Las Vegas, NV

Rent vs buy in Las Vegas

Median home $400,800. A 1 bedrooms rents for $1,279 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,279; per month
Own the median home: $2,554; P&I, tax, insurance, upkeep
Owning costs extra: $1,275; per month, same metro

What a purchase actually costs

20% down payment$80,160
Mortgage at 6.5%$2,027
Property tax (0.48% of value)$160/mo · $1,924/yr
Insurance and upkeep (1.1%/yr)$367
Total monthly ownership$2,554

Census ACS 2023: 52.9% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $2,547 left over a month, it takes about 32 months (2.7 years) to save $80,160 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.