Calculate using real Las Vegas data. Median home price: $395,000. Property tax rate: 0.6%.
With the median household income of $58,587 in Las Vegas, NV, following the 28% rule, you could afford a monthly payment of about $1,367.
The cost of living index in Las Vegas, NV is 102 (national average = 100). A home at the median price of $395,000 would require roughly 6.7x the median income.
A conventional 20% down payment on the median Las Vegas, NV home ($395,000) would be $79,000. FHA loans may require as little as 3.5% ($13,825).