So, the latest rumor for the next Nexus is that it's going to be based on the LG G4. This is actually great news, especially if they keep the camera! The Nexus 5 is actually loosely based on the LG G2.
There's also a new Nexus 5 (2015) coming out later this year that may be worth waiting for. It will have a Snapdragon processor & 3gb of ram if what i read is correct. Also it will have a 20mp camera.