Best Affordable Places to Live in Nevada in 2024
(Last Updated – 12/2023)
Nevada, a western state of about 3.2 million people, is one of the sunniest in the country. The south boasts mild winters, while the north experiences four seasons. It’s home to natural wonders, including stunning mountains, the Great Basin, and Lake Tahoe, the nation’s largest alpine lake, which straddles the border with California. Nevada is also the undisputed gaming capital of the U.S. with entertainment and gaming hot spots like Las Vegas and Reno.
The average cost of living in Nevada is just north of the national average, and the state’s average effective property tax rate is 0.48%, well below the national average of 0.99%, so you can likely find a place to meet your budget. Let’s take a look at the best affordable places to live in Nevada and the cost of living in some of Nevada’s big cities and smaller towns.
Best Places to Live in Nevada
Ultimately, the best place to live in Nevada will depend on your needs and wants, whether you’re a young professional looking for a job, a retiree seeking a place to spend your golden years, or you’re outdoorsy and itching for a wilderness adventure. If you’re a big-city person, Las Vegas and neighboring cities may be your ticket, but there are plenty of small towns if you want a quieter lifestyle.
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Best Affordable Places to Live in Nevada
Nevada is one of the U.S. states where wages have failed to keep pace with rising home prices in recent years, meaning you will see higher price-to-income ratios here than in many other states. However, even Nevada’s bigger cities offer affordable options. If you’re looking to buy a home and you are a first-time homebuyer, look into programs that can help you save on a home mortgage and more. Consider going through the mortgage preapproval process to make yourself more competitive in the housing market. And check out this list of most affordable places to live in Nevada.
1. Carson City
Photo credit: iStock/halbergman
Carson City, located in the northern part of the state, is the capital city of Nevada and is 32 miles from Reno. The city boasts beautiful parks, scenic trails, museums, art venues, and many shops and restaurants. It provides easy access to the great outdoors with Lake Tahoe just 20 miles away.
Population: 58,130
Median Household Income: $62,217
Cost of Living: 99% of the U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 7.4
Average Property Tax: 0.53%
Housing Affordability: The median monthly rent in Carson City is $1,850, or 7% lower than the national median. The rental market is cool, and decreasing demand may mean that rent prices fall in the future.
2. Las Vegas
Photo credit: iStock/f11photo
Perhaps Nevada’s most famous — and infamous — destination, Las Vegas boasts hotels, casinos, night life, and diverse restaurants, so there’s always plenty to do. Winters are mild, but summers are very hot. When you’re tired of hanging out on the strip and feel the need to commune with nature, nearby parks, like Red Rock Canyon, provide access to the great outdoors.
Population: 656,274
Median Household Income: $61,356
Cost of Living: 101% of the U.S. average
Median Rent Price: $1,925
Home Price-to-Income Ratio: 6.5
Average Property Tax: 0.64%
Housing Affordability: Median rent price in Las Vegas is $1,925, 4% lower than the national median. Prices have been falling year-over-year, but a warm market suggests they may begin to rise.
3. Boulder City
Photo credit: iStock/benedek
Home of the Hoover Dam, and established to house its builders, Boulder City provides easy access to outdoor activities on Lake Mead, in Black Canyon, and on the Colorado River. It’s just 26 miles outside of Las Vegas, so it offers quick access to the resources of a much bigger city.
Population: 14,890
Median Household Income: $69,746
Cost of Living: 101% of the U.S. average
Median Rent Price: $1,400
Home Price-to-Income Ratio: 6.3
Average Property Tax: 0.64%
Housing Affordability: Median rent prices in Boulder City are 30% lower than the national median at $1,400 per month. Rental prices have dropped precipitously over the past year, and a cooling market suggests that trend may continue.
4. Reno
Photo credit: iStock/alacatr
Reno calls itself “The Biggest Little City in the World.” Located in Northern Nevada, it has a semi-arid climate that goes through four seasons. The city has a thriving food scene, with lots of local restaurants, bars, and coffee shops. It’s home to casinos and nightlife, and cultural institutions like the Nevada Art Museum. Reno is just 45 minutes from Lake Tahoe, and has easy access to hiking, water sports, and world renowned skiing.
Population: 273,448
Median Household Income: $67,557
Cost of Living: 105.4% of the U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 7.8
Average Property Tax: 0.56%
Housing Affordability: Median rents in Reno are $1,800, below the national median. What’s more, rents have fallen year-over-year in a cool market, which means they may continue to fall. The average home value here is over $520,000, and many are priced far higher so there are definitely buyers in Reno who will need a jumbo mortgage loan.
