Philadelphia - PA vs Las Vegas - NV: 2026 Housing Comparison

What this means for buyers

Las Vegas - NV is roughly 9% more expensive than Philadelphia - PA in typical home value. Homes sit on market longer in Las Vegas - NV (38 days vs 15), suggesting more buyer leverage there. Las Vegas - NV sees more listings with price cuts (30.3% vs 26.3%), a sign of softening seller expectations.

Philadelphia vs Las Vegas: what the numbers say

At today's 7.24% average 30-year rate with 20% down, the typical home would cost about $2,105 a month in principal and interest in Philadelphia and $2,304 in Las Vegas, a gap of $200 a month.

Typical rent runs $1,903 in Philadelphia and $1,732 in Las Vegas, so the mortgage payment alone is 1.1 times rent in Philadelphia and 1.3 times rent in Las Vegas, before taxes and insurance.

Home prices are 16.9 years of rent in Philadelphia and 20.3 in Las Vegas; the lower ratio in Philadelphia means buying there is cheaper relative to renting.

Over the last 23 months typical values moved +5.4% in Philadelphia and -3.4% in Las Vegas; over just the last three months the change was +0.7% in Philadelphia and -0.8% in Las Vegas.

Homes sell for 100.1% of list price in Philadelphia and 98.1% in Las Vegas, after 15 and 38 days on the market, with price cuts on 26% and 30% of listings. All three signs point the same way: buyers have more room to negotiate in Las Vegas.

The number of homes for sale is up 9% on a year ago in Philadelphia and up 2% on a year ago in Las Vegas.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-29), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.