The typical owner-occupied home in Panaca is worth about $263,300, 40% below the Nevada median of $435,400 and 21% below the national median of $332,700. Owners pay a median $1,219 a year in property taxes, about 0.46% of their home's value, close to the Nevada rate of 0.47%. The median household earns $64,083 a year, so the median home costs 4.1 times the median income (5.6 times for Nevada). 63% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Panaca at a glance
| Panaca | Nevada | U.S. | |
|---|---|---|---|
| Median home value | $263,300 | $435,400 | $332,700 |
| Median property tax paid per year | $1,219 | $2,027 | $3,119 |
| Property tax as a share of value | 0.46% | 0.47% | 0.94% |
| Median household income | $64,083 | $78,260 | $80,734 |
| Homes lived in by their owners | 63% | 60% | 65% |
| Owner homes with a mortgage | 33% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $997 | $1,932 | $1,963 |
| Those costs as a share of the owners' income | 14.7% | 22.3% | 21.0% |
| Median rent | $920 | $1,597 | $1,413 |
| Rent as a share of renters' income | 25.4% | 33.1% | 30.6% |
| Median year homes were built | 1958 | 1996 | 1980 |
| Vacant homes | 12.3% | 9.3% | 10.1% |
| Population | 1,015 | 3,184,612 | 334,922,499 |
What a typical home costs per month in Panaca
At this week's average 30-year rate of 7.11%, buying the median Panaca home of $263,300 with 20% down costs about $1,628 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,066, 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 $69,756 for the 20%-down payment. That payment is 30% of the median Panaca household income of $64,083; at that income and 20% down, the 28% guideline points to a home of about $242,000.
The median rent here is $920 a month, so owning the median home costs about $708 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $52,660 |
|---|---|
| Loan amount | $210,640 |
| Principal and interest | $1,417 |
| Property taxes (0.46% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| PMI | $0 |
| Total per month | $1,628 |
Change the numbers in the calculator
| Down payment | $9,216 |
|---|---|
| Loan amount | $258,531 |
| Principal and interest | $1,739 |
| Property taxes (0.46% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| FHA mortgage insurance | $116 |
| Total per month | $2,066 |
Change the numbers in the calculator
Questions about home buying in Panaca
What is the median home value in Panaca?
About $263,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Panaca?
Homeowners pay a median $1,219 a year, which is about 0.46% 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 Panaca?
For the median home with 20% down at 7.11%, the payment is about $1,628 a month. Keeping that under 28% of gross income takes about $69,756 a year.
More about Panaca
- Mortgage Refinance in Panaca
- Debt Relief in Panaca
- Home Equity Loans in Panaca
- 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