Total monthly cost of ownership
Cost to Own a Home in Summerlin South, Nevada
A $642,000 home here costs
$4,692per 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 $201,000 a year.
A standard mortgage calculator would have told you $3,556. The real number is $1,136 higher every month, 32% 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.
Summerlin South against Clark County and Nevada
| Measure | Summerlin South | Clark County |
|---|---|---|
| Median home value | $641,600 | $400,800 |
| Median property tax | $3,616 | $1,990 |
| Effective tax rate | 0.564% | 0.497% |
| Median gross rent | $2,400 | $1,518 |
| Population | 30,075 | 2,293,764 |
The weather behind that power bill
Summerlin South 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 Summerlin South 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 Summerlin South every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Summerlin South I already own here and may sell
Common questions
How much does it cost to own a home in Summerlin South?
A $642,000 home in Summerlin South, Nevada costs approximately $4,692 per month with 20% down at 7.4%. That is $3,556 principal and interest, $302 property tax, $112 homeowners insurance, $187 utilities and $535 set aside for maintenance.
What is the property tax rate in Summerlin South?
Summerlin South has an effective property tax rate of 0.564%, based on a median home value of $641,600 and median real estate taxes of $3,616. That is higher than the Clark County average of 0.497%.
What is the average home price in Summerlin South?
The median owner-occupied home value in Summerlin South, Nevada is $641,600, against $400,800 across Clark County.
Is it cheaper to rent or buy in Summerlin South?
Median gross rent in Summerlin South is $2,400 a month, against $4,692 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 Summerlin South?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Summerlin South, Nevada at today's rate takes a household income of roughly $201,000 a year. That covers the full $4,692 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Summerlin South, 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.