Cost of Living in Topaz Lake, NV

With a cost of living index of 133, Topaz Lake, NV is a notably expensive place to live. Living here is 33% more expensive than the national average and 24% above the Nevada state average of 109. Topaz Lake is a small community of 306 residents.

Housing costs are the biggest factor in Topaz Lake's cost of living. The median monthly rent is $1,727 (31% above the US median of $1,319), and the median home value sits at $565,800 (86% above the national median of $304,900). At current prices, the median home costs roughly 5.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Topaz Lake is $98,750, which is 31% higher than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Topaz Lake. The area sees an average annual temperature of 44.2°F, with summers averaging 59°F and winters around 31°F. Annual rainfall totals 20.5 inches spread over roughly 75 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.