Home Values in Las Vegas, Nevada — 2026 Market Report
Updated March 2026 | Balanced Market | +7% YoY
The median home value in Las Vegas, Nevada is $395,000 as of March 2026, which is near the national median of $400,000. Home values in Las Vegas have increased by 7% over the past year and 40.3% over the last five years. With a population of 641,903 and a median household income of $54,143, the price-to-income ratio stands at 7.3x, making Las Vegas affordable for the average household.
Las Vegas Housing Market Conditions
| Metric | Las Vegas | National Avg |
|---|---|---|
| Median Home Value | $395,000 | $400,000 |
| YoY Appreciation | +7% | +3.8% |
| 5-Year Appreciation | +40.3% | +22.4% |
| Price per Sq Ft | $195 | $222 |
| Days on Market | 33 days | 45 days |
| Months of Supply | 3.5 | 3.5 |
| List-to-Sale Ratio | 99.8% | 98.5% |
| Monthly Homes Sold | 512 | — |
| Foreclosure Rate | 0.45% | 0.3% |
Home Value Trends in Las Vegas
A homeowner who purchased at the median price of $281,540 five years ago in Las Vegas would have gained approximately $113,460 in equity, representing a 40.3% return on investment. Over the past year alone, the typical homeowner gained $25,841 in home equity.
Affordability in Las Vegas, NV
With a median household income of $54,143 and a median home price of $395,000, the price-to-income ratio in Las Vegas is 7.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,923 compared to estimated monthly ownership costs of $2,075 gives a rent-vs-buy ratio of 0.71. In Las Vegas, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Las Vegas
The effective property tax rate in Nevada is 0.6%. On a home valued at $395,000, the estimated annual property tax bill is $2,370, or approximately $198/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Las Vegas is 101.1 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Las Vegas, NV?
The median home value in Las Vegas, Nevada is $395,000 as of March 2026. Home values have changed +7% over the past year, with a 5-year appreciation of 40.3%.
Is Las Vegas a buyer's or seller's market?
Las Vegas is currently a balanced market with 3.5 months of housing supply. Homes spend an average of 33 days on market, and the list-to-sale price ratio is 99.8%. Supply and demand are relatively balanced.
Are home values going up in Las Vegas?
Yes, home values in Las Vegas have increased by 7% over the past year. The 5-year appreciation rate is 40.3%, meaning a home worth $281,540 five years ago is now worth $395,000.
Is it better to rent or buy in Las Vegas?
The average monthly rent in Las Vegas is $2,923, while estimated monthly homeownership costs are approximately $2,075. The price-to-rent ratio is 11.3. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Nevada Cities
Related Resources
Disclaimer: Home value data for Las Vegas, Nevada is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.