The average monthly expenses for a single person in Las Vegas are estimated at $2,985, making it an affordable option compared to cities like Los Angeles and New York. This calculation considers housing, transportation, healthcare, utilities, taxes, entertainment, and groceries.

Let’s break down all the factors in detail to better understand the cost of living in Las Vegas, Nevada!

What is The Cost of Living in Las Vegas?

Las Vegas offers a quality lifestyle full of entertainment, dining, and job opportunities. While it’s pricier than some smaller cities, it remains a bargain compared to major metropolitan areas.

Here are the latest statistics:

  • Cost of Living Index: 64.5 (New York City = 100)
  • Population: Approx. 670,000
  • Median Household Income: $66,356

Is Las Vegas Expensive to Live In?

Nevada offers high-quality opportunities at a lower cost, making it an attractive relocation destination. To put it into perspective, living in Las Vegas with $5,890 provides the same lifestyle as $11,000 in New York City.

Primary Factors:

  • Housing: Above average
  • Transportation: Relatively low
  • Healthcare: Average
  • Utilities: Moderate
  • Groceries: Slightly above average

What is the Average Salary in Las Vegas?

Income in Las Vegas varies by age and profession. Here’s a breakdown of median salaries:

  • Ages 24-44: $63,603
  • Ages 45-64: $71,873
  • Under 25: $39,685
  • Over 65: $48,657

The highest earners work in specialized fields such as:

  • Medical professionals
  • Tech industry professionals
  • Legal professionals
  • Business executives
  • Engineering professionals

Housing Costs in Las Vegas

Whether you’re looking to rent or buy, Las Vegas offers a variety of options at different price points.

Home Prices by Area

  • North Las Vegas: Affordable housing, starting at $300,000
  • South Meadows (Reno): Modern homes, averaging $400,000 – $600,000+
  • Henderson: Suburban, family-friendly, homes range $400,000 – $700,000+
  • Old Southwest (Reno): A mix of older and renovated homes, priced $400,000 – $700,000+
  • Summerlin (Las Vegas): Upscale community, with homes $500,000 – $1 million+

The average home price in Las Vegas is $518,876.

Rental Costs in Las Vegas

As of June 2024, the median rent is $1,397 per month. Although rent has increased slightly, it remains 18% lower than the national average.

Rental Prices by Bedroom:

  • Studio: $971/month (403 Sq Ft)
  • One Bedroom: $1,288/month (705 Sq Ft)
  • Two Bedrooms: $1,517/month (1,023 Sq Ft)
  • Three Bedrooms: $1,827/month (1,243 Sq Ft)

Average Rent by District:

  • Sunrise Manor: $1,244/month
  • University District: $1,266/month
  • Paradise Valley East: $1,333/month
  • Central Las Vegas: $1,391/month
  • Las Vegas Strip: $1,399/month
  • Chinatown: $1,454/month
  • Whitney: $1,480/month
  • Michael Way: $1,556/month
  • Northwest Las Vegas: $1,612/month
  • Centennial Hills: $1,624/month

Utility Costs in Las Vegas

The cost of utilities varies based on household size, usage, and the season.

  • Electricity: $231.34 / month
  • Gas: $3.85 / gallon
  • Water bill: $26 / month
  • Sewage: $25.96 per wet ton
  • Phone: $194.60 / month
  • Streaming Services: $50.50 / month

From 2023 to 2030, electricity rates in Las Vegas are expected to increase 3.4% annually due to inflation and cost-of-living adjustments. Investing in renewable energy, like solar panels, can reduce electricity expenses.

Transportation Costs in Las Vegas

Your choice of transportation—private vehicle or public transit—affects your expenses.

Public Transportation

  • Standard fare: $2.00 per ride
  • Reduced fare: $1.00 per ride (for seniors, youth, etc.)
  • 2-hour pass: $3.00
  • 24-hour pass: $8.00
  • 3-day pass: $20.00
  • 30-day pass: $65.00

Grocery and Food Costs in Las Vegas

Grocery prices in Las Vegas are about 5% higher than the national average.

Basic Grocery Prices:

  • Milk (1 gallon): $4.91
  • Loaf of Bread: $4.16
  • Rice (1 lb): $2.10
  • Eggs (dozen): $4.00
  • Chicken Filets (1 lb): $5.48
  • Beef Round (1 lb): $7.29
  • Apples (1 lb): $2.89

The average monthly grocery cost is $500 – $1,000 per person.

Healthcare Costs in Las Vegas

Healthcare prices in Nevada vary based on provider and service type.

  • Doctor’s Visit: $111.15
  • Dentist Visit: $100.01
  • Optometrist Visit: $109.19
  • Prescription Drug: $427.09
  • Veterinary Visit: $53.88

Education Costs in Las Vegas

Public K-12 Education

Public schools in Nevada are free for residents.

Private Schools

Annual tuition ranges from $6,000 – $20,000, depending on the institution.

Higher Education Costs

  • Community Colleges (CSN): $3,500 – $4,000 per year for in-state students
  • Universities (UNLV):
    • In-state tuition: $6,500 – $8,500 per year
    • Out-of-state tuition: $24,000 – $30,000 per year

Childcare Costs in Las Vegas

Childcare expenses vary based on provider and location.

  • Daycare (infants & toddlers): $800 – $1,200 per month
  • Preschool (3 – 5 years old): $600 – $1,000 per month
  • Family Daycare Homes: $500 – $800 per month
  • Nanny or Babysitter: $15 – $25 per hour

Entertainment & Leisure Costs in Las Vegas

Las Vegas is a nightlife and entertainment hub.

  • Show tickets: $50 – $150 per person
  • Nightclubs/Lounges: $20 – $50 per person
  • Attractions & Activities: $20 – $50 per person
  • Dining Out: $50 – $200 per person
  • Fast Food: $5 – $15 per person
  • Movie Ticket: $12.65

Tip: Take advantage of Happy Hour deals for affordable drinks and dining.

Taxes in Las Vegas

  • Sales Tax: 6.85% – 8.375%
  • Property Tax: $1,800 – $3,000 annually
  • Hotel Tax: 13.38%

Moving to Las Vegas – Costs to Consider

If you’re ready to move to Las Vegas, here’s what to expect:

  • Local Moves: $80 – $120 per hour for a two-person team and truck
  • Long-Distance Moves: $0.50 – $1.50 per mile
  • Storage Fees: $50 – $80 per hour

Las Vegas is a fantastic place to live, offering an exciting lifestyle at a more affordable cost compared to other major U.S. cities. If you’re planning to relocate, be sure to plan your budget accordingly and contact the right Las Vegas movers.