Elko, NV

Below Avg · 87

Nevada · Population 20,624 · Updated March 2026

$1,174
Median Rent / Month
$75,630
Median Income
$285,400
Median Home Value
$1,240
Owner Costs / Month

Affordability

How far your income goes in Elko

18.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Nevada

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.85%
Sales Tax
0.53%
Property Tax Rate

Estimated Annual Costs

$14,088
Annual Rent
$0
State Income Tax
$1,513
Property Tax (est.)

Cost of Living Overview

Elko offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 87 (where 100 equals the national median), Elko residents can expect to pay median rent of $1,174/month while earning a median household income of $75,630/year.

The median home value in Elko, NV is $285,400, with typical monthly owner costs around $1,240 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Nevada has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.85% sales tax rate and 0.53% effective property tax rate, the overall tax environment helps keep costs manageable in Elko.

Frequently Asked Questions

Common questions about living costs in Elko

What is the cost of living in Elko, NV?
The cost of living index in Elko, NV is 87 (US average = 100). Median monthly rent is $1,174, median household income is $75,630/year, and the median home value is $285,400.
Is Elko, NV affordable?
Yes, Elko is more affordable than the national average with a cost index of 87. The rent-to-income ratio is 18.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Elko, NV?
The median gross rent in Elko, NV is $1,174 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,088.
What is the median household income in Elko?
The median household income in Elko, NV is $75,630 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Nevada?
Nevada has a top income tax rate of 0%, a sales tax of 6.85%, and an effective property tax rate of 0.53%. Notably, there is no state income tax.