Paradise, Nevada Cost Of Living

Buy Rent

C

Overall 0%

Goods & Services 3%

Housing 8%

Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; 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	Paradise	Nevada	National
Cost of living	100	105	100
Goods & Services	103	104	100
Groceries	104	108	100
Health care	95	104	100
Housing	92	104	100
Transportation	108	118	100
Utilities	99	92	100

Key findings

The cost of living in Paradise is 5% lower than the Nevada average
The cost of living in Paradise is equal to the national average
Paradise housing is 8% lower than the national average
Nevada general sales tax is 35% higher than the national average
Nevada state income tax is 100% lower than the national average

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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	$66,277	$5,523	$1,546	$1,989
Renters	$34,328	$2,861	$801	$1,030

To approximate the cost of living and the housing affordability in Paradise, 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 Paradise have a median income of $66,277. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,546 per month to avoid calamity and poverty. The renters in the city have an income of about $34,328, which would make their monthly maximum allowable rental costs $801.

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	Paradise	National avg.	Difference
Haircut	$17.13	$18.62	8.0%
Beauty Salon	$46.67	$39.05	19.5%
Toothpaste	$2.66	$2.34	13.8%
Shampoo	$0.93	$1.06	11.7%
Movie	$12.06	$10.68	12.9%
Bowling	$18.25	$14.67	24.4%

Groceries

Item	Paradise	National avg.	Difference
Ground Beef	$4.49	$4.22	6.3%
Fried Chicken	$1.35	$1.39	2.4%
Milk	$2.46	$2.05	20.2%
Potatoes	$2.96	$3.29	9.9%
Pizza	$10.82	$10.62	1.9%
Beer	$9.25	$9.38	1.4%

Health Care

Item	Paradise	National avg.	Difference
Optometrist	$105.92	$108.57	2.4%
Doctor	$106.13	$116.17	8.6%
Dentist	$96.98	$99.13	2.2%
Ibuprofen	$8.79	$9.68	9.2%
Lipitor	$448.62	$466.92	3.9%

Housing

Item	Paradise	National avg.	Difference
Home Price	$169,800.00	$184,700.00	8.1%
Avg. Mortgage Payment	$1,370.47	$1,197.42	14.5%
Apartment Rent	$880.00	$949.00	7.3%

Transportation

Item	Paradise	National avg.	Difference
Gasoline	$2.36	$2.22	6.2%
Tire Balancing	$54.94	$50.07	9.7%

Utilities

Item	Paradise	National avg.	Difference
All Electricity	$170.51	$167.67	1.7%
Phone	$175.30	$175.64	0.2%

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, State	Population	Cost of Living Index	National Avg.
Nellis AFB, NV	3,252	91	-9%
Sunrise Manor, NV	192,873	94	-6%
Winchester, NV	27,986	94	-6%
Whitney, NV	41,124	96	-4%
North Las Vegas, NV	230,436	101	1%
Paradise, NV	229,666	100	0%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
North Las Vegas, NV	230,436	101	1%
Baton Rouge, LA	228,694	94	-6%
Fremont, CA	227,934	187	87%
Irving, TX	232,013	99	-1%
Gilbert, AZ	226,832	112	12%
Paradise, NV	229,666	100	0%

Source: The Paradise, NV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.