A High Rolling City with Surprisingly Cheap Rent

Las Vegas has a reputation as a wild weekend destination; a get away location designed for big spending and a high roller lifestyle. Despite the glitz, glamor, and endless rows of casinos, Vegas is actually a surprisingly affordable city to live in. If you thrive on the all night madness of Sin City, you may want to consider living there year round.

Las Vegas Rental Prices

An Affordable Housing Market

Vegas's economy is fueled by tourism. 42.9 million people visited Las Vegas in 2016, but the population of the Nevada city is only 632,912. Because there are so many people in the city, but so few permanent residents, Vegas has all of the crazy energy of a huge city, without the housing shortages that plague San Francisco and New York.

Tourists in Vegas spend $827 on average in the city, but if you resist the lure of the blackjack table, life in Vegas can be incredibly affordable. As of September 2017, the average rent for an apartment in Las Vegas was $959 per month. One-bedroom apartments in Vegas rent for $816 per month on average, and two bedrooms go for $978 per month.

The housing market in Vegas seems immune to many of the sharp upticks in rent affecting the country nationwide. In the past year, rent in Vegas has increased a mere 0.1%.

While the average rent in Vegas is fairly reasonable, the true rental costs vary widely depending on which area you live in. In Summerlin North, a ritzy suburb of large developments to the northwest of the city, apartments rent for $1391 on average. In cheaper areas of the city, average rental price is less than half that amount. The cheapest neighborhood in Las Vegas is actually Downtown Vegas, where apartments rent for $636 per month on average.

Downtown Las Vegas

Plenty of Jobs, If You Work in Tourism

Las Vegas's economy is almost completely centered around tourism. With millions of visitors coming to the city each month to party and gamble, there is a seemingly infinite array of casinos, restaurants, nightclubs, and hotels keeping the city running. This massive tourism industry makes for a massive number of jobs in the service industry. If you enjoy working in hospitality or food service, employment is easy to come by in Vegas. Minimum wage in Nevada is relatively low at $8.25 per hour, but the luxury establishments in Vegas make for good tip money.

According to the US Census, the average household income in Las Vegas is $51,522 per year, which is lower than both the average household income for the state of Nevada as a whole, and the national average. While there are plenty of job opportunities in hospitality and retail, Las Vegas lacks the high paying positions in STEM and business that is the bedrock of other cities' economies.

Another problem is that an over reliance on the service and tourism industry leaves the city vulnerable to economic collapse in the face of a recession. However, Las Vegas's city government is working to diversify the city's economy. In particular, they are expanding the clean energy sector, which would create many new lucrative jobs for city residents.

Las Vegas Entertainer

An Endless Array of Activity

Las Vegas is all about the highs and lows. If you play your cards right, Vegas can be an affordable place to live on a budget. But to really enjoy the glittering lifestyle the city is known for, you are going to have to drop some cash.

Overall, the cost of living in Vegas is relatively affordable. Expatistan ranked Vegas 50th out of 80 on their list of most expensive US cities. Groceries and day to day essentials tend to be in line with national averages, though its desert location makes local produce difficult to find.

As the American capitol of debauchery, Vegas offers an endless amount of entertainment. Try your luck at one of the many casinos, or spend a night sipping fishbowl drinks by a rooftop pool. Las Vegas also has an incredible selection of restaurants, with many famous chefs setting up culinary shop in the city. In addition, almost every musician will stop in Vegas during their national tours, so you are sure to be able to see your favorite performers live. Las Vegas also stages popular Broadway productions and has long running concert series for iconic stars.

Though Las Vegas is famous for its nightlife, its natural wonder is underrated. Nature lovers will love hiking through the Nevada Desert. The Valley of Fire State Park is only a short drive outside of the city, and is full of spectacular red rock formations.

There is never a dull night in Vegas. And with cheap rent and plenty of jobs, you can live the Vegas life all year long. Check out our Las Vegas rental listings and see if you want to call Sin City home.

 

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