A
9%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
42%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Las Vegas Nevada National
Cost of living109100100
Goods & Services8492100
Groceries105103100
Health care8992100
Housing142104100
Transportation111117100
Utilities10799100

An Overview of Cost of Living in Las Vegas, NV

Knowing the cost of living in Las Vegas allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Las Vegas stands at 109, marking it 9% higher than the national average.

The cost of living in Las Vegas is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Housing costs are a major factor in the Las Vegas cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 42.5% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Everyday necessities such as clothing, personal hygiene products and recreational activities collectively contribute to the overall cost of living. The favorable news is that in Las Vegas, these essential goods and services are priced 16.2% below the national average. This translates to the ability to procure essential items and indulge in leisure activities without depleting one's financial resources excessively. With the resulting savings, individuals have the opportunity to allocate additional funds towards their savings or other financial objectives.

What Do Locals Say About the Cost of Living in Las Vegas?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 40 locals to understand their opinions on the cost of living in Las Vegas. The results indicated that 20% found it reasonably priced with decreasing prices of goods and services, while 80% viewed it as quite expensive, with increasing prices.

Is Las Vegas Affordable?

Wondering if Las Vegas is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Las Vegas, for example, the median home price is 51.4% higher than what folks pay nationally, and monthly rent is 21.5% higher than the usual rates. Plus, income levels matter too, with Las Vegas boasting a median household income of $58,377, which is 5.5% higher than the national average.

What Factors can Influence the Cost of Living in Las Vegas?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Las Vegas, the housing index stands at 42.5% higher than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Las Vegas, healthcare costs are 11.3% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Las Vegas, the prevailing sales tax rate starts at 6.85%, and income tax rates kick off at 0%.

Where is the Data From?

The cost of living data in Las Vegas displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Las Vegas is 9% higher than the Nevada average
  • The cost of living in Las Vegas is 9% higher than the national average
  • Las Vegas housing is 42% higher than the national average
  • Nevada general sales tax is 34% higher than the national average
  • Nevada state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Las Vegas

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Compare Las Vegas, NV Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,034$6,670$1,867$2,401
      Renters$40,842$3,404$953$1,225
      To approximate the cost of living and the housing affordability in Las Vegas, NV, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Las Vegas have a median income of $80,034. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,867 per month to avoid calamity and poverty. The renters in the city have an income of about $40,842, which would make their monthly maximum allowable rental costs $953.

      Nevada Sales Tax

      State General Sales Tax With Max Surtax
      Nevada 6.85% 8.25%

      Nevada Income Tax

      State Income Tax (Low) Income Tax (High)
      Nevada 0% 0%

      Goods & Services

      Item Las Vegas National avg. Difference
      Haircut $16.39$24.2632.4%
      Beauty Salon $42.92$45.565.8%
      Toothpaste $3.90$3.705.2%
      Shampoo $1.36$1.286.2%
      Movie $12.42$12.132.3%
      Bowling $16.78$18.006.8%

      Groceries

      Item Las Vegas National avg. Difference
      Ground Beef $6.52$5.8411.6%
      Fried Chicken $1.37$1.5712.9%
      Milk $4.80$4.672.7%
      Potatoes $4.62$4.936.3%
      Pizza $11.99$12.090.8%
      Beer $10.14$10.412.6%

      Health Care

      Item Las Vegas National avg. Difference
      Optometrist $97.78$125.6822.2%
      Doctor $111.53$135.7817.9%
      Dentist $98.86$113.2912.7%
      Ibuprofen $11.25$10.655.6%
      Lipitor $462.84$468.601.2%

      Housing

      Item Las Vegas National avg. Difference
      Home Price $279,700.00$184,700.0051.4%
      Avg. Mortgage Payment $2,433.85$2,346.693.7%
      Apartment Rent $1,153.00$949.0021.5%

      Transportation

      Item Las Vegas National avg. Difference
      Gasoline $3.99$3.4615.3%
      Tire Balancing $59.58$59.920.6%

      Utilities

      Item Las Vegas National avg. Difference
      All Electricity $219.03$193.9912.9%
      Phone $185.31$192.253.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Nellis AFB, NV3,770928.0%
      Winchester, NV36,302955.1%
      Sunrise Manor, NV198,187982.2%
      Whitney, NV44,4881011.0%
      Paradise, NV193,1501065.9%
      Las Vegas, NV644,5941099.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Oklahoma City, OK649,821918.8%
      Portland, OR650,38013838.5%
      Memphis, TN650,9108613.9%
      Nashville, TN667,0701088.4%
      Louisville, KY618,733973.3%
      Las Vegas, NV644,5941099.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.