The REAL Cost of Living in Las Vegas - All 2021 Living Expenses Explained
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- Опубліковано 2 сер 2024
- Let’s talk about the REAL cost of living in Las Vegas. If you have plans to move to Las Vegas, you will want to pay attention in this video as we talk about all 2021 living expenses explained. To understand how much it really costs to live in Las Vegas, we cover everything from the median price of a single family home, average rent prices in Las Vegas, insurance costs, state income taxes in Nevada, other miscellaneous costs, and even the cost of living in Las Vegas compared to other cities!
We are often asked how much it costs to live in Las Vegas. There has been a huge influx of people moving into the area, and one of the bigger reasons is the affordable cost of living in Las Vegas. In order to have a full picture of the true cost of living in Las Vegas, we start with assessing income factors such as the average household income in Las Vegas as well as minimum wage.
Currently, the average household income is around $78,000 and minimum wage right under $10 without benefits. For living expenses, the median price of a single family home in Las Vegas is around $355,000 with a lower than national average homeowners insurance of around $750 per year. You can also expect the average rent prices in Las Vegas to range anywhere from $1,200 per month for an apartment to $1,650 per month for a single family home.
Another huge motivator for many people moving to Las Vegas is the advantageous tax situation we have in Nevada. We do not have state income taxes in Nevada and property taxes are lower than average, but majority of our taxes come from a hotel occupancy tax and a sales tax of 8.375%. Other miscellaneous costs include transportation costs and gas prices which can skew higher than average, and health care costs in Las Vegas can vary depending on the type of plan you sign up for.
Thinking about buying, selling or investing in real estate or have more questions about the real cost of living in Las Vegas? Schedule Your Free Consultation! We pride ourselves in helping our clients realize their real estate goals through great communication, expert negotiation, and genuine service.
Kathryn Harouni and Kristen Thomas
The Thomas Group - Love Local Real Estate
(702) 605-2269
info@thethomasgrouplv.com
thethomasgrouplv.com
License S.0179182, S.0185994
0:00 Intro
1:03 Cost Overview
1:31 Income
1:54 Home Prices
2:20 Homeowners Insurance
2:37 Rent Prices
3:01 Taxes
4:40 Misc. Costs
7:23 Healthcare Costs
7:53 Cost Comparison to Other Cities
Questions feel free to call/text (702) 605-2269 or Schedule a Free Consultation www.TheThomasGroupLV.com
Follow us on Instagram: instagram.com/thethomasgrouplv/
Thanks so much for watching!!
Hello Darling,
Nice video! Good luck to the baby 🌹have a nice and healthy life 🤗
I want to ask , Bachelor degree there was a lot of demand and probably the pay is much more?
-Business Administration and Banking with ABA Certification (American association of bankers ) ?
Or Health care Management Master ?
Would I have a chance to easily find a well-paid job in one of these specialties??? Of course after I get a Green Card…
Is that a bun in the oven? She helped me find a house just a few months ago and I had no idea. Congratulations.
Great video thanks hun
Very good insight. Thank you!
Thanks for watching Eric!
She was super pregos in this video congratulations on the baby I wish you well! Also I wish you well also keep doing the work you will be rewarded
Thank you, Jake!! Truly appreciate the support. Baby is already 9 months old 🤯
Shh Don't Tell our secret the cost of living. Great video, nice parks all over Vegas! Clark county gas tax is a bit more.
In 2009 I paid $740 for a 2 bedroom 2 story townhome on the westside. Now prices are astronomical.
We remember you could rent a small house for $900 when we moved here in 2014. This have definitely changed.
I remember 18 years ago when i moved from California to Vegas and my first apartment was a one bedroom that costs only 645 a month on the northwest side that same apartment cost over a 1000 per month! Yes COL has gone up dramatically and only going up due to Californians moving in
A lot of the car stuff applied to Colorado too!
Why did you forget utilities? Gas, water, power, trash, etc? They add up fast!
u can consider those at around like $100 per month
Utilities are affordable for the most part. During the summer your electric bill maybe a bit high unless you have solar panels
Sometimes folks just have to face the thought of moving to another area where homes are more reasonable. Hint: Try OLD Bullhead City, Arizona. Rents are high, but you can STILL buy a mobile home of your own for only $100,000. That’s right, only one hundred thousand, AND that includes the land approx. 50’x100’. Seriously, you have the Colorado River is walking distance away with nine gambling casinos on the river bank on the other side in Laughlin, Nevada. There’s plenty of water sports (fishing, jet skies, etc.) and the best Springtime in the nation, IMO.
