Las Vegas Apartment Cost of Living Guide
June 9, 2023
Apartment Living
While there are several benefits to living in Las Vegas, the lower cost of living is one of the top reasons people choose to move to Southern Nevada. The cost of living in other major U.S. cities is so expensive that it even outprices people who have steady incomes and good-paying jobs. Part of Las Vegas’ appeal is that it offers everything you could want in city life without the overly inflated prices.
Here’s everything you need to know about the Las Vegas cost of living and how renting an apartment in Las Vegas could save you some money.
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What is the cost of living in Las Vegas?
According to LivingCost.org, the Las Vegas average cost of living is $2,255 for one person. The cost of living Las Vegas calculations include the following:
- Housing – Apartment rent or home mortgage
- Utilities – Electricity, water, trash, sewage, phone
- Food – Groceries and essential food items for the family
- Transportation – Gas and commuting expenses
Although this cost of living is slightly above the national average, it is also more affordable than most metropolitan cities that offer comparable housing, entertainment, shopping, and other factors that affect a person’s living quality. In comparison, the cost of living in other urban cities in the United States includes:
- Los Angeles: $2,975
- New York: $3,723
- San Francisco: $3,507
- San Diego: $2,965
- Denver: $2,527
- Seattle: $2,881
What is the livable salary in Las Vegas?
Recent data calculates that an average person will need to earn about $50,000 to maintain their standard of living. With that salary, you will be able to live comfortably and have disposable income to spend on things like entertainment and dining out. Also, there are several ways people can save on utilities, groceries, and other expenses while living in Las Vegas, which can mean even more money in your pocket.
What is a middle-class salary in Las Vegas?
SmartAsset conducted a study that examined what it takes to be considered “middle class” across all states in the U.S. In Nevada, the lower limit of the middle-class category is an annual salary of $44,404, while the median household income in the state is $66,274. As the most populated city in Nevada, the Las Vegas average salary is $59,158 or $28 per hour.
The study also showed that the states with the highest middle-class income threshold included Maryland, Washington D.C., Massachusetts, New Jersey, and New Hampshire. Nevada fell in the middle range when compared to all 50 states.
Is Las Vegas apartment rent affordable?
The best apartments in Las Vegas are surprisingly affordable — especially when you consider the high-end amenities and perks offered at these properties. The average monthly rent for an apartment in Las Vegas is around $1,460. However, this really depends on the location, size, and age of the apartment.
Many luxury apartments in Las Vegas also provide bright and open floor plans with new appliances and features, which are all things you won’t find in older apartment complexes in other cities. Renters can also enjoy amenities included in the cost of the rent, such as:
- Swimming pool
- Fitness center
- Gaming or entertainment rooms
- Clubhouse
- Barbeques and picnic areas
- Private balconies
- On-site management teams
- Gated entry and 24-hour security
With all these features and perks, living in the best apartments Las Vegas has to offer can save you the money you might spend when you have to find these services elsewhere. For example, a premium gym membership can cost you hundreds of dollars a year. Using the state-of-the-art fitness centers at your apartment will cut that cost out completely.
Affordable luxury apartments in Las Vegas
After looking into the average living cost Nevada requires for your lifestyle, you may think Las Vegas is an ideal choice for your next move. Check out high-end apartments with Ovation with stunning property grounds, spacious units, and upscale amenities that won’t break the bank. Schedule a tour today!
