$475,000. That was the median price of an existing single-family home sold in Southern Nevada in October 2026, according to Las Vegas REALTORS. The median household income in the Las Vegas area is about $79,648. Put those two numbers next to a 30-year mortgage rate above 7%, and you get the affordability problem in one line: the median home costs about six times the median household’s annual income.
Here is what those numbers mean month to month, and what they do and do not tell you.
The numbers, as of this post
| Measure | Figure | Source |
|---|---|---|
| Median existing single-family sale price, October 2026 | $475,000 (up 0.1% from October 2025) | Las Vegas REALTORS |
| Median condo and townhome sale price, October 2026 | $279,000 (down 2.1% from October 2025) | Las Vegas REALTORS |
| 30-year fixed mortgage rate, week of November 5, 2026 | 7.18% (6.22% a year earlier) | Freddie Mac PMMS |
| Median household income, Las Vegas-Henderson area | $79,648 | U.S. Census Bureau, ACS 2024 1-year |
| Median price to median income | About 6.0 times | Calculated from the figures above |
Las Vegas REALTORS also reported that the single-family median is below the all-time high of $490,000 set in May and June of this year, and that the October sales pace works out to nearly six months of supply.
The monthly math on a median-priced Las Vegas home
This is an illustration with assumed figures, not a quote or a pre-approval. It uses the $475,000 median price and the 7.18% Freddie Mac average rate on a 30-year fixed loan. Property tax, insurance and mortgage insurance are rough assumptions so the totals are realistic; your actual numbers will differ by home, loan and credit.
| Down payment | Loan amount | Principal and interest | Assumed tax, insurance and mortgage insurance | Estimated monthly total | Income at 28% of gross |
|---|---|---|---|---|---|
| 3.5% ($16,625) | $458,375 | $3,105 | $600 | $3,705 | About $158,800 |
| 10% ($47,500) | $427,500 | $2,896 | $550 | $3,446 | About $147,700 |
| 20% ($95,000) | $380,000 | $2,574 | $400 | $2,974 | About $127,500 |
Assumptions: $250 a month in property tax, $150 a month in homeowners insurance, and mortgage insurance of $200 a month at 3.5% down and $150 at 10% down. No HOA dues. The last column uses the old 28% housing-to-income rule of thumb; lenders actually look at total debt-to-income ratios, and many approve above 28%.
Two things jump out. First, at any of these down payments, the income needed is well above the area’s median household income. Second, rates matter as much as price. On the same $427,500 loan, principal and interest at last year’s 6.22% average would have been about $2,624 a month. At 7.18%, it is about $2,896. That is roughly $272 more every month with no change in the home.
What 28% of the median income actually buys
Flip it around. A household earning $79,648 a year that keeps total housing costs at 28% of gross income has about $1,858 a month to work with. That is closer to the condo and townhome market than the single-family median. Illustration only: a $279,000 condo with 10% down at 7.18% is about $1,701 a month in principal and interest before HOA dues, tax and insurance, and HOA dues alone can push it past that $1,858 line.
What this data does not tell you
- Median household income includes renters and owners. Many buyers earn more or less than the median, and two-income households, equity from a prior sale and gifts all change the picture.
- The median sale price is a midpoint of what sold, not what is listed. Plenty of Las Vegas homes trade below it, and Summerlin generally sits well above it.
- The rate is a national average for borrowers with 20% down and excellent credit. Your rate can be higher or lower, and buydowns or builder incentives change the payment.
- The tax and insurance figures are assumptions. Get a real quote and look up the actual tax bill on any home you consider.
If the numbers above are close to your situation, the next useful step is looking at how the down payment changes your cash and your payment. Our breakdown of 3, 5, 10 or 20 percent down on a Las Vegas home walks through that, and confirm specifics with your lender before you make a decision.
Source: Las Vegas REALTORS October 2026 report, as reported by KSNV News 3 Las Vegas (November 6, 2026); Freddie Mac Primary Mortgage Market Survey (November 5, 2026); U.S. Census Bureau American Community Survey 2024 1-year estimates via Census Reporter, Las Vegas-Henderson, NV CSA. Figures are as of the date of this post (November 10, 2026).
Geoff Zahler | Broker/Owner, Zahler Properties