The market in numbers
Home values over the last two years
The typical home in Nevada was worth $431,500 in September 2024 and $415,300 in August 2026, a change of −3.8% over two years. The high point of the period came in December 2024, at $437,600, and values are 5.1% below it today.
Housing markets by metro
Typical home value, 12-month change and rents for each metro area in Nevada, largest first. Linked metros have their own report, ZIP code by ZIP code. Of Nevada's ZIP codes, eight lie outside any metro area.
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Las Vegas | 70 | $407,600 | −2.7% | $1,800 | 5.0% |
| Reno | 23 | $575,400 | +1.6% | $2,100 | 4.2% |
| Fernley | 6 | $382,200 | +5.1% | n/a | n/a |
| Pahrump | 6 | $285,000 | +1.1% | n/a | n/a |
| Carson City | 3 | $479,200 | +0.8% | $2,100 | 4.7% |
| Fallon | 1 | $394,800 | +2.9% | n/a | n/a |
| Gardnerville Ranchos | 9 | $712,600 | +3.7% | $2,600 | 4.1% |
| Elko | 6 | $267,100 | +2.5% | n/a | n/a |
| Winnemucca | 1 | $357,300 | +4.3% | n/a | n/a |
Home values by county
Of Nevada's 15 counties, Douglas County has the highest typical home value, $712,600, and Mineral County the lowest, $132,100. Among counties with at least five ZIP codes, Lyon County has risen most over the year, up 5.1%, and Clark County has moved least, down 2.5%.
Show all 15 counties
| County | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Douglas County | 9 | $712,600 | +3.7% | $2,600 | 4.1% |
| Washoe County | 22 | $607,300 | +2.0% | $2,100 | 4.2% |
| Carson City | 3 | $479,200 | +0.8% | $2,100 | 4.7% |
| Storey County | 1 | $418,000 | +1.3% | n/a | n/a |
| Clark County | 69 | $407,600 | −2.5% | $1,800 | 5.0% |
| Churchill County | 1 | $394,800 | +2.9% | n/a | n/a |
| Lyon County | 6 | $382,200 | +5.1% | n/a | n/a |
| Humboldt County | 1 | $357,300 | +4.3% | n/a | n/a |
| Nye County | 5 | $326,500 | +1.0% | n/a | n/a |
| Elko County | 5 | $309,200 | +3.3% | n/a | n/a |
| Pershing County | 1 | $241,900 | −5.3% | n/a | n/a |
| Lincoln County | 4 | $240,700 | +0.4% | n/a | n/a |
| White Pine County | 3 | $222,400 | +13.9% | n/a | n/a |
| Lander County | 2 | $220,100 | +9.8% | n/a | n/a |
| Mineral County | 1 | $132,100 | −8.4% | n/a | n/a |
Where prices are rising fastest
The ten ZIP codes with the strongest change in home values over the past twelve months. Among the larger half of Nevada's ZIP codes by population, so that places with only a handful of sales a year do not crowd the list.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 89408 | Fernley | $403,000 | +3.5% | +2.0% |
| 89511 | Reno | $1,120,300 | +3.1% | +2.8% |
| 89406 | Fallon | $394,800 | +2.9% | +3.4% |
| 89523 | Reno | $639,100 | +2.3% | +2.6% |
| 89801 | Elko | $367,800 | +2.1% | +3.8% |
| 89434 | Sparks | $479,300 | +2.1% | +2.2% |
| 89503 | Reno | $475,900 | +1.9% | +2.1% |
| 89509 | Reno | $688,600 | +1.8% | +2.4% |
| 89436 | Sparks | $575,400 | +1.6% | +1.6% |
| 89431 | Sparks | $404,800 | +1.6% | +2.0% |
Where prices are falling
Across Nevada, 75 ZIP codes are below where they were a year ago. These are the ten largest declines among the larger half by population.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 89103 | Las Vegas | $253,700 | −8.0% | −12.6% |
| 89169 | Las Vegas | $274,700 | −6.5% | −9.3% |
| 89119 | Las Vegas | $262,100 | −6.1% | −8.8% |
| 89118 | Las Vegas | $321,400 | −5.5% | −10.4% |
| 89161 | Las Vegas | $1,036,900 | −5.5% | −7.9% |
| 89148 | Las Vegas | $463,400 | −4.4% | −7.1% |
| 89147 | Las Vegas | $407,700 | −4.3% | −6.5% |
| 89113 | Las Vegas | $469,700 | −4.3% | −7.1% |
| 89139 | Las Vegas | $455,900 | −4.0% | −7.9% |
| 89141 | Las Vegas | $513,400 | −4.0% | −6.3% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the highest yields among the larger ZIP codes with rent data.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 89103 | Las Vegas | $253,700 | $1,400 | 6.7% | +1.3% |
