Elko, NV—89801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elko, NV
As of Oct '25, the median home price in Elko, NV is $353,000, with a year-over-year change of 3.7%. This indicates that home prices in Elko, NV are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $353,000 | 3.7% |
| Single Family | $353,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $191,000 | 3.2% |
2 Bed | $258,000 | 4.5% |
3 Bed | $342,000 | 4.0% |
4 Bed | $413,000 | 3.2% |
| 5 Bed | $488,000 | 2.5% |
% of Housing Stock
Rental Trends — Elko, NV
As of July '25, Rentcast reports the average rent in Elko, NV is $1,600, with a year-over-year rent change of -1.8%. Per bedroom, the median rent as of July '25 in Elko, NV is studios: $2,200, 1-bedrooms: $1,120, 2-bedrooms: $1,310, 3-bedrooms: $1,930, 4-bedrooms: $2,350. The most common rental property sizes in Elko, NV are 2-bedroom and 3-bedroom, accounting for 45.9% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,600 |
| Studio Rent | $2,200 | $2,200 |
| 1 Bed Rent | $1,000 | $1,120 |
| 2 Bed Rent | $1,200 | $1,310 |
| 3 Bed Rent | $2,100 | $1,930 |
| 4 Bed Rent | $2,300 | $2,350 |
% of Rental Stock
Property Listings — Elko, NV
As of Oct '25, Realtor.com reports that the median days on market for a home in Elko, NV is 115. This is a increase of 31.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $490,000 | 11.0% |
Listing Count | 128 | 14.0% |
| Listings as % of Homes | 0.7% | 14.0% |
Days on Market | 115 | 31.0% |
Demographics — Elko, NV
As of the latest ACS Survey released in 2023, Elko, NV has a population of 26,100, which has remained stable by -0.4% over the past 5 years. Elko, NV is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 16.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,100 | -0.4% |
% Under 18 | 24.5% | -7.2% |
% Seniors | 12.9% | 26.5% |
% WFH | 2.2% | -21.4% |
% w/ College Degree | 16.1% | -17.4% |
As of the latest ACS Survey released in 2023, Elko, NV is a predominantly white area, with 60.5% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Elko, NV is hispanic, making up 27.3% of the population. Foreign-born residents account for 8.1% of the population in Elko, NV, and this percentage has decreased by 16.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 60.5% | -3.5% |
% Black | 1.2% | 140.0% |
% Hispanic | 27.3% | -2.8% |
% Asian | 1.9% | 18.8% |
% Foreign Born | 8.1% | -16.5% |
Mortgage and Risk — Elko, NV
According to HUD data as of 2023, there were 399 mortgage originations in Elko, NV, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Elko, NV. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 399 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Elko, NV
Elko, NV lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 78 |
Total Units Section 8 | 78 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 77.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,000 | $1,130 |
| 2 Bedroom | $280 | $1,200 | $1,480 |
| 3 Bedroom | -$230 | $2,100 | $1,870 |
| 4 Bedroom | $190 | $2,300 | $2,490 |
Affordability — Elko, NV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $353,000 |
| Median Household Income | $83,800 |