Compare mortgage rates and closing costs for leading lenders in Nevada. Review free, personalized mortgage rates for Nevada based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
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August 19, 2019
The current average rate for a 30 year fixed rate mortgage in Nevada is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Nevada is $311,167
The median household income for Nevada is $57,351
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Nevada is $57,731
The home price you can afford to by based on household income in Nevada is 99% of the median home value which means housing prices are very expensive. Nevada ranks 44 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Nevada is very expensive
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index