricing power. Active listings are -9.9% year over year and new listings -10.6%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.
Market trends
Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
What it costs to buy in Nevada at today's rate
Down payment
$88,405
20.0% of value
Loan amount
$353,622
30-yr fixed
Monthly P&I
$2,360
at 7.03%
Income needed
$101,143
28.0% front-end ratio
A buyer purchasing the typical Nevada home at $442,027 puts $88,405 down, finances $353,622, and pays $2,360 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.
Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $101,143. Nevada's median household earns $75,561 (Census ACS 2023) — a gap of $25,582 above what the median household brings in. Put differently, the median household would spend 37.5% of gross income on principal and interest alone — above the ratio most lenders underwrite to, which is why buyers here typically need a larger down payment, a co-borrower, or a cheaper city than the statewide typical home.
The value-to-income ratio in Nevada is 5.8x. Anything above 5x means prices have run well ahead of local earnings; buyers are relying on dual incomes, prior equity, or outside capital rather than local wages. Model your own numbers in the affordability calculator or the mortgage calculator.
Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023
Buying in Nevada in the next 12 months?
Tell us your timeline. We send the Nevada market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.
Rent or buy in Nevada?
Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 17 largest Nevada cities that carry it: $1,889 a month. Set against a typical home value of $442,027, that is a price-to-rent ratio of 19.5x.
Between 15x and 20x the two options are close enough that the tiebreaker is how long you stay, not the ratio itself. Principal and interest on the typical home runs $471 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.
For a second read on the same question, the Census ACS puts median gross rent across all Nevada households — every unit type, not just what is currently listed — at $1,489 a month (2023), with 59.3% of Nevada households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.
Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.
Supply: what is on the market in Nevada
| Measure | Latest | Year earlier | Change |
|---|---|---|---|
| Active listings | 13,419 | 14,892 | -9.9% |
| New listings | 4,969 | 5,558 | -10.6% |
| Homes sold | 3,607 | 3,669 | -1.7% |
| Months of supply | 3.7 | 4.1 | -0.4 |
| Sale-to-list ratio | 98.5% | 98.4% | Below asking |
What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.
Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.
Where Nevada home values are moving fastest
12-month change in typical home value · Zillow, August 2026
Rising fastest
- 1.Glenbrook+17.5%
- 2.Zephyr Cove+11.8%
- 3.Searchlight+7.2%
- 4.Silver Springs+4.9%
- 5.Incline Village+4.8%
- 6.Yerington+4.2%
- 7.Genoa+3.8%
- 8.West Wendover+3.6%
Falling
- 1.Tonopah-11.3%
- 2.Mount Charleston-6.1%
- 3.Stateline-3.8%
- 4.Laughlin-3.7%
- 5.Las Vegas-3.4%
- 6.Henderson-2.9%
- 7.Mesquite-2.8%
- 8.North Las Vegas-2.2%
Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 87 largest Nevada cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.
The most and least expensive cities in Nevada
Typical home value across the 87 largest cities · Zillow, August 2026
Most expensive
- 1.Glenbrook$3.02M
- 2.Zephyr Cove$1.54M
- 3.Incline Village$1.53M
- 4.Genoa$1.19M
- 5.Verdi$821,966
- 6.Stateline$768,271
- 7.Minden$707,312
- 8.Gardnerville$612,502
- 9.Reno$573,360
- 10.Mount Charleston$547,676
Most affordable
- 1.Tonopah$155,628
- 2.Carlin$217,710
- 3.Eureka$219,177
- 4.Wells$225,156
- 5.Laughlin$252,305
- 6.Searchlight$279,973
- 7.West Wendover$307,463
- 8.Yerington$317,060
- 9.Winnemucca$355,630
- 10.Silver Springs$360,689
The spread between Glenbrook and Tonopah is 19.4x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Zephyr Cove was the quickest of these markets to clear at 20 days on market (Redfin, through May 2026).
How Nevada compares
| Market | Typical value | 12-mo change | Median income | Value / income |
|---|---|---|---|---|
| Nevada | $442,027 | -1.8% | $75,561 | 5.8x |
| United States | $368,697 | +1.2% | — | — |
| California | $764,158 | +0.4% | $96,334 | 7.9x |
| Arizona | $417,990 | -1.1% | $76,872 | 5.4x |
| Utah | $534,582 | +1.5% | $91,750 | 5.8x |
The three states above are Nevada's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. Arizona carries a lower typical home value than Nevada, which is what makes it the usual destination for equity-funded moves out of Nevada.
Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.
