The housing market in Nevada State is significantly more expensive than the national average. The median value of a home in Nevada is $417,100, which is over $80,000 higher than the US median value of $338,100. Although the one-year appreciation rate for homes across the US is 8.27%, that rate is much lower in Nevada at 4.18%. Despite this lower appreciation rate in Nevada, it remains an attractive option for potential home buyers due to its comparatively higher home values.
The median home cost in Nevada is $417,100. Home appreciation the last 10 years has been 217.8%. Home Appreciation in Nevada is up 16.5%.
Average Age of Homes
- The median age of Nevada real estate is 23 years old
The Rental Market in Nevada
- Renters make up 37.6% of the Nevada population
- 2.8% of houses and apartments in Nevada, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.