I coming for atlanta ga maybe 2to 3year i be retired wanted rent to start any feed back be good
So let me get this straight. Let´s say you work in Vegas, at some hotel/casino/bar, you dont pay anything in tax?? What if you a foreigner with a Visa/work permit?
Our gas is ridiculously high, insurance is high due to the amount of drunk driving and is now exaggerated with legal marijuana. Health care sucks here, we dont have the medical infrastructure like other states. Good thing is taxes on houses and state tax on goods is reasonable. If your a veteran this state is great. Veterans get a tax voucher for either you house taxes or car registration which can lower your bill alot. We have nellis AFB and there is alot of veteran programs with the state to help veterans with a wide variety of issues. We also have one of the newest VA hospitals in the country.
Thanks for watching Mark, and great points for our Veterans.
Ive watched several videos on cost of living in vegas, and yours is the most detailed Ive seen yet. But one thing no one mentions is that Nevada also has no Capital Gains tax.
Thank you ladies!!! Every bit of info helps. I am moving to Vegas from Fairfield, California in July. I was a little worried about the cost of living, but it's literally just going to be me, so I think I have a bit of a better chance at sustainability there.
I’m thinking about moving there next year. But I don’t want to pay more then $200,000 can I find a safe place for that? Plus close to the casinos ???
Hi Chris! Thanks for watching! 🙌 Please send us an email with your specific criteria like size, how many bedrooms/bathrooms, do you need a garage etc etc and we will send you anything that we think you should take a look at 😊 Info@TheThomasGroupLV.com
Can HOA be jacked up in a single year for any reason or are there laws keeping the HOA's low?
Best advise for you is dont move into a HOA, most are horrible and have crazy rules
The income is low and the coast of living is high !!!
The cost of living is definitely increasing rapidly with the influx of new residents who are keeping their jobs in high cost of living areas but working from home. Thanks for watching!
Do you have to pay that registration fee every time you have to nenew?
You do, but it decreases every year pretty rapidly. Thanks for watching!
You did not talk about utilities.
Wow, Vegas is cheaper living than Oklahoma wtf...I’m moving!
Haha here if you need us Natalie! 👍
Exactly ! I live in Oklahoma now and relocating asap in May 😩
@@mulajusticia626 Come out to Vegas! We will be happy to help you find your new home.
I have a 2 year old car valued around 21k and i paid $600 for the registration -.-
$9,75 min wage is a JOKE. Lived in Vegas for 6 years and moved to the Bay Area its been a month. Not missing Vegas. Good luck to yall moving there, that city sucks.
Do better than a minimum wage job🤦🏽♂️👎
@@cantheman29upston61 im sure they never pondered upon that 👍🏼 thanks for the suggestion
Am not too thrilled with California either but you two are talking a lot of crap about California
Wrong las vegas does get earthquakes, there are 3 major fault lines running through them that can produce a 6.1to 6.9 or greater
The frenchman mountian fault has 7.0 potental.. there was a 6.9 earthquake that hit between reno and vegas in 2020 but since that 1 was so far away from vegas it didnt do any damage but, i would really do your research on it.. im not lying or trolling, stating facts
Las vegas is not Immune to major earthquakes by any means.. and the closes known fault runs right through tropicana.. which has the potential of producing a 6.1 or greater
Cashman fault, french mountan fault, valley view fault, decatur fault, whitney mesa fault.. they all ethier run right through vegas or buy the mountain ranges
@@noparadise2308 Luckily for us, though, the half-dozen or so faults in the valley have been relatively quiet over the past 1,000 years, and none are capable of producing much stronger than a 7.0-magnitude quake.
Areas within 30 miles of Las Vegas have a 12-percent chance of experiencing a magnitude 6.0 earthquake within the next 50 years, according to the Nevada Bureau of Mines and Geology. And most larger earthquakes in Nevada happen in the northern part of the state, anyway.
Even then, only eight earthquakes of magnitude 6.0 or greater have hit the state in the past century
Has Kristen evicted that baby yet? 😉
Haha YES she has!! We will update you with pictures on our next Market Update ❤️
🤣 let's kind of poop on California but recruiting everybody from California. Folks be smart by checking the crime rate and if you have kids checking school system. Then you be the judge. I'm not taking advice from a real estate agent that's trying to suck you in why they're laughing to the bank 🙄
Definitely not pooping on Cali, it’s a beautiful state and if you can afford to live there more power to you! We always encourage our clients to check crime maps and school rankings. The more research the better. Thanks for watching, JNew!
Pregnant one is way too skinny.
You forgot adding the cost of crystal meth in your equation there a lot of tweaks in Vegas
Hey Robert! Our demographic isn’t typically looking for the cost of crystal meth.