Nevada earned a C-minus and ranked 34th out of 50 states in Realtor.com's latest Affordability and Homebuilding Report Card, scoring 45.8 out of 100. Indiana topped the list with an A and a score of 76.3, while New York ranked last with an F and 8.5 points. The report evaluates median home list prices against median household incomes and building permits issued per capita using 2025 data and U.S. Census Bureau figures.
In Nevada, the median home list price was $491,936 compared to a median household income of $74,821. Realtor.com senior economist Joel Berner noted the state has received a C-minus in consecutive report cards. "Our grading system assesses both current affordability conditions in the state and new construction activity as an indicator of future affordability improvements," Berner said.
Berner added that Nevada builds 35 percent more homes per capita than the national average but still struggles with the current supply of homes for sale. He said the average monthly mortgage payment on a median-priced home consumes about 45 percent of a median earner's monthly income, well above the 30 percent affordability benchmark. "Incomes and home prices are misaligned in Nevada, making it difficult for buyers to break into the market, but the inflow of newly built homes could help to give buyers more options at more competitive prices in the future," he said.
Local real estate agent Forest Barbee reported the Las Vegas Valley now has more than six months of housing inventory, the highest level in four years. However, prices have only dropped roughly $20,000 from an all-time high set earlier this year, reflecting a gap between buyer expectations and seller demands. Home prices in the valley have essentially doubled over the past decade while wages have failed to keep pace.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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