Typical Nevada mortgage payment
The median home price in Nevada is roughly $450,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,559 | $2,416 |
| 5.50% | $3,677 | $2,555 |
| 6.00% | $3,797 | $2,698 |
| 6.50% | $3,920 | $2,844 |
| 7.00% | $4,045 | $2,994 |
| 7.50% | $4,172 | $3,146 |
| 8.00% | $4,300 | $3,302 |
| 8.50% | $4,431 | $3,460 |
| 9.00% | $4,564 | $3,621 |
| 9.50% | $4,699 | $3,784 |
| 10.00% | $4,836 | $3,949 |
What a Nevada mortgage really costs (PITI)
Principal & interest alone would run about $2,844/month at 6.50% over 30 years. But Nevada's property tax - roughly 0.60% of home value per year here - adds about $225/month, and estimated homeowners insurance adds around $131/month. Your real total monthly payment (PITI) on a $450,000 Nevada home is closer to $3,201/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $137,167/year. A 20% down payment here is $90,000.
Nevada vs. its neighbors
Of Nevada and its neighbors, Arizona has the lowest estimated total monthly payment - about $121 less per month than Nevada.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| Arizona | $430,000 | 0.66% | $3,080/mo |
| Idaho | $450,000 | 0.69% | $3,234/mo |
| Nevada (this page) | $450,000 | 0.60% | $3,201/mo |
| Oregon | $500,000 | 1.09% | $3,760/mo |
| Utah | $540,000 | 0.63% | $3,854/mo |
| California | $765,000 | 0.75% | $5,537/mo |
What affects your Nevada payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.