Nevada cost of living
Moving to a new state can feel like a huge leap. Taking time to break things down into smaller steps helps make things more manageable. Once you figure out the practical things, you can turn your attention to the exciting parts of that journey, like making new friends and exploring new places. Read on for more details about Nevada’s cost of living if you’re planning to move to the Silver State.
The median rent in Nevada is $1,706.79, versus the national median rent of $1,529.01.
Jump to insightResidents in Nevada spend $294.76 weekly on food at home and $123.02 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $4.05 in Nevada.
Jump to insightRecent data shows that employees in Nevada pay $1,420 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Nevada
According to recent data from Zillow, the median rent in Nevada is $1,706.79, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Nevada broken down by home size. As of publishing, one-bedroom apartments in Nevada had a median cost of $1,207 per month, and the two-bedroom median cost was $1,405 per month. Three- and four-bedroom homes had median costs of $1,744 and $2,069, respectively.
As of publishing, the median home price in Nevada is $479,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Las Vegas-Henderson-Paradise metro area was $465,400 in the first quarter of 2024, according to the National Association of Realtors (NAR).
Nevada ranks No. 42 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 0.59%.
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Food costs in Nevada
According to recent census data, the average spent on food to prepare at home each week in Nevada is $294.76, compared with the U.S. average of $270.21 at the time. Nevada residents spend an average of $123.02 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Nevada
According to recent data from AAA, the average price per gallon of regular gas in Nevada is $4.05, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Nevada is $1,381.43, versus the national average of $1,189.50.
Public transportation costs
Public transit opportunities depend on where you live in Nevada. Las Vegas was No. 13 in our latest ranking of cities with the best public transit. The average fare was $1.17 in 2022.
Health care costs in Nevada
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Nevada employees $1,420 annually, with employers covering the remaining $5,428 of the $6,848 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Nevada
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Nevada is $129.35, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Nevada costs $19.61 per thousand cubic feet, compared with $13.25 nationally.
FAQ
How does the cost of living in Nevada compare with the national average?
Nevada has a higher cost of living than the national average (as of publishing), in part due to higher housing costs.
What is the most expensive city in Nevada?
In our 2024 study of the most expensive cities in the U.S., Las Vegas ranked 18th. In terms of just housing, however, first-quarter data from the National Association of Realtors shows existing single-family homes in the Reno metro have a higher median price ($605,900) than Las Vegas ($465,400).
How much do I need to make to live in Las Vegas?
A single adult needs a salary of approximately $68,000 to live comfortably in Las Vegas, according to our story on income required to make ends meet in various cities in 2024.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, "Housing Data." Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
