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How much do you have to make to buy homes in Las Vegas area?

Posted at 12:09 PM, Apr 09, 2018
and last updated 2018-04-09 17:55:48-04

The salary required to buy a home in the Las Vegas metro area is well below than the surrounding states although it varies by neighborhood.

RELATED: Home prices continue to increase in Southern Nevada

According to the Unison Home Affordability Report 2018, your salary would have to be $59,022 with a 10 percent down payment in the Las Vegas-Henderson-Paradise metropolitan area.

The most affordable city in Clark County is Mesquite where your salary would have to be $54,000 with 10 percent down payment while the most expensive is Summerlin South with a salary of $95,000. Mesquite has a median home value of $207,807 while Summerlin South is $363,543. 

RELATED: Which Las Vegas valley zip codes showed highest gains in home prices?

With a 10 percent down payment in the city of Las Vegas, the salary is $57,000 while in Henderson it is $71,000. Median home values are $220,979 and $272,724 in Las Vegas and Henderson, respectively.

In Boulder City, it's slightly more affordable at a $69,000 salary where the median home value is $265,040. One thing of note in Boulder City is that 68 percent of homes are owned versus rented. 

To see what salary would be needed for a 5 percent and 20 percent down payments, click here

When compared to the surrounding states and their metropolitan areas, Phoenix-Mesa-Scottsdale is only slightly higher with a salary of $60,256 but it only goes up from there. Salt Lake City is $72,712 while Los Angeles-Long Beach-Anaheim is $157,728 and San Francisco-Oakland-Hayward is $231,216.