Cost of Living in Henderson NV in 2023 (Moving to Las Vegas Area)
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- Опубліковано 2 сер 2024
- What is the cost of living in Henderson NV, a Las Vegas area suburb?
If you're relocating and moving to Las Vegas or Henderson, you're probably wondering how much it costs to live in the area. Unfortunately, the cost of living in Henderson, NV has risen since our last update.
Here are the major factors to consider when planning a move to Henderson:
1. Income
The median household income in Henderson is $80,000.
The minimum wage per hour in the city is $10.50 for businesses that do not offer health benefits or $9.50 for businesses that offer health benefits to their employees. The minimum hourly wage in Henderson will go up to $12 an hour by July 2024.
2. Housing Costs
The current average price for a single-family home is approximately $500,000. It is higher than the average cost for Clark County, which is $430,000.
Over recent months, the home prices in the Las Vegas real estate market are softening, and Henderson remains to be one of the most sought-after real estate destinations for home buyers and investors. For this reason, zip codes within Henderson have been steadily seeing price increases each year.
The average home prices in Henderson could translate to as much as a $3,000 monthly payment on homes purchased via loan (with the current interest rates and for a 20% down payment on the home).
For those looking to rent in Henderson, the average rental fee in the city is $1,782 per month. It is still higher than the average rent in Las Vegas, which is $1,500.
3. Taxes
The low tax rate is another important factor to consider when evaluating the cost of living in Henderson, NV. It is one of the things that attract potential home buyers to the area. But how does it fare in 2023?
Good news - the property taxes in Henderson (and the whole Las Vegas area) are reasonable! The property tax rate in Henderson is $0.71 per $100 of assessed value. It is cheaper than the tax rates in Las Vegas and North Las Vegas.
In addition, owner-occupied properties have a maximum tax rate of 3%. New homes get an even better deal because you can get a tax of 1% of the total sales price. For example, if you purchased a new home construction worth $500,000 in Henderson, NV, you will pay a tax of $5,000. On the other hand, older homes will have an average annual tax rate of $2,500.
There is also no state income tax in Las Vegas or Nevada!
4. Utility Costs
The essential utilities form a huge chunk of your monthly living expenses. Therefore, you must consider this before deciding to move to Henderson. The average utility costs in Henderson range from $200 to $1,000 depending on your lifestyle.
Up to 70% of Henderson, NV homes use gas heaters while 30% use electricity. The average electric bill is $150 per month. Of course, the average electric costs will depend on the size of the home and the number of occupants.
The water bill system in Henderson is highly efficient. Most homes spend an average of $80 a month on water. On the other hand, basic internet service will start at $70 a month and can go upward to $120 for more advanced services.
The cost of groceries in Henderson is slightly above the national average and the state average. An average Henderson citizen spends an average of $294 per month on groceries.
The transportation costs in Henderson can be good or bad. While gas prices in Nevada are higher than in other states, the cost of insurance in Henderson is lower than in other cities or states. Henderson consistently ranks as one of the safest places to live in the US, which means you can access cheaper car insurance compared to other cities in Nevada.
According to Move.org, Nevada ranks 38th in the country in terms of average utility costs out of 50 states.
Are you considering Henderson as your new home in Las Vegas? We'd love to help. Schedule a FREE consultation today!
We pride ourselves in helping our clients realize their real estate goals through great communication, expert negotiation, and genuine service.
Kristen Thomas & Katherine Harouni
The Thomas Group - Real Broker, LLC
(702) 605-2269
info@thethomasgrouplv.com
thethomasgrouplv.com
License S.0179182, S.0185994
#hendersonnv #hendersonrealestate #hendersonrealtor
00:00 Introduction
00:58 Recent Changes to Cost of Living in Henderson
01:46 Income
02:08 Housing
03:24 Utilities
06:20 Taxes
09:28 Groceries
09:57 Transportation
12:06 Healthcare
13:02 Comparisons to Other Major Cities
Great video and info. Unfortunately, homes here have now become unsustainable for many. You can’t have NY-Cali prices when wages are drastically low, and not even keeping up with COL. These home prices are now geared towards out of state folks. Yes, having lower taxes is a great incentive to move here. But also means less funds available to keep everyone/property safe. Sadly crime has risen at astronomical levels with the increase of people to the State. The water issue here is concerning too. We have only been here 5 years and may consider leaving. We come across more folks each day that are thinking the same.
