Located approximately 16 miles southeast of Las Vegas, Henderson’s 320,000 residents make it the second-largest city in Nevada. The Henderson housing market is competitive, so if you’re looking to relocate, having a handy real estate guide is just as important as hiring a skilled local realtor. That said, here is everything you need to know about buying a home in Henderson, NV.
Top reasons to buy a house in Henderson NV
Low tax burdens
One of the best parts of living in Henderson is taking full advantage of the state of Nevada’s low taxes. Nevada is one of only nine states that does not levy any individual income tax
. Additionally, the state does not impose corporate, inheritance, or estate taxes. The current sales tax of 8.23 percent in Nevada is slightly higher compared to other states; however, that extra money is used to fund public schools, maintain roads, and pay state employees.
Access to incredible dining and shopping options
Given Henderson’s close proximity to the Las Vegas strip, residents can enjoy a bountiful list of restaurants and shops. Vegas, among other things, is known for its world-class dining, which means you will never get tired of trying new eateries. Going further, by choosing to live in Henderson, rather than in Las Vegas, you will have access to all these great dining options without having to deal with living amongst the strip’s many visitors.
Henderson was named the greenest city in Nevada
Henderson ranked high among sustainable cities nationwide and is widely considered the greenest city in Nevada. Thanks to the area’s emphasis on environmentally-friendly practices, the city has higher-than-average air quality and purity. This is especially great for people with certain lung conditions, such as asthma.
Best neighborhoods in Henderson
Green Valley South
One of the most sought-after neighborhoods in Henderson is Green Valley South. Known for its beautiful homes, outstanding eateries, and local parks, Green Valley South is a great option for both families and retirees buying a home in Henderson NV.
Anthem is a neighborhood in Henderson that offers residents a sparse urban feel. This Clark County community also boasts a number of local parks for residents to enjoy. The neighborhood consists of several highly-rated public schools, which is perfect for families relocating to the area.
This neighborhood in Henderson has a population of around 13,000 residents. MacDonald Ranch is an excellent option for retirees as the community offers a sparse suburban feel. You will find numerous coffee shops and parks throughout the neighborhood.
Facts about buying a house in Henderson
Median house price
As of February 2023, the median price for a house in Henderson NV was about $500,000
, a higher figure than what they sold for last year at this same time. Still, Henderson is considered to be a neutral housing market, meaning it favors neither seller nor buyer. At the close of 2022, the median home price in the Las Vegas-Henderson-Paradise area was about $440,000
If you’re buying a home in Henderson, NV, you will need to factor in closing costs. While these costs vary from place to place, homes sold in Nevada
typically see closing costs that range from 1.4 to 1.86 percent of the final sale price. This would put the average amount of closing costs around $6,000 in Henderson. Still, there are ways to reduce that cost.
Property taxes in Nevada are assessed and collected by individual counties. Clark County has an average tax rate of 0.640 percent
. This means if you buy a home valued at $500,000, you can expect to pay about $3,200 per year in property taxes.
Money-saving tips for buying a home in Henderson
Find the best mortgage rate
To find the best mortgage rate available, you can rely on a number of steps: improve your credit score, build a steady record of employment, and save for a bigger down payment. Understanding your debt-to-income (DTI) ratio is also important. Your DTI ratio essentially compares the amount of money you owe to the amount you make. Lenders typically prefer a lower DTI ratio. Additionally, to find the best mortgage rate, you’ll want to compare multiple lenders and even consider alternative types of loans.
Make a down payment of at least 20 percent
Realtors usually recommend making a down payment of at least 20 percent when buying a home. Doing so not only reduces your monthly mortgage payment amount but also allows you to avoid buying private mortgage insurance
(PMI). PMI basically protects lenders in the event you default on your mortgage loan.
Increase your credit score
Your credit score number significantly impacts your mortgage rate. The lower the number, the higher the rate. Therefore, if you’re looking to buy a house, try to increase your credit score as fast as possible. Paying down your debt is one of the best ways to increase your credit score.
Ready to move to Henderson?
As shown above, Henderson is an excellent city for people looking to move to the state of Nevada. With no individual income tax and access to incredible restaurants nearby, you can not go wrong moving to this Clark County city. And if you’re buying a home in Henderson NV, you will need a local real estate agent that knows the area well. Your agent can help you navigate the market to find the best options in housing available.
Enter MDB Realty
. This is an award-winning brokerage whose agents have helped many people find the Henderson home of their dreams. Whether you’re in the market to buy or sell, MDB Realty has the resources and experience to actualize your goals. Contact the team
today.*Header photo courtesy of MDB Realty