Total monthly cost of ownership
Cost to Own a Home in Las Vegas, Nevada
A $395,000 home here costs
$2,938per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $126,000 a year.
A standard mortgage calculator would have told you $2,188. The real number is $750 higher every month, 34% more than the payment most buyers budget for.
Compare Clark County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Las Vegas against Clark County and Nevada
| Measure | Las Vegas | Clark County |
|---|---|---|
| Median home value | $395,300 | $400,800 |
| Median property tax | $1,985 | $1,990 |
| Effective tax rate | 0.502% | 0.497% |
| Median gross rent | $1,456 | $1,518 |
| Population | 650,873 | 2,293,764 |
The weather behind that power bill
Las Vegas sits in Clark County, which averages a high of 103.8°F in its hottest month and a low of 38.0°F in its coldest, with 3.99" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 3,407 cooling and 1,992 heating degree days, which is what sets the $119 electricity line above.
See the full climate breakdown for Clark County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clark County
Talk to someone who works this market
These are Las Vegas averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Las Vegas every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Las Vegas I already own here and may sell
Common questions
How much does it cost to own a home in Las Vegas?
A $395,000 home in Las Vegas, Nevada costs approximately $2,938 per month with 20% down at 7.4%. That is $2,188 principal and interest, $165 property tax, $69 homeowners insurance, $187 utilities and $329 set aside for maintenance.
What is the property tax rate in Las Vegas?
Las Vegas has an effective property tax rate of 0.502%, based on a median home value of $395,300 and median real estate taxes of $1,985. That is in line with the Clark County average of 0.497%.
What is the average home price in Las Vegas?
The median owner-occupied home value in Las Vegas, Nevada is $395,300, against $400,800 across Clark County.
Is it cheaper to rent or buy in Las Vegas?
Median gross rent in Las Vegas is $1,456 a month, against $2,938 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Las Vegas?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Las Vegas, Nevada at today's rate takes a household income of roughly $126,000 a year. That covers the full $2,938 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Las Vegas, 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.