Nevada City, CA Housing Market Trends and Prices

Table of Content

• Typical home price in Virginia: $379,206 (88% of typical U.S. price)
• Entertainment & Miscellaneous Costs in Nevada vs. California
• Nevada City Housing Market
• Typical home price in Nevada: $484,530 (113% of typical U.S. price)
• Typical home price in Louisiana: $214,522 (50% of typical U.S. price)
• Days to close
• Typical home price in Utah: $588,862 (137% of typical U.S. price)

Different lenders will offer different APRs, and even a small amount here can result in big long-term savings. The Zillow Home Value Index isn't an average, but it represents the typical home value in a given area. Many or all of the products here are from our partners that pay us a commission. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. For a simple, stress-free transaction, consider selling to pre-approved iBuyers ready to make offers on your home. Get cash offers with HomeLight Simple Sale, the fastest way to sell your home.

Kansas is another state that combines cheap housing prices with a median income around the national median (8% above), which makes it affordable to buy a home there. Are among the most highly valued in the U.S., yet despite its median income being 31% above the national median, the average mortgage payment still far exceeds the 28% rule. Mortgage payments take up a big chunk of homeowner' 'budgets in Arizona. That's due to a combination of high housing costs and a median income 1% below the national median. West Virginia has the cheapest home prices according to Zillow at 40% of the typical U.S. price.

Typical home price in Virginia: $379,206 (88% of typical U.S. price)

Now, let's take a deeper dive into what average house prices are like across the country. Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Only mortgage transactions on single-family properties are included. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity. Average mortgage payments were calculated based on a 12% down payment and using the typical home prices and the average mortgage rates for each area as of July 2022.

Here are the typical home prices in all 50 states, the typical value of a single-family home, and the average mortgage rate as of early August 2021. In addition, we've calculated how much an average mortgage payment in each state would cost in comparison to its median income. The most affordable housing in the country goes to West Virginia. Its median income may be 24% less than the nationwide median, but it also has the lowest typical house price and average mortgage payment. Mortgage transactions on condominiums or multi-unit properties are also excluded.

Entertainment & Miscellaneous Costs in Nevada vs. California

With inexpensive housing, Indiana is one of the easier states to be a homeowner. The median income is 2% lower than the U.S. median, but residents still don't need to spend too much of that income on their mortgages. According to the Federal Reserve Bank of St. Louis, the median home sales price is $428,700. With a statewide average rent of $1,107, Nevada is one of the more affordable states for renters. However, your actual rate will depend on the city you live in Nevada and as the state continues to grow, certain areas are seeing rental prices steadily rise.

Even though the median income is 15% higher than the U.S. median, extremely high prices put housing out of reach for many residents. Taxpayers in Nevada get to enjoy one of the most tax-friendly situations in the nation. Whether you’re a doctor, teacher, real estate agent, or entertainer, you do not have to pay any state taxes on your earnings in Nevada. While you’ll still have to pay federal income taxes, wages, inheritances, winnings, and capital gains are all devoid of income taxes at the state level. Though, the median home price even in Las Vegas, the most populous city in Nevada, is only $334,000.

Nevada City Housing Market

The September event includes the unique Marching Presidents parade. The parade is one of the oldest observances of Constitution Day in the western United States. The community hosts two film festivals every year, the Wild and Scenic Film Festival and the Nevada City Film Festival. The former was founded in 2003, and it focuses on films devoted to environmental issues and extreme sports. The latter has quickly evolved into a well-known international film festival.

That’s despite housing prices just below the national median and median income 40% above the national median. While Alabama has a low median income (19% below the national median), its typical house prices are even lower. Because of that, residents don't pay too much for their mortgages. This resulted in one of the biggest seller's markets in history, although that may be changing as mortgage rates increase and housing supply expands.

Typical home price in Illinois: $269,575 (63% of typical U.S. price)

The cost of living index in Nevada is 110.5, meaning it is nearly 11% more expensive to live in Nevada than the national average . California, on the other hand, has a cost of living index of 149.9, so it is quite a bit more expensive than both Nevada and the national average. The median price of a home in Nevada is $358,400, which is about 23% higher than the national average of $291,700. Meanwhile, the median home price in California is $684,800 – a staggering 91% more than Nevada. Average market rent is exclusively developed by NeighborhoodScout.

The median home value is more stable than the average home value, which can be greatly affected by a few very high or very low home values. The average overall walking score of neighborhoods in Nevada City, CA is 0 which means it is a little more difficult to walk to nearby businesses and points of interest. Since it is a little more difficult to get around town in Nevada City, CA you will definitely need a bike or car to get around. Check out Nevada City, CA HUD homes for sale, which may include auction properties, for sale by owner, and more.

Typical home price in Nevada: $484,530 (113% of typical U.S. price)

Appreciation rates are updated by NeighborhoodScout each quarter as additional mortgages are purchased or securitized by Fannie Mae and Freddie Mac. The new mortgage acquisitions are used to identify repeat transactions for the most recent quarter, then are fed into NeighborhoodScout's search algorithms. Our data are designed to capture changes in the value of single-family homes at the city, town and even the neighborhood level. Different neighborhoods within a city or town can have drastically different home appreciation rates.

Mortgage payments on a typically priced home equal 30.7% of the U.S. median income. Check out HomeLight’s Quarterly Top Agent Insights report, a national survey of over 500 top real estate agents. Hear what agents are saying across the country and make smarter decisions when buying or selling a home.

Typical home price in Louisiana: $214,522 (50% of typical U.S. price)

Whereas, in Los Angeles, the median home price is almost three times higher – over $880,000. While housing prices in Nevada may be higher than other states in the U.S., it is still almost 100 percent more affordable to buy a home in Nevada than California. Currently, there are 113 homes listed in Nevada City which include 1 condos, 0 foreclosures. Get started by checking out the most popular home & the most saved home by Coldwell Banker homebuyers in the last 30 days. When you are ready to explore homes, read what Coldwell Banker agents have to say about Nevada City and discover homes for sale in Nevada City. NeighborhoodScout reveals the home appreciation rates for every city, town, and even most neighborhoods in America.