If you are wondering how affordable it is to reside in Sin City itself, then you will find this article useful. Read our guide to cost of living in Las Vegas.
Known for its desert weather, famous casinos, and neon lights, Las Vegas has much to offer.
Being one of America’s fastest-growing cities, Las Vegas is a great place to live.
As a tourist, you might have spent quite a bit of money on a weekend of partying in Sin City, but if you are looking at settling down in Las Vegas, then you’ll want to ensure that you can afford it.
With this ultimate guide on the cost of living in Las Vegas and moving out of state, you’ll be able to evaluate whether moving there is a good decision for you or not.
We will be looking at housing, utilities, transportation, and more.
The Cost Of Living In Las Vegas, NevadaThere is more to Las Vegas than just all things self-indulgent. Las Vegas offers inexpensive living and great job opportunities inside and outside of the hospitality and entertainment industry.
We gathered information to make your decision of relocating to Las Vegas a bit easier.
HousingThe largest expense to consider is the cost of renting or buying a home.
Las Vegas has accessible housing prices that cater to a wide range of economic backgrounds. Housing costs and rental rates can go from affordable to super expensive, depending on the neighborhood that you relocate to.
Let’s take a deep dive into the housing prices and rental rates in Las Vegas.
Renting in Las VegasThe average monthly cost to rent for a one-bedroom apartment in Las Vegas is $1,000, whereas a two-bedroom apartment is $1,200. This is the relative price of an apartment in the city center.
If you are attracted to the excitement of the Strip, then you will find a luxury apartment that should cost you around $3,000 or more per month.
If you are searching for an affordable one-bedroom apartment outside the city center, then you can expect a monthly rate of around $980. A two-bedroom rental rate would be an average of $1,250 per month, whereas a four-bedroom monthly rental cost can be around $2,000.
Seeing as renting in Las Vegas is 62% less expensive than renting in Los Angeles, these rental rates make Las Vegas a reasonable place to rent.
The rental rates in Las Vegas may be cheaper than those in the West Coastal region, but it is still pricier than the rest of Nevada.
In 2021, the rental home prices in Las Vegas saw an increase of 11.3% in April to a general monthly rate of $1,460.
Buying Property in Las VegasIf you want to be living in Las Vegas for more than 2 years, then it is always better to buy a house instead of renting.
If buying a home is within your means, then you will find the housing prices in Las Vegas to be manageable. If you are moving from Los Angeles, you will find that homes are 43% less expensive in Las Vegas.
Data from September 2021 indicates that the average price of a home in Las Vegas, NV will cost about $379,900.
This data also shows the most expensive neighborhood is Paseos, with an average price of $780,000. The most affordable neighborhood is Pioneer Park, with an average house price of $245,000.
It is no wonder that many are moving from expensive areas, such as Southern California, to seek affordable housing in Las Vegas.
In general, the housing costs will increase the closer you are to the Strip.
One issue that you will find with housing is that prices vary even within neighborhoods. Don’t be surprised if you see a big price difference between two houses that are directly across from one another. Different areas of a town can also have varied home prices.
UtilitiesA pervasive part of any individual’s life is the utilities, whether you are renting or buying a home.
The average utility costs for a 1,000 square-foot apartment are approximately $180 per month. This will include prices for garbage, water, cooling, electricity, and heating.
Standard internet prices should be around $77 per month for 60 Mbps service.
Cable and/or streaming services will add another $100 to your monthly utility expenses.
In the summer months, Las Vegas’s warm desert weather can be excruciatingly hot. You will want to budget for this time of the year since you will be racking up a higher electricity bill due to cooling costs.
Food and Grocery CostsLas Vegas is a large city with various small independent grocers, bustling farmers’ markets, as well as international retailers. There are also plenty of restaurants.
A meal at an affordable restaurant in Las Vegas will cost you roughly $15. On the other hand, a three-course meal for 2 persons at a mid-range restaurant can cost around $50 to $70.
You will want to budget if you want to splurge on those tasty meals when out on the Strip.
A grocery bill in Las Vegas will cost 2.3% higher than the national average, and 2% more than the rest of Nevada. For example, a gallon of milk will cost you $2,49, whereas a dozen eggs will go for $1,88. You can expect to dish out $400 per month for just your groceries if you are two people.
One person will most likely only spend between $200 to $250 per month on groceries.
Healthcare CostsLas Vegas’ Healthcare costs are slightly higher than the national average due to having fewer doctors per capita.
A doctor’s visit will typically cost $113,70, whereas a dental visit can cost you around $97. Healthcare costs, which include a doctor’s visit, routine dental visit, and medicine, can cost up to $1,651.