Sorry to hear you are considering moving. You hit the nail on the head regarding property taxes. Wishing you the best of luck with your decision.
@SuniSkys78 : I can certainly understand how you might feel this way. I wouldn't jump ship just yet though. Clark County Nevada actually has great quality of life. I can tell you from experience I've lived in almost every climate you can image. Pacific Northwest and depressing rain and gray skies for 9 months out of the year with snow in December. Florida with the oppressive humidity and also a lot of rain. Southern California (LA County) with all the smog so thick you can cut it with a knife. San Fransisco with the outrageous prices! San Diego probably has the best weather in the USA and next is Las Vegas! Here we have no snow, no humidity, no natural disaster threats. Where in the USA can you escape to the tall pine trees in the snow capped mountains (Mt. Charleston) in the morning and then in the evening see a world-class show and eat at a five diamond restaurant, and stay in a luxury resort? There are still plenty of safe places to live in Clark County. Henderson is consistently ranked as one of the safest cities in America. Summerlin and Centennial Hills has safe areas to live. As far as the drought is concerned. I think if anyone should be concerned it would be big business because they have millions upon millions to loose. It doesn't look like they're worried. In fact Station Casinos is building a nice multi million-dollar lifestyle resort near Durango and the 215. I don't think they'd be investing that much money in Clark County if they were afraid that the drought in our city won't be solved. For a while after I moved here I had the same mindset that you do now. It was because I was being drawn to all the negativity, focusing on negative news. Remember, there is crime, poverty, homelessness and drugs everywhere, in every city. You can't escape it no matter where you live. However, If you focus on all that, it grows and becomes larger than life and can overwhelm you and depress you. I encourage you to focus on all the great aspects this city has to offer, and go out and enjoy them to the fullest. As far as affordable real estate is concerned, you'd be surprised what you can find that's in your price range once you dive deep with your agent and search! I feel confident if you're looking for a property to buy, you will find it. It just might take a while! --- Cheers!
@@beninformato9040 Thanks for your response. You sound like my daughter lol. All kidding aside, that’s a really good perspective and you have given me a lot to consider.
@@suniskys78 : You're welcome. One more point I will leave you with ... You can't take on the world's problems in your head. Doing so will just cause a heaviness of heart, worry, sadness and grief. That's no way to live.This is something I've had to change in myself as well. Let those in charge take on that responsibility. That's what they get paid to do.
@suniskys78: Would you give me more insight into the water shortage issue in Henderson, NV?
Moved to Thailand.
1 bedroom apartment with kitchen, pool, gym, steam room and security $300/month.
Electric $90/month.
Water $7/month.
Health insurance $180/month.
Dozen eggs $1.50.
Meals start at $1.50.
Cellular unlimited data $7/month.
If you have a drinking problem don’t come to Thailand, I’m surrounded by 200plus bars in this city with pretty girls calling for us to stop and drink… and many times they offer more than just drinks😳.
Sounds like you’re living your best life 😅
Good behavior by yourself !
Great information! Thanks!!
Thanks for watching, Joe!
I love that view from Cornerstone Park, brings back so many fond memories when I used to live in the Vegas Valley! ❤
Yes!! We used to live across the street from Cornerstone and miss walking there everyday. It even has a weekly farmer’s market now.
Great video! Easy to understand, informative and really helpful. We live in VA currently and will pocket a lot more $$ than we do here, just in taxes! We were thinking new construction only, but we're actually now considering existing homes in a nice area/neighborhood because we can always renovate. The Henderson area is really sounding good and it isn't even what we looked at when we visited last year.
Thanks for watching! I’m originally from VA and yes you will definitely save money on taxes. Henderson really is a great area. I would love to show you some existing homes when you come back to Las Vegas!
