Clark County Home Prices Fell 5% Year Over Year, ATTOM Says

National Prices, Wages, and Affordability

Nationally, ATTOM reported a metro median home price of $368,000 in the third quarter, down 1% from the second quarter and 2% from a year earlier. The release also said interest rates are "approaching highs last seen in 2023," and that the consumer price index rose through the third quarter.

ATTOM calculates the income needed to cover major monthly ownership costs on a median-priced home, assuming a 20% down payment and keeping those costs at no more than 28% of income. On that method, owning the median U.S. home would require an annual wage of $90,191, based on a $73,600 down payment, a $294,400 loan, and monthly mortgage, property tax, and insurance payments within the 28% guideline. The average national wage is $79,534, according to Bureau of Labor Statistics data cited by ATTOM.

In 80.1% of the 583 counties in the analysis, major monthly home expenses exceeded the typical resident’s wages, ATTOM reported.

According to ATTOM data reported by Nevada Current, average wages were $67,678 in Clark County and $73,970 in Washoe County, and neither would support buying a median-priced home in those counties under ATTOM’s affordability method.

Rob Barber, CEO of ATTOM, said in the release: "Affordability remained a challenge in the third quarter, even as some of the underlying factors moved in a favorable direction. Home prices declined nationally and wage growth outpaced price growth in many counties, but those gains were not enough to meaningfully improve affordability across much of the country."

What This Means for Owners Weighing Rent or Sale

For owners: A lower third-quarter sale-price median than a year earlier, plus a large active listing count, can change the sale path an owner faces: more competing homes, and a median that is below recent quarters. Keeping a home as a long-term rental is a separate decision from listing it. Sale-price data do not by themselves set rents or vacancy. They also do not set carrying costs. The Property Management Firm manages primarily long-term residential rentals in the Las Vegas area and can walk through how a specific property is performing as a rental if that is the path under review. This post is market context only. It is not legal advice, tax advice, or investment advice. It also does not say which path fits any one owner.

For renters: ATTOM’s report is about purchase prices and wage affordability, not asking rents. Higher sale inventory can coexist with a separate rental market. Our FAQ covers common questions about applying for one of our homes, and you can browse current rental listings.

Owners who want a calm read of the local sale and rental picture can also review our market updates for prior monthly context. None of those pages replaces a conversation about a specific address.