Health insurance through a company will average at $1,235 per month, which is a high amount for many.
An inpatient hospital stay before insurance can cost you around $1,887.
Childcare in Las VegasChildcare services are very important for young families.
Like many other cities in America, if you are moving interstate, child care in Las Vegas is pricey. The average price for one year of child care in Nevada is $11,408. This works out as $951 per month.
You can save money on childcare by selecting home-based childcare. This will help decrease costs and might be a better option for some children since home daycares can only assist 3 to 10 children at a time.
TransportationTransport costs are another noteworthy cost factor that you need to consider. You may either have a vehicle to get you to places or prefer to commute via public transport.
One thing is for certain, transport needs to be budgeted no matter what your choice of transport is.
Public TransportIf you do not have personal transportation to your avail, then you can look at public transport options.
Las Vegas is not exactly known for its public transportation system, but it does have a bus system and an automated monorail system.
The Las Vegas MonorailThe Las Vegas Monorail offers its train service along the Strip. The Las Vegas Monorail trains arrive every 4 to 9 minutes at seven stations.
A single ride costs $5. Unlimited rides and day pass rates increase to a maximum of $56.
The Regional Transportation Commission (RTC) Transit SystemThe RTC offers services throughout Las Vegas, North Las Vegas, Henderson, and other surrounding areas. This transit system is managed by the Regional Transportation Commission of Southern Nevada. The RTC runs buses, Club Ride Commuter Services, and bicycle sharing.
If you do not want to drive, then you can jump on an RTC bus to get to places in Las Vegas. This bus system presents over 30 routes throughout Las Vegas.
A one-way bus ticket will cost you $2, whereas a 24-hour pass will cost you $5.
You can buy a monthly pass of unlimited rides for $65. This price is reduced to $32,50 for people with disabilities, seniors, students, veterans, and youth.
The most affordable option is the Club Ride Commuter Service. This service is completely free to make use of.
Even with these options, a vehicle is still highly recommended to get around the city.
Personal Transportation CostsLas Vegans prefer to travel by car, even if Nevada has one of the highest gas prices in America.
Las Vegas’ gas prices increased by 17 cents in February 2021.
As of July 2021, the average gas price is $3,79 per gallon. This is 65 cents higher than the national average.
There are also Rideshare services available, such as Lyft and Uber. Take note that the prices of these services will surge in times of higher demand. For example, the prices will be higher during New Year’s Eve.
Salaries in Las VegasThe tourism industry in Las Vegas accounts for a lot of job creation for the city’s economy, but there are other job opportunities as well. It is estimated that 28.6% of Las Vegas’ total workforce is made up of people working in tourism-oriented jobs.
In recent years, there has been a rise in industries, such as information technology, health, and aerospace.
The average salary in Las Vegas is roughly $60,000. Compare this to New York ($74,000), Los Angeles ($74,000), and San Francisco ($94,000).
Nevada’s minimum wage is $8,75 per hour or $9,23 per hour if subject to qualified health benefits.
Las Vegas’ unemployment rate climbed to 9.4% in July 2021.
TaxesThere are only 7 states in the United States of America that have no state income tax, and Nevada is one of them. This means that you get to keep all your income and save more money, which will make living in Las Vegas so worth it.
If you live in Las Vegas, you will also enjoy fairly low property rates taxes in the country.
Nevada’s average property tax rate falls at 0.53%. The city of Las Vegas’ property tax rate is a bit more than the rest of Nevada, with 0.65%. This is still less than the national average of 1.07%.
For example, if you buy a Las Vegas home at $300,00, then you will only owe $1,950 in property taxes with a rate of 0.65.
In addition, Las Vegas’ sales tax rate is 8.38%.
How Much Money Do You Need to Live in Las Vegas?To maintain a comfortable standard of living in Las Vegas, Nevada, you will need an annual income of at least $39,283. If you are not including savings in your monthly earnings, it is suggested that you have around $2,500 per month. This can include $1,200 for rent, $200 for utility costs, $400 for food, money for gas, and car insurance.
With that being said, you will probably need to earn more than that to allow for savings, emergencies, and nights out on the Strip.
For this reason, we recommended an annual income of $40,000 to $50,000.
Key TakeawaysThere is a lot to know about Las Vegas before you decide to make the big move, but once you are aware of the different costs of living, you will be more prepared.
When you have done all your research, then you can start doing budget planning.
Las Vegas might have a reputation for being a bustling city with its gambling and nightlife scene, but the city also offers vibrant neighborhoods, historic areas, and a diverse flair of people.
If you plan on moving to Las Vegas, NV, you will enjoy its affordable housing, low-income tax, and reasonable public transportation.