I moved from Southern California to Henderson. Everything is cheaper here except car insurance, car registration and homeowner insurance which are a bit more here. Also something that may not be apparent right away. The price of new cars at dealerships here is higher than what you can get in CA (even now).
That’s really interesting about the price difference of cars. Thanks for sharing, and welcome to Henderson 😁
So it’s basically at California price. The groceries are high, these homes were affordable in the past whoever buys at today’s prices you will be in for a rude awakening. Glad I didn’t move there. The lake will soon dry I really doubt these ladies will be around then…..
Sounds like I am better off staying in Southern California then. Plus the weather is not as hot.
@@anthonymartinez4307 No state income tax is a huge plus. The crazy politics in California pushed me to move more than anything else.
this video was outstanding thankyou very much, Prices have gone mad everywhere, soemthings gotta give! Your water is super high imo and car registration and insurance, ugg. I always wanted to move to vegas area but now I am older and ahhhh not so much. Thank you again this was a great great informative video!
Thank you so much for the comment, John! Wishing you all the best.
The perfect time to move to Henderson, we get good eats in town, and always ranks in the top 20 towns to retire to, love the strip view in my backyard, and Harry Reid we can get anywhere by air.
Excellent vídeo, excellent job, excellent information, thank you so much for share your beautiful vídeo and god bless you all time and always adiosito
Appreciate the kind words, Artemio! Thanks for watching! 🙌
Great info in this Video. My wife and I are thinking of buying a place in Henderson as snow birds in the next couple of years from Canada. Thanks for the information :)
Hi Jon! Thanks for watching! We’d love to help if you ever think of making that a reality. An excellent option to consider would be a medium term fully furnished rental. Let us know if you need any info 😊
thanks for the info
Thanks for watching!
Great video! You covered all the bases. Property insurance is one of the lowest in the USA. New construction you will pay your tax rate pretty much on the sales price of the home. For a resale property the tax that is baked in gets transferred to the new buyer and can only increase by 3% per year max for owner-occupied buyers! One thing I think you forgot to mention is HOA fees! Great work!
Yes! You’ve got the property taxes down. They can be a little confusing to people. It’s on our list of videos to create. Thanks as always for watching and for the comment!
Great video as I have been a solid resident of Las Vegas for over 12 years now. I still believe that people fail to do any research when moving to Las Vegas or Henderson!!!!!!! Kudos :)-
Thanks Loren 😊
12, years ago was the time to buy today only a fool would gamble your water will eventually become a dry problem.
I make close to $440K a year as an airline pilot, living in Northern California (San Mateo)... I feel very lower middle class out here where the average Apple, Google or Facebook engineer makes $250K/yr... my 23 year old condo costs $1.3M with an HOA of $655/mo for crap amenities .. my state income taxes are about $3700/month, my gas is $6/gallon, my sales tax is 9.75% ... I think it's time to do the sensible thing and move to Vegas.. Plus, this way I can keep my gun in my glovebox and not be a felon. BTW, checked online and my 2020 Porsche 911 will cost $1700 to register vs $1200 in CA, and my 2022 Suburu Outback $895 vs $650... and my USAA insurance rate will go up almost 60% .. insane!
We've had a many of our clients moving from California say that the savings in state income taxes alone covers their mortgage payment. Everything is relative, isn't it?!
You forgot to mention your dick size and how much you bench.
It’s been 9 months since this video was made, have you folks seen prices coming down a bit? (Love your videos by the way) we are planning to move to Henderson from Hawaii!
Thank you for watching!! Median prices are the exact same as this time last year. We predict prices to stay pretty steady over the next few months. Rents are coming down though!
Las Vegas Negadas, is a beautiful States, my daughter lives in Henderson,
Thanks for watching! It really is beautiful here!
I love that coat Kathryn is wearing! What brand is it?
