Nevada, Florida and Texas are three of the most popular states for people chasing sunshine and a lower cost of living, and all three skip a state income tax on wages. But for a middle-class family trying to buy a home, the bills that matter most are the mortgage, the property tax and the homeowners insurance. We ran the numbers on a median-priced home in each place, and the winner depends on which bill you’re most worried about.
Watch: Yolonda breaks down the numbers
Key takeaways
- Texas has the cheapest homes and the lowest monthly housing cost, but the highest property taxes of the three.
- Florida is the toughest squeeze: the lowest typical income and, by one major estimate, homeowners insurance above $8,000 a year.
- Nevada costs more up front, but it has the lowest property tax rate and the cheapest homeowners insurance of the three.
The paycheck
The median household earns about $80,000 a year in Nevada, about $80,800 in Texas and about $75,200 in Florida, according to Current Population Survey data compiled by DQYDJ (2024 income). That gap means a typical Florida household starts roughly $5,000 a year behind before it ever looks at a house.
Buying the house
The median single-family home in Southern Nevada sold for $470,000 in September, unchanged from a year earlier, according to Las Vegas Realtors. Florida Realtors put the statewide single-family median at $415,000 in September. In Texas, the statewide median was about $339,000 in July, according to the Texas Real Estate Research Center at Texas A&M.
Mortgage rates are high everywhere. Freddie Mac’s 30-year fixed average was 7.24% on Oct. 29. With 10% down, principal and interest on a median-priced home works out to about $2,883 a month in Las Vegas, $2,545 in Florida and $2,079 in Texas.
Property taxes
This is where Nevada shines. Its effective property tax rate is about 0.50%, compared with about 0.78% in Florida and about 1.40% in Texas, based on Tax Foundation figures. On a median home, that’s roughly $2,350 a year in Las Vegas, $3,237 in Florida and $4,746 in Texas. Nevada also limits how much the tax on an owner-occupied home can rise each year, which keeps bills predictable.
Homeowners insurance
Insurance.com’s 2026 study puts the average yearly homeowners premium at about $1,876 in Nevada, $4,582 in Texas and $8,471 in Florida, for a policy with $300,000 in dwelling coverage. Hurricanes, flooding and hail drive the difference. Estimates vary a lot by study and policy: NerdWallet’s 2026 averages put Florida closer to $2,845 and Texas at $4,915. Every estimate we found ranks Nevada below both states.
The monthly bill
| Nevada (Las Vegas) | Florida | Texas | |
|---|---|---|---|
| Median home price | $470,000 | $415,000 | $339,000 |
| Principal & interest / month | $2,883 | $2,545 | $2,079 |
| Property tax / year | $2,350 | $3,237 | $4,746 |
| Homeowners insurance / year | $1,876 | $8,471 | $4,582 |
| Housing total / month | $3,235 | $3,521 | $2,857 |
| Share of median income | 49% | 56% | 42% |
| Full-coverage car insurance / month | $335 | $311 | $247 |
| Average state + local sales tax | 8.24% | 6.98% | 8.20% |
Housing total = principal and interest at 7.24% with 10% down, plus property tax and homeowners insurance. It does not include HOA dues, flood insurance or mortgage insurance. Nevada figures use the Las Vegas median price; Florida and Texas use statewide medians.
In all three states, housing on a median home eats far more than the roughly one-third of income lenders like to see.
Everyday costs
Car insurance is pricey in all three, and Nevada is the most expensive: ValuePenguin puts full coverage at about $335 a month in Nevada, $311 in Florida and $247 in Texas. Average combined sales tax is about 8.24% in Nevada, 8.20% in Texas and 6.98% in Florida, according to the Tax Foundation.
What it means for locals and visitors
Texas offers the lowest monthly housing cost, but its high property taxes can climb as home values rise. Florida’s insurance market makes it the hardest of the three for a middle-class buyer right now. Nevada asks for more money at closing, and drivers pay more for car insurance, but low property taxes and cheap homeowners insurance make Las Vegas the most predictable of the three for a family that can manage the down payment. Your actual costs will depend on your city, credit, home and coverage, so get quotes from a local lender and insurance agent before you buy.
Coming to Vegas? Practice craps, roulette, blackjack, baccarat and slots for free on our casino simulator before you play for real.
Sources
- News 3 LV: Las Vegas Realtors September 2026 data
- Florida Realtors September 2026 market report
- Texas Real Estate Research Center: Texas Housing Insight
- Freddie Mac: Mortgage rates decline further to 7.24%
- Property tax rates by state 2026 (Tax Foundation data)
- Insurance.com: Average homeowners insurance rates by state
- NerdWallet: Average homeowners insurance cost
- ValuePenguin: State of Auto Insurance 2026
- Tax Foundation: State and local sales tax rates
- DQYDJ: Income by state
For informational purposes only; not financial, investment or legal advice.