Total monthly cost of ownership
Cost to Own a Home in Fernley, Nevada
A $353,000 home here costs
$2,535per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,815. The real number is $720 higher every month — 40% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Fernley against Lyon County and Nevada
| Measure | Fernley | Lyon County |
|---|---|---|
| Median home value | $352,600 | $342,600 |
| Median property tax | $2,081 | $1,585 |
| Effective tax rate | 0.590% | 0.463% |
| Median gross rent | $1,463 | $1,259 |
| Population | 23,631 | 60,630 |
The weather behind that power bill
Fernley sits in Lyon County, which averages a high of 93.4°F in its hottest month and a low of 21.8°F in its coldest, with 4.58" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 922 cooling and 5,090 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Lyon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lyon County
Common questions
How much does it cost to own a home in Fernley?
A $353,000 home in Fernley, Nevada costs approximately $2,535 per month with 20% down at 6.66%. That is $1,815 principal and interest, $174 property tax, $62 homeowners insurance, $190 utilities and $294 set aside for maintenance.
What is the property tax rate in Fernley?
Fernley has an effective property tax rate of 0.590%, based on a median home value of $352,600 and median real estate taxes of $2,081. That is higher than the Lyon County average of 0.463%.
What is the average home price in Fernley?
The median owner-occupied home value in Fernley, Nevada is $352,600, against $342,600 across Lyon County.
Is it cheaper to rent or buy in Fernley?
Median gross rent in Fernley is $1,463 a month, against $2,535 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fernley — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Nevada.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.