What’s the average mortgage payment in Nevada?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Nevada is around $2,189 before property taxes and insurance. This places Nevada above the national average when it comes to monthly housing costs, driven largely by higher home prices in major metro areas such as Las Vegas and Reno.

Despite rising prices, Nevada continues to attract buyers thanks to a growing population and relatively low property tax rates compared to many other high-cost states.

Overview of the Nevada housing market

The median sale price of a home in Nevada is roughly $473,400, according to Redfin’s statewide housing data. While prices vary widely by region, Lemmon Valley, Sun Valley, and North Las Vegas are among the cities seeing the highest demand. Redfin’s data shows that homes in Nevada are spending more time on the market compared to this time last year.

Here’s a snapshot of recent median sale prices from Redfin across several Nevada cities:

Factors that influence mortgage payments in Nevada

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator can help you see how different variables affect your payment.

Home price and down payment

Nevada’s median home price is well above the national median, which means buyers often take on larger loan amounts.  Assuming a 20% down payment and 6.5% interest rate, a median-priced Nevada home incurs a monthly mortgage payment of approximately $2,390.

A down payment below 20% may trigger private mortgage insurance (PMI), which can add over $200 to your monthly cost.

Mortgage rate

Your Nevada mortgage rate depends on:

• Credit score and credit history

• Debt-to-income ratio (DTI)

• Loan type

• Down payment amount

• Home type and location

• Current market rates

Loan term

Loan length also influences your monthly payment. Most home buyers choose a 30-year or 15-year option. The 30-year mortgage is the most common of the two and allows you to spread out payments over a longer duration while making a smaller monthly payment. The 15-year mortgage can be a better option if you can afford higher monthly payments because you’ll pay much less in total interest.

Property taxes and insurance

Nevada’s average property tax rate is about 0.49% ($193), one of the lowest rates in the nation. On a median-priced home, property taxes tend to be more manageable compared to states with higher tax burdens.

Homeowners insurance in Nevada averages about $154 per month, reflecting wildfire exposure in some areas but fewer hurricane and flood risks than many coastal states.

How do mortgage payments in Nevada compare to others in the region?

While mortgage rates themselves are similar nationwide, Nevada’s average monthly mortgage payment is higher than most Mountain West states but significantly lower than California.

Counties with the highest mortgage payments in Nevada

County-level affordability varies widely across Nevada. The highest mortgage payments are concentrated in counties with higher median home prices and proximity to major metro areas.

Counties with the lowest mortgage payments in Nevada

Rural counties tend to have lower home prices and lower monthly mortgage payments.

How to calculate your mortgage payment

Lenders use a standard formula that factors in the loan term, interest rate, and the loan amount.

Rocket Mortgage offers a simple online mortgage calculator that lets you adjust these variables and see how your monthly payment changes. Additional tools allow you to explore refinancing options, PMI estimates, and more.

Nevada-specific mortgage resources

Nevada offers several programs designed to help make homeownership more accessible:

• Nevada Housing Division (NHD): Offers down payment assistance and affordable mortgage programs

• Home is Possible: Statewide program that offers low and moderat-income home buyers a fixed-rate 30-year loan with potential for additional assistance for the down payment and closing costs.

Average mortgage payment in Nevada FAQ

Where can I find the lowest mortgage payment in Nevada?

Esmeralda County has the lowest average mortgage payment in the state at about $670 per month.

Which county has the highest mortgage payment in Nevada?

Douglas County has the highest average monthly mortgage payment, at roughly $3,820.

How much do you need to make to afford a home in Nevada?

Many lenders follow the 28/36 rule. With Nevada’s typical mortgage payment of $2,189, a household may need to earn about $7,800 per month, or roughly $94,000 per year, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in Nevada

Nevada’s mortgage payments vary significantly by location. While some rural counties remain relatively affordable, buyers in metro and resort-adjacent areas face substantially higher monthly costs. Understanding local market conditions, interest rates, and tax implications can help buyers better plan for homeownership.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence. 

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.