Is Las Vegas No Longer Affordable? [Updated Cost Of Living In Las Vegas Nevada]

Is Las Vegas No Longer Affordable? [Updated Cost Of Living In Las Vegas Nevada]. Curious about the cost of living in Las Vegas this year? Despite a recent rise, Las Vegas is still more affordable than many major US cities. With a median household income around $66,356 and an average income of roughly $86,000, it’s easier to get by here. Minimum wage is $10.25 per hour with qualifying health benefits, and $11.25 without.

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Housing costs are relatively reasonable, with the average rent for a one-bedroom apartment around $1,200 per month and home prices averaging around $385,000. Utilities, groceries, and healthcare are also more affordable compared to cities like San Francisco or New York.

A big advantage of living in Las Vegas is its tax-friendly environment—there's no state income tax, a stark contrast to California's top rate of 12.3%. This can lead to significant savings, especially for higher earners.

Entertainment and dining options are plentiful and often less expensive than in other major metropolitan areas, allowing for a vibrant lifestyle without breaking the bank.

Overall, the cost of living in Las Vegas remains significantly lower than in many other major cities.

Watch the full video to get all the details about living costs in Las Vegas in 2024 and see if it’s the right move for you!

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[alaskacpu]

We currently live in a 2br 2ba condo and with living expenses/utilities it's around 30K per year and we save the rest. We've learned to cut cost, by eating out once a month, no Starbucks or expensive drinks. Why? Because we save as much as we spend You've got to save if you want a vacation or other high dollar expense

[HaberdarHakan]

The median (the exact 50% of the population) may be a better measure because the mean/average is skewed by exceptionally high or low incomes.

[letswalktv]

thx for the good video !! this would be a great series every month to look at

[dennispayne]

You covered it all. Thank you so much for taking the time to share this information.

[Giantjolly]

I was looking into the 380k range what do you think ?

[arthurwatts]

The only thing I would obsess over - assuming I had the money to buy a place - would be insurance and the cost of 24/7 aircon. That is one hellacious desert climate.

[CruickedReality]

Property taxes go down? Depreciation? Assessed value starts at your purchase price. If your property is owner occupied your taxes will go up a maximum of 3.5% a year. I am quite certain in an environment where property values drop significantly you could file for a reassessment.

[nadahin]

Dude. Edit your sounds.. why do you you have it as the same as one of the system notifications?

[bv]

If you like high crime, high heat, high homelessness, no buffets, high cost of living, some of the highest gas in the nation, no more 24 hr business….move to Vegas! The place has really gone down hill.