LAS VEGAS — Home prices in Las Vegas have reached record highs, driving up the cost of both renting and homeownership and making relocation within the region increasingly unaffordable for many residents.
In November 2025, the Las Vegas housing market saw the highest increase. While the cost of housing has since stopped, Las Vegas Metro house prices are up 241% since 2012, compared to the national 152% increase. According to a 2025 Realtor.com report, the median price of single-family homes in November was $488,995, up 1.9% from October.
Long-term supply constraints and land availability issues indicate that the Nevada housing market is unlikely to be self-stable. According to Nevada Policy, 86% of the land in the state of Nevada is owned by the federal government, and as a result, supply can’t keep up with demand.
Maurice Page, Executive Director of the Nevada Housing Coalition, said:
“Over the last 10 years, housing has become a huge issue for the state of Nevada.”
While Nevada has low property taxes, other factors driving ongoing costs include HOA fee inflation, utility costs, rent increases, and insurance premiums. One Clark County resident told KSNV that rising costs are straining household budgets.
“It is really expensive with the prices of groceries and stuff. And you got to take care of your family. And the rates right now. I mean, nobody can afford it right now. It is way too high.”
With housing price increases across the state, relocating does little to ease the financial pressure many households are facing.