Thank you! It’s from desigual
I'm getting ready to buy right now (I've lived in Henderson, North Las Vegas, and Las Vegas)... trying to get back to Henderson - but the price is discouraging, but maybe I just need to bite the bullet. I am so tired of the noise and street racings. :(
Have you thought about new construction? We're negotiating great prices and incentives for our clients right now that makes new construction more doable than resales. Would love to help if you don't have an agent :) info@thethomasgrouplv.com
Electric rates are .14.5kwh. in Henderson. Compare that to CA where SCE has a three tier use starting at 31kwh, then to .40kwh and then to .50kwh at the highest usage. I can usually stay in tier 1 but that's still more than double Nevada's price. Time of Usage plan is useless too in CA. It really does not save anything and can ultimately cost more.
Thank you for explaining that in such detail!
The car registration thing is ridiculous. That needs to be revamped. Seems like some things are cheaper like property taxes but they get you in different areas like vehicle registration and fuel prices. So much for me being a car guy with 3 cars. I'd be paying through the nose.
Yeah, agreed! Car registration and insurance is ridiculous.
Hay, pretty ladies. …… thank you for these good info & great videos, good job and very applicable stuff, have a nice cool day (pls don’t go above 100*degree), haha !
Beautiful ladies 😊
Don’t worry ladies it’s coming back with rates at 7% or higher who is selling what
You got to be an idiot to buy in this market as wealthy as one can be still a horrible decision most of the homes in Las Vegas, and Henderson are like papier-mâché unless you have a custom house like mine in the ridges, which is worth it’s weight in gold
Thanks for sharing your opinion, Jordan.
That minimum wage amount is horrible. Wow. Median home income is 80K but prices are 500k? So the average family couldn't afford the cost of ownership. If I decide to move there, the home will have to have Solar to offset the electric cost. Yet, there is nothing you can do about water, even if you have hard water problems. My Mercedes registration in WI is $115 annually. I cant imagine what it will be in Nevada. Overall, great video. Great information.
High interest rates👍🙏🙏
As a houseless van lifer, can you recommend areas of Henderson that would be appropriate for my lifestyle? I have a fixed income of about $1900 per month and looking for a stable environment.
Hi Mark. Honestly, we’re not too sure, but we wish you the best of luck!
Low property taxes on older homes are a vastly underappreciated benefit of buying a house in Nevada.
My internet bill dropped from over $100 a month with Cox to $50 with Verizon 5G for home. It may not be the fastest but it does the job just fine for streaming and home security video. Sure prices for rent and housing have gone up but if you already have a home here, where are you going to move out of state that is cheaper? Texas? Check out their crazy property taxes first. Florida? Just try to get flood and hurricane insurance. Arizona? They have some income tax and it is even hotter there! No thanks. I love Henderson. When I lived in California I ran into people several times that lived in Henderson and they all loved it here. They only moved out because their jobs changed.
Beautiful ladies
Thank you!
Car registration is double of CA, I think…,
Gas and electric are around $375 per month?! Is that year round?? It seems very high.
Hi, it’s the average. Based on the size of house etc, it’s going to change.
You girls are cute! I’m soo interested in Las Vegas now. 😉
Don’t buy they are priced at New York California High it’s not affordable and food groceries are super high, they will soon rise again. Another reason is that Las Vegas Paradise Henderson whatever are you live is now bigger than Lake mead so do the math and when become dry ( no water) you have trapped yourself there.
San Diego offers me free health insurance, free internet, free mobile phone, free auto insurance, free utility bill, free grocery, plus affordable housing for seniors.
Does Las Vegas offers me these goodies???
Wow good for you! We’re not too sure if Las Vegas has anything similar….we just sell houses 😅 Sounds like you have a good thing going though!
please set up your video so that it could be saved
You need to make at least 100,000 or more.
Thanks for sharing your perspective, Michael.
It's not cheap anymore..
It was worth living there when it was cheap but if you're going to pay these ridiculous prices you might as well live in San Diego because Las Vegas is still and will always be a complete shit hole.. Sinatra must be rolling in his grave right now 😢
First two questions to ask: 1) is it a gun friendly state? 2) is it a red state/city red politically? If no to either question then run
Hi
@@user-hk9pn1iy8g 👋 Hi