The typical owner-occupied home in Fernley is worth about $366,700, 16% below the Nevada median of $435,400 and 10% above the national median of $332,700. Owners pay a median $1,964 a year in property taxes, about 0.54% of their home's value, higher than the Nevada rate of 0.47%. The median household earns $89,517 a year, so the median home costs 4.1 times the median income (5.6 times for Nevada). 72% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Fernley at a glance
| Fernley | Nevada | U.S. | |
|---|---|---|---|
| Median home value | $366,700 | $435,400 | $332,700 |
| Median property tax paid per year | $1,964 | $2,027 | $3,119 |
| Property tax as a share of value | 0.54% | 0.47% | 0.94% |
| Median household income | $89,517 | $78,260 | $80,734 |
| Homes lived in by their owners | 72% | 60% | 65% |
| Owner homes with a mortgage | 72% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,873 | $1,932 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 22.3% | 21.0% |
| Median rent | $1,570 | $1,597 | $1,413 |
| Rent as a share of renters' income | 28.2% | 33.1% | 30.6% |
| Median year homes were built | 2001 | 1996 | 1980 |
| Vacant homes | 3.9% | 9.3% | 10.1% |
| Population | 24,225 | 3,184,612 | 334,922,499 |
What a typical home costs per month in Fernley
At this week's average 30-year rate of 7.11%, buying the median Fernley home of $366,700 with 20% down costs about $2,291 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,902, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $98,197 for the 20%-down payment. That payment is 31% of the median Fernley household income of $89,517; at that income and 20% down, the 28% guideline points to a home of about $334,000.
The median rent here is $1,570 a month, so owning the median home costs about $721 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $73,340 |
|---|---|
| Loan amount | $293,360 |
| Principal and interest | $1,973 |
| Property taxes (0.54% a year) | $165 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| PMI | $0 |
| Total per month | $2,291 |
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| Down payment | $12,834 |
|---|---|
| Loan amount | $360,058 |
| Principal and interest | $2,422 |
| Property taxes (0.54% a year) | $165 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| FHA mortgage insurance | $162 |
| Total per month | $2,902 |
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Questions about home buying in Fernley
What is the median home value in Fernley?
About $366,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fernley?
Homeowners pay a median $1,964 a year, which is about 0.54% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fernley?
For the median home with 20% down at 7.11%, the payment is about $2,291 a month. Keeping that under 28% of gross income takes about $98,197 a year.
More about Fernley
- Mortgage Refinance in Fernley
- Debt Relief in Fernley
- Home Equity Loans in Fernley
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data