Cost of Living & Housing – Nevada vs. California

Despite the fact that the cost of living in Nevada is 4% higher than the US average one, it is still much more affordable than in California. Here you can save on utilities that are much cheaper as well as obtain a dwelling that is thrice cheaper than in the Sunshine State. A median home price even in Las Vegas, the most expensive city to live in Nevada, is only $256,300. In Los Angeles, the sum is almost three times higher – over $600,000.

A salary of $104,000 in Las Vegas, Nevada should increase to $168,946 in Los Angeles, California (assumptions include Homeowner, no Child Care, and Taxes are not considered.

Las Vegas experienced a big housing boom in the years leading up to the financial crisis. Unfortunately, the city was hit hard by the recession and the housing crash that came in 2008. The market has stabilized now, and home prices are climbing once again. In fact, from 2000 to 2018, Las Vegas homes appreciated by 91.71%, according to NeighborhoodScout.

A 2018 report by the National Association of Realtors has the median price of a single-family home in the Las Vegas metro area at just over $295,000. This compares favorably to other large cities in the West, as San Francisco ($952,400) and Portland ($389,000) are much more expensive.