| 89118 | Las Vegas | $321,400 | $1,700 | 6.2% | +2.4% |
| 89081 | North Las Vegas | $413,200 | $2,100 | 6.1% | +0.9% |
| 89119 | Las Vegas | $262,100 | $1,300 | 6.1% | −2.6% |
| 89031 | North Las Vegas | $407,600 | $2,100 | 6.0% | +0.9% |
| 89145 | Las Vegas | $386,600 | $1,900 | 5.9% | −0.2% |
| 89408 | Fernley | $403,000 | $2,000 | 5.9% | +5.3% |
| 89801 | Elko | $367,800 | $1,800 | 5.8% | n/a |
| 89106 | Las Vegas | $336,000 | $1,600 | 5.7% | −1.2% |
| 89134 | Las Vegas | $486,400 | $2,300 | 5.7% | +0.8% |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The state typical is 5.3×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 89141 | Las Vegas | $513,400 | $122,300 | 4.2× |
| 89178 | Las Vegas | $466,900 | $108,800 | 4.3× |
| 89002 | Henderson | $461,600 | $105,500 | 4.4× |
| 89801 | Elko | $367,800 | $82,100 | 4.5× |
| 89081 | North Las Vegas | $413,200 | $91,700 | 4.5× |
| 89408 | Fernley | $403,000 | $89,600 | 4.5× |
| 89118 | Las Vegas | $321,400 | $71,200 | 4.5× |
| 89166 | Las Vegas | $489,800 | $107,800 | 4.5× |
| 89084 | North Las Vegas | $442,200 | $97,000 | 4.6× |
| 89139 | Las Vegas | $455,900 | $99,800 | 4.6× |
Who is moving in
Household moves between the 2022 and 2023 tax years, measured county by county. Summed across its counties, Nevada gained 17,844 households on net, and the households that arrived brought $3.0bn more income than those that left. Of its 16 counties, ten gained households. The tables show the largest gains and losses; the last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Clark County | +14,032 | +$2.3bn | +$13,056 |
| Washoe County | +1,858 | +$464m | +$11,451 |
| Lyon County | +1,108 | +$124m | +$11,119 |
| Nye County | +730 | +$66m | +$6,178 |
| Douglas County | +460 | +$44m | −$6,385 |
| Washoe County | +76 | +$7m | +$5,556 |
| Mineral County | +48 | +$0m | −$10,002 |
| Carson City | +44 | +$29m | +$5,723 |
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Humboldt County | −178 | −$20m | −$8,533 |
| Elko County | −172 | −$35m | −$8,731 |
| Churchill County | −84 | +$5m | +$5,662 |
| Pershing County | −82 | −$8m | −$12,757 |
| White Pine County | −24 | +$2m | +$7,545 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In Nevada, 6 of 133 ZIP codes grade A and 43 grade F. Which ones, and why, is in CITIZEN.
Questions
Are home prices going up or down in Nevada?
Down. Home values across Nevada are down 2.5% over the past twelve months, to a typical $415K, and 58 of its 133 ZIP codes are higher than a year ago.
What is the typical home value in Nevada?
$415,300 across Nevada's 133 ZIP codes, as of August 2026. Among its metro areas, the typical home ranges from $407,600 in Las Vegas to $712,600 in Gardnerville Ranchos.
What is the cheapest place to buy a house in Nevada?
Among Nevada's metro areas with at least eight ZIP codes, Las Vegas has the lowest typical home value, $407,600. Among the larger half of its ZIP codes, 89103 in Las Vegas is the cheapest, at $253,700.
Where are home prices rising fastest in Nevada?
89408 in Fernley (+3.5%), 89511 in Reno (+3.1%) and 89406 in Fallon (+2.9%), over the past twelve months, among the larger half of its ZIP codes.
What is the typical rent in Nevada?
About $1,800 a month, across the 87 ZIP codes with rent data, up 1.1% over the past year.
Are people moving to Nevada?
Yes, on balance. Between the 2022 and 2023 tax years, Nevada gained 17,844 households on net from moves, summed across its counties.
Other states
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values and rents through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023.
- State, metro and county figures are medians across their ZIP codes, not a separate index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- ZIP code lists use the larger half of the state's ZIP codes by population.
- Updated monthly. Last updated 2026-10-14.
