Nevada Reverse Mortgage - What You Need to Know


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Nevada Reverse Mortgage - What You Need to Know

Reverse mortgages in Nevada are not taxable, and generally do not affect your Social Security or Medicare benefits. You retain the title to your home, and you do not have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.

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Snapshot of Nevada

2.6 M

Population

$142,000

Median Home Value

61%

Home Ownership Rate

12%

Percent PopulationOver 65

Find Your City to Compare State and National Averages

Location Population Med. Home Value Home Ownership Rate % Population Over 65
USA 307,006,550 $119,600 66% 13%
Nevada 2,643,085 $142,000 61% 12%
Carson City 55,289 $147,500 63% 15%
Henderson 240,614 $156,000 71% 10%
Las Vegas 552,539 $137,300 59% 12%
North Las Vegas 197,567 $123,000 70% 6%
Reno 210,255 $158,700 48% 11%
Sparks 83,959 $143,700 60% 10%
Source U.S. Census Bureau: State and County QuickFacts. Data derived from Population Estimates, Census of Population and Housing, Small Area Income and Poverty Estimates, State and County Housing Unit Estimates, County Business Patterns, Nonemployer Statistics, Economic Census, Survey of Business Owners, Building Permits, Consolidated Federal Funds Report
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