State hub
Home appreciation in Nevada
Nevada's FHFA HPI® all-transactions index changed +2.5% over the year to Q2 2026, versus +3.0% nationally, ranking 38th of 51 states and D.C. Below, compare its 7 3-digit ZIP regions and 3 metro areas.
- 1-year change
- +2.5%
- 5-year change
- +35.4%
- Since Q1 1995
- +285%
- State rank (1 year)
- 38th
U.S. +3.0%
40th of 51
U.S. +292%
of 51 states and D.C.
Nevada vs the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Nevada: 384.9
- United States: 391.6
Nevada appreciation by time window
| Window | NV | U.S. | Gap vs U.S. |
|---|---|---|---|
| 1 year | +2.5% | +3.0% | −0.6 pts |
| 3 years | +12.3% | +12.9% | −0.5 pts |
| 5 years | +35.4% | +41.3% | −5.9 pts |
| 10 years | +114% | +93.3% | +20.4 pts |
| Since Q1 1995 | +285% | +292% | −6.7 pts |
3-digit ZIP regions in Nevada
Fastest-appreciating ZIP codes in Nevada →Sorted by one-year change. 5 of 7 regions beat the national one-year change of +3.0%. Place labels name the largest community in each region.
| # | 3-digit ZIP region | 1 year | 5 years | 10 years | Since Q1 1995 |
|---|---|---|---|---|---|
| 1 | 894 · Sparks, NV area | +4.8% | +31.0% | +111% | +296% |
| 2 | 893 · Ely, NV area | +4.7% | +36.5% | +107% | +275% |
| 3 | 898 · Elko, NV area | +4.7% | +36.5% | +107% | +275% |
| 4 | 897 · Carson City, NV area | +3.6% | +30.4% | +111% | +301% |
| 5 | 895 · Reno, NV area | +3.4% | +31.3% | +107% | +322% |
| 6 | 891 · Las Vegas, NV area | +0.9% | +39.7% | +124% | +277% |
| 7 | 890 · Henderson, NV area | -2.3% | +31.9% | +108% | +259% |
Metro areas in Nevada
| Metro area | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|
| Reno, NV | +3.8% | +30.3% | +314% |
| Las Vegas-Henderson-North Las Vegas, NV | +2.8% | +41.9% | +285% |
| Carson City, NV | +2.2% | +27.7% | +288% |
Boom, bust, and recovery in Nevada
Nevada's index peaked in Q3 2006, fell 55.7% to its low in Q2 2012, and regained its peak in Q2 2020, about 13.8 years after the top. Today it sits +55.4% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| NV | Q3 2006 | Q2 2012 | -55.7% | Q2 2020 (13.8 yrs) | +55.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Nevada's index has changed +73.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | NV after inflation | U.S. after inflation |
|---|---|---|---|
| 1 year | +3.9% | -1.4% | -0.8% |
| 3 years | +9.8% | +2.3% | +2.8% |
| 5 years | +24.0% | +9.1% | +13.9% |
| 10 years | +39.1% | +53.7% | +39.0% |
| Since Q1 1995 | +121% | +73.8% | +76.8% |
If you bought in Nevada in…
An example $300,000 purchase grown at the statewide index rate to Q2 2026. Local markets within the state vary widely.
| Bought in | Index change | $300,000 then, at the state rate |
|---|---|---|
| Q2 1995 | +277% | $1,129,797 |
| Q2 2000 | +233% | $999,409 |
| Q2 2005 | +71.6% | $514,905 |
| Q2 2010 | +197% | $891,726 |
| Q2 2015 | +134% | $701,079 |
| Q2 2020 | +55.0% | $464,859 |
| Q2 2021 | +35.4% | $406,113 |
| Q2 2023 | +12.3% | $336,919 |
| Q2 2025 | +2.5% | $307,360 |
Frequently asked questions
- How much have home prices gone up in Nevada?
- FHFA HPI® data for Nevada shows the all-transactions index changed +2.5% over the year to Q2 2026, +35.4% over five years, +114% over ten years, and +285% since Q1 1995.
- Is Nevada appreciating faster than the national average?
- Over the past year Nevada's index moved −0.6 pts versus the U.S. (+3.0%), ranking 38th of 51 states and D.C. Over five years the gap is −5.9 pts.
- Which ZIP codes in Nevada are appreciating fastest?
- Over the past year the strongest of 7 3-digit ZIP regions in Nevada was ZIP3 894 (Sparks, NV area) at +4.8%, and the weakest was ZIP3 890 (Henderson, NV area) at -2.3%. 5 of 7 beat the national one-year change.