Cost of Living & Housing in Nevada
Nevada's cost of living centers on a real, genuine affordability advantage in housing, paired with a comparatively strong median household income and a property tax rate close to Story County's own median.
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Learn moreA real, disclosed housing-price cross-source spread
Nevada's housing figures carried a real, disclosed cross-source spread this pass: the 2024 ACS-cited median property value ran approximately $182,400, while Redfin's own separately cited median sale price ran a higher approximately $226,000 (down 4.3% year-over-year, most recent month reviewed) -- either figure genuinely affordable relative to the national median (base record).
A property tax rate close to Story County's own median
Nevada's own effective property tax rate ran a real, disclosed 1.50% this pass (Ownwell), running close to Story County's own median effective rate of 1.42% -- within a real, wide intra-county range from 1.12% in State Center to 1.70% in Slater (base record).
A comparatively strong median household income
Nevada's median household income ran approximately $75,094 (2024 ACS) -- a real, modest, disclosed decline from the prior year's $75,221, but genuinely higher than several other small Iowa markets this project has profiled (base record).
Iowa's 3.8% flat income tax applies regardless of city
Iowa's real, current flat 3.8% state income tax rate (2026) and full Social Security/retirement-income exemptions for residents 55+ apply in Nevada as they do statewide (base record).
Key takeaways
- Nevada's housing runs a real, disclosed $182,400-$226,000 depending on source and measurement method -- genuinely affordable either way.
- Nevada's 1.50% effective property tax rate runs close to Story County's own 1.42% median.
- Median household income (~$75,094) runs comparatively strong for a small Iowa market, though it dipped modestly year-over-year.
- Iowa's statewide 3.8% flat income tax and full retiree exemptions both apply in Nevada.
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