Nevada First-Time Homebuyer Guide
Everything you need to know about buying your first home in Nevada — from property taxes and insurance costs to down payment assistance programs that can save you thousands.
Key homebuying statistics for Nevada
Property Tax Rate
0.48%
Below national avg (1.10%)
Avg. Annual Insurance
$1,300
Below national avg ($1,700)
Closing Cost Estimate
3.00%
At national avg (3.00%)
Data last verified: February 2026. Found incorrect data? Email us .
What These Numbers Mean for You
On a $350,000 home in Nevada:
Annual property taxes
~$1,680
~$140/month
Annual homeowner's insurance
~$1,300
~$108/month
Estimated closing costs
~$10,500
Due at closing
These are estimates. Actual costs depend on your specific property, lender, and county. Use our calculators below for personalized estimates.
Buying a Home in Nevada
Nevada offers unique opportunities and challenges for first-time homebuyers. Understanding local costs is essential before you start house hunting, because property taxes, insurance, and closing costs vary significantly from state to state and can add hundreds of dollars to your monthly payment.
Good news: Nevada's property tax rate of 0.48% is below the national average of 1.10%, which means lower monthly costs compared to many other states. On the insurance side, Nevada homeowners enjoy below-average premiums at $1,300/year.
As a first-time buyer, you likely qualify for one or more down payment assistance programs specific to Nevada. These programs can significantly reduce the upfront cash you need to purchase a home. Check the programs listed below and reach out to a local HUD-approved housing counselor for personalized guidance.
Nevada Down Payment Assistance Programs
Home Is Possible Program
Down payment assistance grant of up to 5% of the loan amount with competitive mortgage rates for qualifying buyers.
Home Is Possible for Teachers
Down payment assistance up to 5% of the loan amount specifically for licensed K-12 teachers in Nevada.
Program details and eligibility requirements change. Visit each program's website for the most current information.
Try Our Calculators with Nevada Data
Mortgage Payment Calculator
Estimate your monthly payment including principal, interest, taxes, and insurance.
Affordability Calculator
Find out how much home you can afford based on your income and debts.
Down Payment Calculator
Explore down payment options and understand PMI costs.
Closing Costs Estimator
Get a breakdown of expected closing costs for your purchase.
Amortization Schedule
See how your loan balance decreases over time with each payment.