Real Estate

Elko Nevada Real Estate Market

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The Elko Nevada Real Estate Market is difficult to understand. I have lived in Elko for a long time. What stands out to me most is how expensive it is to rent an apartment. I think houses are way overpriced. I don’t see how people can afford them. My goal is to rent for as long as possible. In order to save money and to avoid long term debt, I would like to wait to buy a house so I can see how the market unfolds.

Elko Nevada Real Estate Market

Where are things headed for Elko?

Well, the mines are a great place to have a job. This little town is behind in technology. Uber has not arrived yet, but Lyft has. These are two very popular ride-sharing programs designed to bring convenience for travelers who need transportation. I have also noticed the grocery stores don’t have much of an online shopping experience where customers can order from their phone and have the groceries delivered to the car. Elko is playing catch up!

Why is the Elko Nevada Real Estate Market too high?

People are buying things they can’t afford.

I see it all the time. Every day people are driving trucks that cost way to much. They are focused on the looks of the vehicle. They should be focusing on the cost of ownership. Do you need a truck to live here in Elko? No, because I have a car and I make it just fine. Young people are also spending their money on single-family homes. The idea sounds good, but most of these properties do not cash flow. Debt payments are too high.

Elko Nevada Real Estate Market

You would think in a small town the prices of homes would be more affordable. They’re not! Some of these tiny houses on the tree streets are way overpriced. They are asking way too much for them.

Another item to look at is the number of good jobs located in the town. In my opinion, you have to be patient when looking for work because hiring managers are picky when it comes to candidates. It may take a while to land a really good job. The Elko Nevada Real Estate Market is not totally bad. However, I would keep my cash for the time being because who knows where things are going.


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Carl Schultz

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