In essence, the overall cost of living in Las Vegas is cheaper than the majority of cities in the United States of America.
Being one of America’s fastest-growing cities, Las Vegas is a great place to live.
As a tourist, you might have spent quite a bit of money on a weekend of partying in Sin City, but if you are looking at settling down in Las Vegas, then you’ll want to ensure that you can afford it.
With this ultimate guide on the cost of living in Las Vegas and moving out of state, you’ll be able to evaluate whether moving there is a good decision for you or not.
We will be looking at housing, utilities, transportation, and more.
The Cost Of Living In Las Vegas, NevadaThere is more to Las Vegas than just all things self-indulgent. Las Vegas offers inexpensive living and great job opportunities inside and outside of the hospitality and entertainment industry.
We gathered information to make your decision of relocating to Las Vegas a bit easier.
HousingThe largest expense to consider is the cost of renting or buying a home.
Las Vegas has accessible housing prices that cater to a wide range of economic backgrounds. Housing costs and rental rates can go from affordable to super expensive, depending on the neighborhood that you relocate to.
Let’s take a deep dive into the housing prices and rental rates in Las Vegas.
Renting in Las VegasThe average monthly cost to rent for a one-bedroom apartment in Las Vegas is $1,000, whereas a two-bedroom apartment is $1,200. This is the relative price of an apartment in the city center.
If you are attracted to the excitement of the Strip, then you will find a luxury apartment that should cost you around $3,000 or more per month.
If you are searching for an affordable one-bedroom apartment outside the city center, then you can expect a monthly rate of around $980. A two-bedroom rental rate would be an average of $1,250 per month, whereas a four-bedroom monthly rental cost can be around $2,000.
Seeing as renting in Las Vegas is 62% less expensive than renting in Los Angeles, these rental rates make Las Vegas a reasonable place to rent.
The rental rates in Las Vegas may be cheaper than those in the West Coastal region, but it is still pricier than the rest of Nevada.
In 2021, the rental home prices in Las Vegas saw an increase of 11.3% in April to a general monthly rate of $1,460.
Buying Property in Las VegasIf you want to be living in Las Vegas for more than 2 years, then it is always better to buy a house instead of renting.
If buying a home is within your means, then you will find the housing prices in Las Vegas to be manageable. If you are moving from Los Angeles, you will find that homes are 43% less expensive in Las Vegas.
Data from September 2021 indicates that the average price of a home in Las Vegas, NV will cost about $379,900.
This data also shows the most expensive neighborhood is Paseos, with an average price of $780,000. The most affordable neighborhood is Pioneer Park, with an average house price of $245,000.
It is no wonder that many are moving from expensive areas, such as Southern California, to seek affordable housing in Las Vegas.
In general, the housing costs will increase the closer you are to the Strip.
One issue that you will find with housing is that prices vary even within neighborhoods. Don’t be surprised if you see a big price difference between two houses that are directly across from one another. Different areas of a town can also have varied home prices.
UtilitiesA pervasive part of any individual’s life is the utilities, whether you are renting or buying a home.
The average utility costs for a 1,000 square-foot apartment are approximately $180 per month. This will include prices for garbage, water, cooling, electricity, and heating.
Standard internet prices should be around $77 per month for 60 Mbps service.
Cable and/or streaming services will add another $100 to your monthly utility expenses.
In the summer months, Las Vegas’s warm desert weather can be excruciatingly hot. You will want to budget for this time of the year since you will be racking up a higher electricity bill due to cooling costs.
Food and Grocery CostsLas Vegas is a large city with various small independent grocers, bustling farmers’ markets, as well as international retailers. There are also plenty of restaurants.
A meal at an affordable restaurant in Las Vegas will cost you roughly $15. On the other hand, a three-course meal for 2 persons at a mid-range restaurant can cost around $50 to $70.
You will want to budget if you want to splurge on those tasty meals when out on the Strip.
A grocery bill in Las Vegas will cost 2.3% higher than the national average, and 2% more than the rest of Nevada. For example, a gallon of milk will cost you $2,49, whereas a dozen eggs will go for $1,88. You can expect to dish out $400 per month for just your groceries if you are two people.
One person will most likely only spend between $200 to $250 per month on groceries.
Healthcare CostsLas Vegas’ Healthcare costs are slightly higher than the national average due to having fewer doctors per capita.
A doctor’s visit will typically cost $113,70, whereas a dental visit can cost you around $97. Healthcare costs, which include a doctor’s visit, routine dental visit, and medicine, can cost up to $1,651.
Health insurance through a company will average at $1,235 per month, which is a high amount for many.
An inpatient hospital stay before insurance can cost you around $1,887.