5. Gardnerville
Photo credit: iStock/gchapel
With the Sierra Nevada mountains as a backdrop, this small town offers lovely views and has century-old downtown buildings that house local art, crafts, and antique stores. About 60% of households here are families. The commute to Reno isn’t about an hour, and the drive to Lake Tahoe takes only 30 minutes.
Population: 6,037
Median Household Income: $62,143
Cost of Living: 98% of the U.S. average
Median Rent Price: $2,150
Home Price-to-Income Ratio: 9.2
Average Property Tax: 0.56%
Housing Affordability: With a home price-to-income ratio of 9.2, Gardnerville has few lower-priced properties; if you’re looking for a home for under $400,000, you may have to bide your time here.
Recommended: Mortgage Prequalification vs. Preapproval
Best Places to Live in Nevada for Families
Looking to raise a family in Nevada? Here are five cities to consider.
1. Winnemucca
Located in northwestern Nevada, Winnemucca is one of the smaller cities on our list. It offers a spread-out suburban feel, and families can explore local attractions like the Humboldt Museum, get in a round of bowling at Spare Time, or picnic in Vesco Park. Water Canyon Recreation Area offers hiking, biking, and camping. Families may appreciate the city’s above-average schools.
Population: 8,388
Median Household Income: $70,543
Cost of Living: 89% of the U.S. average
Median Rent Price: $1,600
Home Price-to-Income Ratio: 4.3
Average Property Tax: 0.62%
Housing Affordability: Though median rents in Winnemucca are 20% below the national median at $1,600 per month, prices have risen significantly year-over-year. That said, a cool market may put a damper on that trend.
2. Elko
Photo credit: iStock/Michael_Buck
A bit bigger than Winnemucca, and toward the eastern part of the state, Elko offers a similar suburban feel. Families may enjoy the Ruby Mountain Balloon Festival, heading to the rodeo at the Silver State Stampede, or hiking, horseback riding and snow sledding in the Humboldt National Forest. (Parents also like the above-average school system.)
Population: 20,756
Median Household Income: $80,148
Cost of Living: 93% of the U.S. average
Median Rent Price: $1,425
Home Price-to-Income Ratio: 4.1
Average Property Tax: 0.56%
Housing Affordability: Like the cost of living in Elko, median rents here are below average. That said, the rental market is warm, and rents have been on the rise over the past year. The home price-to-income ratio is one of the state’s best — good news for those looking to buy. If you’re one of them, consider these tips to qualify for a mortgage.
3. Carson City
Photo credit: iStock/halbergman
In addition to its many parks and green spaces, Carson City, boasts family-friendly activities, including the Children’s Museum of North Nevada, the Nevada State Railroad Museum, and the Carson City Aquatic Facility. Families are also drawn here by the public schools, which are above average.
Population: 58,130
Median Household Income: $62,217
Cost of Living: 99% of the U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 7.4
Average Property Tax: 0.53%
Housing Affordability: The median monthly rent in Carson City is $1,850, or 7% lower than the national median. The rental market is cool and decreasing demand may mean that rent prices fall in the future.
4. Reno
Photo credit: iStock/alacatr
There are nearly 38,000 family households in Reno, and kids may enjoy The Discovery science center or a weekend excursion to the Reno Riverwalk or National Automobile Museum. Outdoorsy families will be happy just 45 minutes from Lake Tahoe, where they can enjoy hiking, swimming in the lake, or skiing in the winter.
Population: 273,448
Median Household Income: $67,557
Cost of Living: 105.4% of the U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 7.8
Average Property Tax: 0.56%
Housing Affordability: Median rents in Reno are $1,800, below the national median. What’s more, rents have fallen year-over-year in a cool market, which means they may continue to fall.
5. Henderson
Photo credit: iStock/DenisTangneyJr
Right next door to Las Vegas, Henderson is the second-largest city in Nevada. Parents might look here because of its well-rated school system. The city is also in close proximity to the University of Nevada, Las Vegas. Outdoor recreation areas like Cornerstone Park, which features a 31-acre lake, nature trails, picnic areas, sports facilities, and a playground, provide spaces for families to gather and play.
Population: 331,415
Median Household Income: $79,611
Cost of Living: 108% of the U.S. average
Median Rent Price: $2,192
Home Price-to-Income Ratio: 5.8
Average Property Tax: 0.64%
Housing Affordability: Henderson offers a relatively affordable option for individuals looking to live in a bigger city. Median rent prices are about 10% higher than the national median. Average home values hover around $460,000.
