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Summerlin South Real Estate Market Facts

  • $355,100Median home price
    85% higher than Nevada
  • $1,547Median rent asked
    57% higher than Nevada
  • 65.0%Home owners
    19% higher than Nevada
  • 2.4People per home
    12% lower than Nevada
The above shows an overview of the real estate market in Summerlin South, NV. Note how the median home price for Summerlin South, NV runs $355,100, which is 85% higher than the average property price for Nevada. So you’re going to get real estate in Summerlin South, NV that is on-average less affordable than what you’ll find in the rest of Nevada. As for rent, the median for Summerlin South, NV runs $1,547, which is comparatively 57% higher than the average rent for Nevada. For Summerlin South, NV, about 65.0% of the population consist of home owners with about 2.4 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Summerlin South, NV offers a wide variety of real estate. To find your perfect home in Summerlin South, NV, filter your choice by price, location, and number of beds and baths using the search area above.

Summerlin South Home Affordability

  • $355,100Median home price
    85% higher than Nevada
  • $85,126Median home income
    60% higher than Nevada
  • 4.2xHome price to income ratio
    16% higher than Nevada
When deciding where to purchase Summerlin South, NV real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Summerlin South, NV the median home price is $355,100 and $85,126 is the median household income. As a result, the home price to income ratio in Summerlin South, NV is 4.2x, which is 16% higher than the Nevada average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Summerlin South, NV the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Summerlin South, NV.

Summerlin South Affordability Calculator

Include PMI
You can afford a home up to:
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  • Monthly income
  • Monthly payment
  • Debt payment
  • Income taxes
  • Remainder
When looking for real estate in Summerlin South, NV, finding one that won't strain your budget is imperative. That's when the home affordability calculator comes in handy. It allows you to calculate the cost of a property in Summerlin South, NV, not only by considering your income, but debts and down payment amounts as well. You can personalize the home affordability calculator even further by adding in additional factors like length of mortgage term, property taxes, home insurance costs, mortgage rate, and HOA dues. The calculator will come up with an estimated cost of home ownership and display an amount that would fit within your budget. Knowing this figure will help you find a home that you can afford in Summerlin South, NV and keep you from looking at places that are out of financial reach. Therefore, you can avoid disappointment and emotional attachment to homes you would not be able to afford. Additionally, this tool allows you to balance your budget because it also calculates the amount of money left over for savings and other expenses.

Summerlin South Mortgage Calculator

Your monthly payment will be:
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  • Monthly payment
  • Mortgage
  • PMI fees
  • Property tax
  • Home insurance
  • HOA dues
If I buy a real estate in Summerlin South, NV, what can I expect to pay monthly? There are a number of different factors that will go in to determining your monthly cost. While most people understand how significant the overall price of the house goes into determining the payment amount, it's also important to know that there are a variety of other variables to consider. These include things such as property taxes, private mortgage insurance (PMI), home owner's association dues, interest rate, and how much of a down payment has been made on the house. Understanding these is a great way to reduce overall payment. For example, you can reduce the private mortgage insurance by making a down payment of 20%. The mortgage calculator above will have all of these variables already filled out with default data, but you can customize it to give you a much more accurate reading. Generally speaking, you want to keep your debt to income ratio at about 36% when calculating your monthly house payment, which means paying no more than 36% of your monthly salary towards your housing and other debts.

Summerlin South Demographics

  • 25,717Population
  • 2,655People / sq mile
  • 45.3Median age
  • 1.0:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Sunrise Manor, NV192,873$117,10037%
Winchester, NV27,986$128,30031%
North Las Vegas, NV230,436$161,50013%
Paradise, NV229,666$169,8008%
Las Vegas, NV613,295$184,9000%
Summerlin South, NV25,717$355,10092%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Cave Spring, VA25,719$201,7009%
Green, OH25,713$173,6006%
Zionsville, IN25,709$343,40086%
Laurel, MD25,703$235,80028%
Statesville, NC25,731$135,30027%
Summerlin South, NV25,717$355,10092%
Source: The Summerlin South, NV housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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