Childcare in Las VegasChildcare services are very important for young families.
Like many other cities in America, if you are moving interstate, child care in Las Vegas is pricey. The average price for one year of child care in Nevada is $11,408. This works out as $951 per month.
You can save money on childcare by selecting home-based childcare. This will help decrease costs and might be a better option for some children since home daycares can only assist 3 to 10 children at a time.
TransportationTransport costs are another noteworthy cost factor that you need to consider. You may either have a vehicle to get you to places or prefer to commute via public transport.
One thing is for certain, transport needs to be budgeted no matter what your choice of transport is.
Public TransportIf you do not have personal transportation to your avail, then you can look at public transport options.
Las Vegas is not exactly known for its public transportation system, but it does have a bus system and an automated monorail system.
The Las Vegas MonorailThe Las Vegas Monorail offers its train service along the Strip. The Las Vegas Monorail trains arrive every 4 to 9 minutes at seven stations.
A single ride costs $5. Unlimited rides and day pass rates increase to a maximum of $56.
The Regional Transportation Commission (RTC) Transit SystemThe RTC offers services throughout Las Vegas, North Las Vegas, Henderson, and other surrounding areas. This transit system is managed by the Regional Transportation Commission of Southern Nevada. The RTC runs buses, Club Ride Commuter Services, and bicycle sharing.
If you do not want to drive, then you can jump on an RTC bus to get to places in Las Vegas. This bus system presents over 30 routes throughout Las Vegas.
A one-way bus ticket will cost you $2, whereas a 24-hour pass will cost you $5.
You can buy a monthly pass of unlimited rides for $65. This price is reduced to $32,50 for people with disabilities, seniors, students, veterans, and youth.
The most affordable option is the Club Ride Commuter Service. This service is completely free to make use of.
Even with these options, a vehicle is still highly recommended to get around the city.
Personal Transportation CostsLas Vegans prefer to travel by car, even if Nevada has one of the highest gas prices in America.
Las Vegas’ gas prices increased by 17 cents in February 2021.
As of July 2021, the average gas price is $3,79 per gallon. This is 65 cents higher than the national average.
There are also Rideshare services available, such as Lyft and Uber. Take note that the prices of these services will surge in times of higher demand. For example, the prices will be higher during New Year’s Eve.
Salaries in Las VegasThe tourism industry in Las Vegas accounts for a lot of job creation for the city’s economy, but there are other job opportunities as well. It is estimated that 28.6% of Las Vegas’ total workforce is made up of people working in tourism-oriented jobs.
In recent years, there has been a rise in industries, such as information technology, health, and aerospace.
The average salary in Las Vegas is roughly $60,000. Compare this to New York ($74,000), Los Angeles ($74,000), and San Francisco ($94,000).
Nevada’s minimum wage is $8,75 per hour or $9,23 per hour if subject to qualified health benefits.
Las Vegas’ unemployment rate climbed to 9.4% in July 2021.
TaxesThere are only 7 states in the United States of America that have no state income tax, and Nevada is one of them. This means that you get to keep all your income and save more money, which will make living in Las Vegas so worth it.
If you live in Las Vegas, you will also enjoy fairly low property rates taxes in the country.
Nevada’s average property tax rate falls at 0.53%. The city of Las Vegas’ property tax rate is a bit more than the rest of Nevada, with 0.65%. This is still less than the national average of 1.07%.
For example, if you buy a Las Vegas home at $300,00, then you will only owe $1,950 in property taxes with a rate of 0.65.
In addition, Las Vegas’ sales tax rate is 8.38%.
How Much Money Do You Need to Live in Las Vegas?To maintain a comfortable standard of living in Las Vegas, Nevada, you will need an annual income of at least $39,283. If you are not including savings in your monthly earnings, it is suggested that you have around $2,500 per month. This can include $1,200 for rent, $200 for utility costs, $400 for food, money for gas, and car insurance.
With that being said, you will probably need to earn more than that to allow for savings, emergencies, and nights out on the Strip.
For this reason, we recommended an annual income of $40,000 to $50,000.
Key TakeawaysThere is a lot to know about Las Vegas before you decide to make the big move, but once you are aware of the different costs of living, you will be more prepared.
When you have done all your research, then you can start doing budget planning.
Las Vegas might have a reputation for being a bustling city with its gambling and nightlife scene, but the city also offers vibrant neighborhoods, historic areas, and a diverse flair of people.
If you plan on moving to Las Vegas, NV, you will enjoy its affordable housing, low-income tax, and reasonable public transportation.
In essence, the overall cost of living in Las Vegas is cheaper than the majority of cities in the United States of America.
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