It’s surprisingly not what you would think!
Las Vegas has a reputation for the glitz and glamor you’ll find on The Strip, with some of the world’s most renowned and luxurious hotels and casinos. So it must be expensive to live here, right? Nope, Las Vegas is actually much more affordable to live in than many other cities. By the end of this piece, you will have a better understanding of what it takes financially to live in the city of ultimate entertainment
Las Vegas is the third fastest-growing city in the United States and has quickly become a bucket list destination for good reason! There’s so much more than meets the eye to Las Vegas – and no, we do not live in hotels or casinos – which makes it an ideal home for those that enjoy the outdoors, picturesque desert landscapes, beautiful master-planned communities, all within an arm’s reach of some of the best culinary experiences and entertainment in the world.
Here are some of the best reasons you should consider moving to The Silver State, and how it compares to others around the United States:
Las Vegas is nestled in a valley, so you get stunning 360 mountain views no matter where you are!
No it’s not just a bunch of rolling sand dunes with nothing in sight
Las Vegas doesn’t have State Income Tax, and there are no taxes on food or medicine like you would see in other states. Your wallet will thank you!
Las Vegas has fantastic weather
If you enjoy sunshine, then Las Vegas is the city for you! Averaging 294 sunny days a year, Las Vegas averages about 5 inches of rain per year, so there is no shortage of sun and great weather. Even though the summer months get extremely hot, you don’t have to worry about humidity, tornadoes, blizzards, or hurricanes, and if you can get through the hot summer months then the rest of the year’s climate is mild.
Las Vegas is easy to get around
The city is relatively easy to get around compared to most other major cities. In Las Vegas, it typically takes a person an hour to drive across the city in the thick of rush hour traffic. It’s also easy to get to the airport, which is located right next to The Strip, the heart of the city. Convenience is the key!
There’s no shortage of outdoor activities for adventure seekers ( and your fur babies)! Las Vegas is home to some of the most beautiful hiking trails which many people don’t realize. Go for a leisurely (or strenuous if you’re into that kind of thing!) hike at Red Rock Canyon, Mount Charleston (yes, we have a mountain that actually gets snow yearly), or venture outside the city limits towards Lake Mead and explore historical railroad tunnels. No matter what part of the city you’re in, a world of nature awaits.
Food & Entertainment
Las Vegas is home to some of the finest culinary experiences and world-class entertainment! Famous artists within all music genres are constantly performing residencies like Katy Perry, Keith Urban, Usher, Lady Gaga, Silk Sonic, Carrie Underwood, and John Legend to name a few. Infamous chefs are opening restaurants left and right, like Chef Jose Andres, Gordon Ramsay, Bobby Flay, Wolfgang Puck, Guy Savoy, Michael Mina, Giada de Laurentiis, Nobu Matsuhisa, and more.
Professional Sports Teams
Las Vegas also has a growing professional sports scene, with the newest addition of the Las Vegas Raiders and its stunning, state of the art Allegiant Stadium! The city is also home to its beloved NHL team the Vegas Golden Knights, where they play at the T Mobile Arena. You definitely want to add a VGK game to your bucket list – you will not regret it!
Now let’s get into the comparisons
Cost of Living in Nevada vs. California
The cost of living in Nevada is exponentially lower than it is in California, hence why many Californians are relocating! The median home cost in Los Angeles is $883,400 versus the median home price in Las Vegas is $334,000. You’ll pay about $1,471 to rent a one-bedroom apartment in Las Vegas compared to a whopping $2,661! California also has some of the highest gas prices in the country (today it’s averaging about $6.31), and is not a state that would be considered tax friendly. Nevada is more financially friendly in that regard – since California is what you’d refer to as a high income state, the government assumes that most of the residents are financially thriving and taxes them accordingly.
Cost of Living in Nevada vs. Illinois
The cost of living in cities like Chicago are 18% higher compared to Las Vegas, and Chicago ranks 23% higher than the national average. The median home price in Chicago is $634,242, and rent can average as much as $1,937 per month. In addition, groceries are 4% higher than the national average! Not to mention residents have to suffer through extreme weather conditions in the winter (two words: Polar Vortex).
Cost of Living in Nevada vs. Georgia
Georgia is about 3.7% less expensive to live than Nevada, but honestly there is not much of a difference in terms of drastic changes in rents, median home prices, or transportation. The differences lie in other factors like whether or not you prefer the hot and humid summer months in Georgia, or the dry and hot months of Nevada. With humidity comes bugs, so for those who have bug phobias, the Peach State might not be the one for you.
Cost of Living in Nevada vs. Colorado
Nevada is about 13.1% cheaper than major cities in Colorado like Denver, and the biggest determining factor is the median home cost which averages $534,100 in Denver compared to Las Vegas’ $334,000. Colorado has a productive economy, reasonable taxes, all four seasons, and beautiful recreational options, but it also has a high cost of living, high cost of housing, high elevation (which some people could have unpleasant effects from), and extreme weather. Expect to pay more for fuel, groceries and other common items especially if you choose to live in Denver or in the mountains.
Cost of Living in Nevada vs. New York
No surprise, but money can take you much further in Nevada than it can in New York as the cost of living is significantly lower in Nevada. A 1 bedroom apartment will set you back about $3,409 in New York in Manhattan compared to $1,473 in Las Vegas, where you’ll pay both a state and city tax. In addition, a monthly gym membership averages $102 in New York compared to $25 in Las Vegas. The median home cost in New York is $ $2,137,777, and the city’s grocery prices are 45% higher than the national average!
Cost of Living in Nevada vs. Washington
If you’re living in a major city like Seattle, expect to save if you relocate to Las Vegas. Seattle’s housing expenses are 109% higher than the national average, and the median home price averages about $834,235. If you’re looking to rent, the median rent will cost about $2,548. The city’s grocery prices are also about 30% higher than the national average, where a loaf of bread costs $4.50, a gallon of milk $2.88, and a bunch of bananas $4.36.
There are pros and cons to every city no matter where you live, but if you enjoy living in close proximity to a large city while being able to explore the outdoors easily, relatively affordable housing, cost of living, and a great quality of life, then Las Vegas is worth considering.
People Also Ask…
What are the cons of living in Las Vegas?
If you’re used to humid climates, the dry climate in Las Vegas is definitely an adjustment, but hey – that means there are less bugs! You just need to make sure you’re stocked on lotion and are constantly staying hydrated or this could be you….
Las Vegas also gets ridiculously hot in the summer months, but that’s what pool season is for! Check out a few of the most famous pool parties in the world like Encore Beach Club, Tao Beach, and Ayu Dayclub – the options are endless!
Is it expensive to live in Las Vegas?
Compared to other large cities, no. There’s plenty of free activities to do across the valley, it’s easy to get around, you don’t have to pay for parking everywhere you go (unless you’re on the strip), the city has plenty of affordable and delicious restaurants, and there’s truly something for everyone no matter what kind of lifestyle you live. We’re the city of hospitality, so if you know the right people you might be able to score a comp or two!
So, when is your move in date? 😉