When most of my first-time buyers describe their dream home, it sounds about the same: a single-family house, a yard for the dog, a two-car garage and room to grow. That is a great goal. But in today's market, trying to get all of it in your very first purchase can push the payment well past what feels comfortable. That is why I want to talk about an option a lot of buyers skip right over: condos and townhomes.
The Big Idea: Your First Home Does Not Have to Be a House
A recent article from Keeping Current Matters makes the case that condos deserve a spot on your search, especially if you have been struggling to find a house that fits your budget. Citing research from Zillow, it notes that condos are the most commonly affordable type of home in nearly every major metro area, and that starter condos nationally run a bit less than a typical starter house. In some markets the gap is much bigger.
The reasons are simple. Condos and townhomes are usually smaller, so they cost less to buy, and often less to furnish and maintain. The article also points out that more buyers today are open to attached homes because of the value, not because they love shared walls. Of course there are trade-offs, like less private outdoor space and an HOA fee that has to fit in your monthly budget. On the plus side, many communities offer pools, gyms and exterior maintenance, which can make the jump from renting a lot easier.
What This Means in Henderson and the Las Vegas Valley
Here is how the numbers look locally. As of October 2026, the MLS shows:
- Single-family homes in Henderson: about 1,830 active listings, averaging roughly $350 per square foot. Homes that sold over the last three months averaged about $295 per square foot and around 2,400 square feet.
- Condos and townhomes in Henderson: about 495 active listings, with an average list price near $410,000 and roughly $265 per square foot. About 250 sold in the last three months, at around $260 per square foot.
- Under $400,000: roughly 350 condos and townhomes are listed in that range, compared with only about 170 single-family homes.
In other words, if your budget tops out around $400,000, condos and townhomes give you about twice as many homes to choose from in Henderson right now. Many of them are newer townhomes in master-planned areas like Cadence and Inspirada, with garages and modern floor plans, so you may give up less than you think.
Tips for Henderson Buyers Considering a Condo or Townhome
- Budget for the full monthly cost. Add the HOA dues (and any master association fee) to your mortgage, taxes and insurance before you decide what you can afford.
- Read the HOA documents. In Nevada you receive a resale package. Look at reserves, rules, pet and rental limits, and any planned special assessments.
- Ask your lender about financing early. Some condo projects have extra loan requirements, especially for FHA and VA loans, so confirm the community qualifies.
- Compare townhomes, too. Many townhomes here come with an attached garage and a small patio, a nice middle ground between a condo and a house.
- Think about your next move. Building equity in a condo now can help you trade up to a single-family home later.
If you have been searching only for houses and feeling stuck, it may be time to widen the search. I am happy to set up a custom search that includes condos and townhomes in the parts of Henderson and the Valley you like best.
Read the full article from Keeping Current Matters
Questions about buying your first home in Henderson, Las Vegas, Boulder City or North Las Vegas? Contact Kevin Callahan
Photo: Lake Las Vegas aerial view by Carol M. Highsmith, public domain, via Wikimedia Commons
Market figures are from the MLS as of October 2026, are rounded, and change daily.