Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,205, 3,411 total housing units (homes and apartments), and a median house value of $138,887, house prices in Nevada are some of the most affordable in Missouri as well as the nation.
Single-family detached homes are the single most common housing type in Nevada, accounting for 79.71% of the city's housing units. Other types of housing that are prevalent in Nevada include duplexes, homes converted to apartments or other small apartment buildings ( 14.51%), large apartment complexes or high rise apartments ( 4.16%), and a few row houses and other attached homes ( 1.63%).
People in Nevada primarily live in small (one, two or no bedroom) single-family detached homes. Nevada has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Nevada's housing was primarily built during this period, from the '40s through the '60s. A full 31.42% of the city's housing hails from this era. Other housing ages represented in Nevada include homes built before 1939 ( 30.49%) and housing constructed between 1970-1999 ( 29.95%). There's also some housing in Nevada built between 2000 and later ( 8.13%).
Vacant housing appears to be an issue in Nevada. Fully 11.93% of the housing stock is classified as vacant. Left unchecked, vacant Nevada homes and apartments can be a drag on the real estate market, holding Nevada real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Nevada's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Nevada during the period has been just 4.93%, which is lower than 80% of US communities.
Over the last year, Nevada appreciation rates have trailed the rest of the nation. In the last twelve months, Nevada's appreciation rate has been -1.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Nevada were at -0.73%, which equates to an annual appreciation rate of -2.90%.
Notably, Nevada's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Missouri, our data show that Nevada's latest annual appreciation rate is lower than 90% of the other cities and towns in Missouri.
$138,887
for Missouri
for nation
3,411
$1,174 / per month