Nevada housing markets by city
88 cities tracked — the 60 largest by population shown
Las Vegas
$419,144
Henderson
$479,263
North Las Vegas
$402,439
Reno
$573,360
Enterprise
Pop. 232K
Spring Valley
Pop. 220K
Sunrise Manor
Pop. 199K
Paradise
Pop. 186K
Sparks
$535,221
Whitney
Pop. 46K
Pahrump
$366,137
Winchester
Pop. 38K
Summerlin South
Pop. 30K
Fernley
$402,807
Sun Valley
$438,842
Mesquite
$373,548
Elko
$363,381
Spanish Springs
Pop. 18K
Dayton
$458,179
Spring Creek
$409,436
Boulder City
$470,766
Gardnerville Ranchos
Pop. 12K
Cold Springs
Pop. 11K
Fallon
$394,901
Incline Village
$1.53M
Laughlin
$252,305
Winnemucca
$355,630
Moapa Valley
Pop. 7K
Johnson Lane
Pop. 6K
Gardnerville
$612,502
Indian Hills
Pop. 6K
Silver Springs
$360,689
West Wendover
$307,463
Lemmon Valley
Pop. 4K
Washoe Valley
Pop. 3K
Minden
$707,312
Yerington
$317,060
Kingsbury
Pop. 2K
Carlin
$217,710
Tonopah
$155,628
Stagecoach
Pop. 2K
Sandy Valley
Pop. 2K
Topaz Ranch Estates
Pop. 2K
Smith Valley
Pop. 2K
Ruhenstroth
Pop. 2K
Jackpot
Pop. 1K
Amargosa Valley
Pop. 1K
East Valley
Pop. 1K
Genoa
$1.19M
Golden Valley
Pop. 1K
Wells
$225,156
Round Hill Village
Pop. 1K
Mogul
Pop. 1K
Osino
Pop. 1K
Verdi
$821,966
Moapa Town
Pop. 1K
Indian Springs
$389,178
Wadsworth
Pop. 1K
Virginia City
Pop. 1K
Stateline
$768,271
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What to do next in Nevada
If you are buying
- Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Nevada home is $2,360/mo in P&I today.
- Pick the city, not the state. Values across Nevada run from $155,628 in Tonopah to $3.02M in Glenbrook.
- Put two finalists head to head in the city comparison tool before you tour anything.
- Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.
If you are selling
- Price against your city, not the statewide figure — the spread between Nevada markets is wider than the year-over-year move in any of them.
- Read the supply table above. At 3.7 months of supply, you still set the terms — but only if the home is priced to the comps on day one.
- Watch days on market in your city, not the state. The statewide median was 52 days (Redfin, through May 2026); your city page carries its own.
- Time the listing against new-listing volume. New listings are -10.6% year over year — less competition than a year ago.
Nevada housing market questions
What is the typical home value in Nevada?
The typical home value in Nevada is $442,027 (Zillow, August 2026). That is a -1.8% change over the past 12 months. The median price of homes that actually sold was $481,200 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.
Are Nevada home prices going up or down?
Nevada home values are down 1.8% year over year (Zillow, August 2026). Values sit 3.2% below their highest reading in the past two years.
How much income do you need to buy a home in Nevada?
At the current 30-year fixed rate of 7.03%, a $442,027 home with 20.0% down carries roughly $2,360 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $101,143 before taxes, insurance, HOA dues, or mortgage insurance are added. Nevada's median household income is $75,561 (Census ACS, 2023), a gap of $25,582 above the median household. These figures are illustrative, not a quote or a pre-approval.
Is it cheaper to rent or buy in Nevada?
Typical asking rent across the largest Nevada cities Zillow publishes rent data for is $1,889 a month (median of 17 cities, Zillow, August 2026). Against a typical home value of $442,027, that is a price-to-rent ratio of 19.5x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $471 more than that typical rent each month, before taxes, insurance, and maintenance.
Which Nevada cities are the most affordable?
Among the largest cities we track in Nevada, the lowest typical home values are in Tonopah ($155,628), Carlin ($217,710), Eureka ($219,177), Wells ($225,156), Laughlin ($252,305). Values are Zillow's typical-home-value index for August 2026.
Which Nevada cities are the most expensive?
The highest typical home values among the largest Nevada cities are in Glenbrook ($3.02M), Zephyr Cove ($1.54M), Incline Village ($1.53M), Genoa ($1.19M), Verdi ($821,966). Price per square foot, inventory, and days on market for each are on the individual city pages.
Which Nevada cities are appreciating the fastest?
Over the past 12 months the largest home-value gains among Nevada cities we track were in Glenbrook (+17.5%), Zephyr Cove (+11.8%), Searchlight (+7.2%), Silver Springs (+4.9%), Incline Village (+4.8%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.
How long do homes take to sell in Nevada?
Homes in Nevada spent a median of 52 days on market in the last month Redfin published (Redfin, through May 2026). That is 5 days slower than the same month a year earlier. The quickest market among the state's largest cities was Zephyr Cove at 20 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
How does Nevada compare to neighboring states?
Nevada's typical home value of $442,027 compares with California at $764,158, Arizona at $417,990, Utah at $534,582. The U.S. typical home value is $368,697, putting Nevada 19.9% above the national figure. Arizona is cheaper on a typical-value basis.
Is now a good time to buy in Nevada?
That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 3.7 months of supply statewide (Redfin, through May 2026), active listings -9.9% year over year, and home values -1.8% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.
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City-vs-city in Nevada
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How we built these numbers
Neighboring state markets
- California housing market — $764,158 typical value
- Arizona housing market — $417,990 typical value
- Utah housing market — $534,582 typical value
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