What is the Cost of Living in Las Vegas?
We’ve been seeing a ton of people moving to Las Vegas over the last few years (and especially in recent months), and one of the biggest draws for many is the cost of living here. Vegas is a growing city with a lot of opportunities and things to do, but it’s still pretty affordable compared to a lot of nearby cities. If you’re thinking of moving here, here’s a breakdown of the cost of living in Las Vegas!
Las Vegas Cost of Living
Median home price in Las Vegas: ~$320,000
To put that into perspective, the median home price in the U.S. as a whole is around $340,000. But when you consider the median home prices in places like San Diego, for example (where a lot of people are moving to Las Vegas from) are around $720,000, that’s a pretty big difference!
Average cost of rent: ~$1,100 per month
When you look at the cost of rent in every state, the average hovers around $1,000 per month. So overall, the average rent in Las Vegas may be slightly higher than the nationwide average - but of course, keep in mind that like everything else, this will vary depending on what part of town you’re in and what type of place you’re looking to rent. (And sticking with the same example, the average cost of rent in states such as California is $1,503 per month - the second highest in the country just behind Hawaii!)
Average electricity bill: $110.76 per month
KTNV, one of the main news stations here in Las Vegas, just released an article on utility bills in Nevada. It shows that Nevada residents have the 12th least expensive utilities in the country, with residents paying $110.76 per month on average for electricity. Nationwide, the average electricity bill is around $118 per month - so while it might not be a huge difference, that’s still not too bad, especially when you consider how hot it can get here in the summer!
Average internet bill: $60 per month
The average cost for internet in the U.S. is between $50 and $60 per month, so the average internet bill in Las Vegas is right on par with the nationwide averages in this case.
Gas price: $2.89 per gallon
The average gas price in the U.S. is currently $2.38 per gallon. I’ll admit, this is one thing Las Vegas is usually more expensive in for some reason. Places like Costco and Sam’s Club always have some of the lowest gas prices, so make those a regular stop to fill up!
Loaf of bread: $2.26
On average in the U.S., a loaf of bread costs $2.50. This may not be a huge difference, but hey, every penny helps, right?
Average meal out at a restaurant: $27 per person
From a 2020 study, the average cost to eat a meal out at a restaurant cost $12.75. Of course, where you eat out can have a big effect on this, especially in a place like Las Vegas. If you’re eating at restaurants on the Strip all the time, you’re definitely going to spend more than if you went to smaller restaurants off the Strip or in the residential areas.
Again, these are just averages, and different areas of the city come with different costs that can widely vary! Things are always more expensive on the Strip, for example, while the same thing (like meals or items from a convenience store) will likely cost less in the more suburban areas of town.
(I have a blog post breaking down some of the main neighborhoods in Las Vegas if you’re interested in reading more on that!)
Overall, the cost of living in Las Vegas is pretty affordable - especially when you compare it to a lot of nearby cities! Hopefully this breakdown helped you get a better idea of some of the average cost of things here in Vegas - and if you have any questions on what it’s like to live here, feel free to send me a message and I’d be happy to answer them!
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