Total monthly cost of ownership
Cost to Own a Home in Nevada, Missouri
A $101,000 home here costs
$993per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $42,500 a year.
A standard mortgage calculator would have told you $551. The real number is $442 higher every month, 80% more than the payment most buyers budget for.
Compare Vernon 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.
Nevada against Vernon County and Missouri
| Measure | Nevada | Vernon County |
|---|---|---|
| Median home value | $100,600 | $136,700 |
| Median property tax | $920 | $970 |
| Effective tax rate | 0.915% | 0.710% |
| Median gross rent | $716 | $722 |
| Population | 7,998 | 19,713 |
The weather behind that power bill
Nevada sits in Vernon County, which averages a high of 88.7°F in its hottest month and a low of 21.5°F in its coldest, with 46.47" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,437 cooling and 4,660 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Vernon County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Vernon County
No other places of this size are published in Vernon County.
Full Vernon County cost breakdown · Every county in Missouri
Talk to someone who works this market
These are Nevada 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 Nevada every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Nevada I already own here and may sell
Common questions
How much does it cost to own a home in Nevada?
A $101,000 home in Nevada, Missouri costs approximately $993 per month with 20% down at 7.24%. That is $551 principal and interest, $77 property tax, $53 homeowners insurance, $228 utilities and $84 set aside for maintenance.
What is the property tax rate in Nevada?
Nevada has an effective property tax rate of 0.915%, based on a median home value of $100,600 and median real estate taxes of $920. That is higher than the Vernon County average of 0.710%.
What is the average home price in Nevada?
The median owner-occupied home value in Nevada, Missouri is $100,600, against $136,700 across Vernon County.
Is it cheaper to rent or buy in Nevada?
Median gross rent in Nevada is $716 a month, against $993 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 Nevada?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nevada, Missouri at today's rate takes a household income of roughly $42,500 a year. That covers the full $993 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nevada, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Missouri.
- 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.