The typical owner-occupied home in Silver Springs is worth about $244,400, 44% below the Nevada median of $435,400 and 27% below the national median of $332,700. Owners pay a median $865 a year in property taxes, about 0.35% of their home's value, lower than the Nevada rate of 0.47%. The median household earns $48,944 a year, so the median home costs 5.0 times the median income (5.6 times for Nevada). 85% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Silver Springs at a glance
| Silver Springs | Nevada | U.S. | |
|---|---|---|---|
| Median home value | $244,400 | $435,400 | $332,700 |
| Median property tax paid per year | $865 | $2,027 | $3,119 |
| Property tax as a share of value | 0.35% | 0.47% | 0.94% |
| Median household income | $48,944 | $78,260 | $80,734 |
| Homes lived in by their owners | 85% | 60% | 65% |
| Owner homes with a mortgage | 53% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,469 | $1,932 | $1,963 |
| Those costs as a share of the owners' income | 27.0% | 22.3% | 21.0% |
| Median rent | $1,201 | $1,597 | $1,413 |
| Rent as a share of renters' income | 33.6% | 33.1% | 30.6% |
| Median year homes were built | 1993 | 1996 | 1980 |
| Vacant homes | 13.2% | 9.3% | 10.1% |
| Population | 5,060 | 3,184,612 | 334,922,499 |
What a typical home costs per month in Silver Springs
At this week's average 30-year rate of 7.11%, buying the median Silver Springs home of $244,400 with 20% down costs about $1,488 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,896, 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 $63,789 for the 20%-down payment. That payment is 36% of the median Silver Springs household income of $48,944; at that income and 20% down, the 28% guideline points to a home of about $188,000.
The median rent here is $1,201 a month, so owning the median home costs about $287 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,880 |
|---|---|
| Loan amount | $195,520 |
| Principal and interest | $1,315 |
| Property taxes (0.35% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| PMI | $0 |
| Total per month | $1,488 |
Change the numbers in the calculator
| Down payment | $8,554 |
|---|---|
| Loan amount | $239,973 |
| Principal and interest | $1,614 |
| Property taxes (0.35% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| FHA mortgage insurance | $108 |
| Total per month | $1,896 |
Change the numbers in the calculator
Questions about home buying in Silver Springs
What is the median home value in Silver Springs?
About $244,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Silver Springs?
Homeowners pay a median $865 a year, which is about 0.35% 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 Silver Springs?
For the median home with 20% down at 7.11%, the payment is about $1,488 a month. Keeping that under 28% of gross income takes about $63,789 a year.
More about Silver Springs
- Mortgage Refinance in Silver Springs
- Debt Relief in Silver Springs
- Home Equity Loans in Silver Springs
- 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