Southern Nevadans earn lower wages and are seeing a faster rise in home prices than people in most major cities.
Overall, however, housing is more affordable than in many markets, a new report shows.
Clark County residents earned an average of $845 a week in the second quarter, sixth lowest among the 50 largest counties in the U.S., according to an analysis of data from RealtyTrac. Wages here were up 2.4 percent from a year earlier, tied for the 14th-slowest growth rate.
Home prices in Clark County, meanwhile, grew 10.2 percent in the past year, to a median $195,000 in the third quarter.
That was the seventh-fastest growth rate, according to RealtyTrac’s data, even though the market has cooled considerably the past few years as bargain-hunting investors pulled back from Las Vegas.
Clark County’s median sales price tied for 16th-lowest among the counties, and homeowners pay an average 33.8 percent of their monthly wages on house payments, 22nd lowest.
RealtyTrac, based in Irvine, Calif., said its report was based on data from the U.S. Department of Housing and Urban Development, the U.S. Bureau of Labor Statistics and county property records.