The city that came out on top in Redfin’s study is … Las Vegas. Yes, that Vegas—home to the world’s most famous stretch of casinos, resorts, thrill shows, tourist attractions, and debauchery. It was the first time Las Vegas ever topped this particular list for Redfin.
Now, there’s a good chance Sin City has never crossed your mind as a place to live and that you’ve instead considered it as a fun weekend getaway. But for a lot of folks, that’s changing.
Why do so many people want to move to Las Vegas?
Tourists know Las Vegas for its bright lights, gaming, and star-studded shows. But like a lot of cities, the experience for the locals is far different. “There’s a lot more to Las Vegas than just the Strip,” says realtor Michael Bondi, who’s lived in the area for almost 20 years. “The only time I go down to the Strip as a local is if there’s a concert, a sporting event, or a restaurant I want to go to.”
World Population Review recently identified Nevada as one of the nation’s fastest-growing states. Here are some of the top reasons for that.
One of the biggest reasons to consider Las Vegas, especially for those in large metropolitan areas: cost of living. Someone who lives in San Francisco and makes $115,000 would need to earn just $62,683 to maintain their standard of living in Las Vegas, we found using a cost-of-living calculator from NerdWallet.
Plus, the home prices here are far more affordable than some of the big West Coast cities where, Redfin found, a lot of the people eyeing Vegas homes currently live. Redfin reports a typical home in the Vegas area costs around $412,000. Compare that with around $975,000 in the Los Angeles area, about $1.4 million in San Francisco, and around $826,000 in Seattle.
The typical Las Vegas home costs less than half as much as one in Los Angeles, San Francisco, or Seattle, the most common origins for buyers moving in.
Also appealing? Nevada doesn’t have a state income tax.
Nevada ranks as one of the nation’s fastest-growing states. Interestingly, at some points this year, the state reported higher unemployment rates than the country as a whole, but there are still a lot of job opportunities in the area. Just think about all the touristy businesses downtown!
The opportunities are only growing too, Bondi points out. Las Vegas recently added a few new professional sports franchises, and it may soon be home to a couple of major motion picture studios … which will translate to thousands of new jobs.
“We’ve got so many projects coming here that are going to transform Las Vegas,” Bondi says.
Quality of life
Ultimately, it’s not the Bellagio or the Venetian that Bondi likes having close to his home in the Vegas suburbs. It’s the two Home Depot stores within a five-minute drive, along with the calm traffic. It’s that type of convenient suburban environment that many of his clients from big cities have been searching for. “It takes me 20 minutes to go from one side of town to the other,” he says. “We have traffic, but it’s manageable.”
Plus, there’s the weather: Vegas’s dry desert climate means comfortable temperatures much of the year … as long as you can brave the summer heat.
And, of course, if you’re looking for a bit more excitement, you can always venture down to the Strip!