Las Vegas, Nevada Mortgage Calculator

Las Vegas median home prices reach $474,370 in 2025, down 0.2% from prior year as market stabilizes after rapid appreciation. Summerlin master-planned community averages $600K-$800K, Henderson ranges $500K-$650K, while North Las Vegas offers more affordable options at $350K-$425K. Downtown Las Vegas and Arts District condos range $300K-$500K. Luxury communities like The Ridges and MacDonald Highlands command $1M-$5M+. Condos and townhomes median $285,000, down 9.5% YoY. Inventory increased 45% year-over-year to 4.4 months supply, creating balanced market with negotiating power for buyers.

For Las Vegas' $474,370 median, buyers need $120,000-$138,000 annual income with 20% down ($95,000). Monthly costs run $3,100-$3,500 including mortgage, 0.53% property tax (ultra-low), insurance. Nevada has NO state income tax - effectively increasing take-home pay 4-8% versus states with income tax. Strong employment from hospitality/gaming (MGM, Caesars, Wynn), tech sector growth (Zappos, Switch), healthcare (UMC, Sunrise), and California transplants seeking tax advantages. Median income $70,723 makes ownership accessible with higher-paying gaming, tech, and professional services jobs.

Las Vegas (Clark County) property tax rate averages 0.53%, very low compared to national 0.99% and major metros. On $474,370 home, expect $2,514 annual property tax - exceptionally affordable. Combined with Nevada's NO state income tax, Las Vegas offers significant tax advantages versus California (13.3% income tax), Oregon (9.9%), or Arizona (4.5%). For $120K household income, saving $5,000-$8,000 annually in state income tax alone. Property taxes fund Clark County schools, police/fire, infrastructure. No homestead exemption but overall tax burden among lowest nationally for major metros.

Value-conscious buyers target: North Las Vegas $350K-$425K (affordable growth area), East Las Vegas $380K-$450K (diverse neighborhoods), Spring Valley $450K-$550K (southwest corridor), Paradise $400K-$500K (near Strip employment), Boulder City $450K-$600K (small-town charm 30 mins away). Consider downtown/Arts District condos $250K-$350K for lower entry with urban lifestyle. Henderson suburbs $480K-$650K offer premium master-planned living. Summerlin $600K-$800K provides top-tier amenities, schools. California transplants fuel demand seeking tax advantages and affordability versus LA/SF/San Diego pricing.

Las Vegas is neutral/balanced market in 2025 with buyer advantages. Inventory increased 45% year-over-year to 4.4 months supply, homes average 63 days on market (up from 42 days), 60% sold under asking price in recent months. Market cooled significantly from pandemic frenzy, creating negotiating power. Strong fundamentals from hospitality/gaming recovery, tech sector expansion (Zappos, Switch, Google), California transplant wave (fleeing taxes/costs), 24/7 entertainment economy, and year-round warm climate support long-term value. No state income tax and ultra-low property tax (0.53%) create tax advantages attracting buyers from high-tax states.

With a $70,000 annual salary, you can typically afford a home priced between $210,000-$280,000, assuming good credit, 20% down payment, and following the 28/36 debt rule. Use our calculator above for your exact situation.

Minimum credit scores vary by loan type: Conventional loans require 620+, FHA loans accept 580+ (or 500+ with 10% down), VA loans have no minimum but lenders typically want 620+, and USDA loans need 640+.

A 20% down payment eliminates PMI requirements, which typically costs 0.5-1% annually. However, many buyers purchase with less down. This is educational information - evaluate your specific situation and consult professionals.

Closing costs typically range from 2-5% of the home price. On a $300,000 house, expect $6,000-$15,000 in closing costs including appraisal, inspection, title insurance, and lender fees.

A fixed-rate mortgage has the same interest rate for the life of the loan, meaning your monthly principal and interest payments are stable. An adjustable-rate mortgage (ARM) has a rate that changes periodically, so your monthly payments could increase or decrease.

To improve your DTI ratio, you can either increase your income or decrease your debt. Consider strategies like paying down high-interest loans, avoiding new debt, and exploring opportunities to boost your earnings.

A home appraisal is a professional assessment of a property's value. It is important because lenders use it to ensure they are not lending more money than the property is worth. A low appraisal can impact your ability to secure a loan.

A 15-year mortgage typically has a lower interest rate and you will pay less interest over the life of the loan. However, the monthly payments are higher. A 30-year mortgage has lower monthly payments, but you will pay more in interest over time.