Best Places to Live in Nevada for Young Adults
Nevada’s larger cities are most likely to provide career opportunities for young adults.
1. Carson City
Photo credit: iStock/halbergman
Carson City is the most affordable among our picks for young adults. It’s the state capital, so it makes sense that while about 66% of people work in private companies, about 21% work in government. The city does skew a bit older. Only 13% of the population is 25 to 34.
Population: 58,130
Median Household Income: $62,217
Cost of Living: 99% of the U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 7.4
Average Property Tax: 0.53%
Housing Affordability: The rental market here is cool and the typical home value here is around $458,000, which may be a reach for some first-time homebuyers but is relatively affordable for Nevada. Considering buying a home? Familiarize yourself with different types of mortgage loans, and visit a home loan help center to familiarize yourself with mortgage basics.
2. Las Vegas
Photo credit: iStock/f11photo
Nevada’s largest city may offer the most opportunities for job, entertainment, and companionship. The biggest employers are the resort companies that run the city’s famous casinos, but the city also has large health-care employers and is a growing tech hub with many startups setting up shop.
Population: 656,274
Median Household Income: $61,356
Cost of Living: 102% of the U.S. average
Median Rent Price: $1,925
Home Price-to-Income Ratio: 6.5
Average Property Tax: 0.64%
Housing Affordability: Rent prices here have been falling year-over-year, but a warm market suggests they may begin to rise.
3. Reno
Photo credit: iStock/alacatr
Reno skews slightly younger than Las Vegas and Carson City, with 17% of the population falling between the ages of 25 and 34. As in Las Vegas, casinos, resorts, and health care companies are the top employers. There are plenty of things to do here for young adults, even those who don’t gamble: Explore parks, visit the Nevada Museum of Art, or climb the world’s tallest outdoor artificial rock wall.
Population: 273,448
Median Household Income: $67,557
Cost of Living: 105.4% of the U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 7.8
Average Property Tax: 0.56%
Housing Affordability: Median rents in Reno are $1,800, below the national median. What’s more, rents have fallen year-over-year in a cool market. At any given time there are hundreds of homes for sale here, including many priced below $400,000.
4. Henderson
Photo credit: iStock/DenisTangneyJr
Henderson provides easy access to the vibrant nightlife of Las Vegas just next door. There are also plenty of job opportunities, not just in entertainment but in technology, with Google and Amazon opening large data centers in the city. The Las Vegas Raiders have also built their headquarters in town.
Population: 331,415
Median Household Income: $79,611
Cost of Living: 108% of the U.S. average
Median Rent Price: $2,192
Home Price-to-Income Ratio: 2.56
Average Property Tax: 0.64%
Housing Affordability: Henderson offers a relatively affordable option for individuals looking to live in a bigger city. Median rent prices are about 10% higher than the national median and the rental market is cool.
5. Fernley
Photo credit: iStock/jmoor17
Fernley is about 30 miles east of Reno, a fair commute for young adults who work in Reno but are in search of lower housing prices. Living in Fernley also puts residents within easy reach of Pyramid Lake, the home of the Paiute Tribe, one of America’s most beautiful desert lakes, and a fishing mecca.
Population: 24,261
Median Household Income: $77,701
Cost of Living: 88% of the U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 4.7
Average Property Tax: 0.57%
Housing Affordability: The rental market is warm here and the average home value is around $368,000.
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Best Places to Live in Nevada for Retirees
The mild climate and low cost of living draw many retirees to Nevada. What’s more taxes, in the state are relatively low, and Social Security benefits are not taxed at the state level.
1. Mesquite
Photo credit: iStock/Solidago
Mesquite is located on the Virgin River on the border of Arizona. It’s home to hotels, casinos, and golf courses. If you’re thinking of retiring here, you’re not alone: 42% of the population is 65 and older.
Population: 21,992
Median Household Income: $63,757
Cost of Living: 94% of the U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 5.8
Average Property Tax: 0.64%
Housing Affordability: Median rental price in Mesquite is an affordable 10% lower than the national median. Though prices have risen some year-over-year, a cool market may mean that trend is slowing. The home value average, at around $372,000, makes this a relatively affordable spot.
2. Gardnerville
Photo credit: iStock/gchapel
Located near the California border and Lake Tahoe, Gardnerville has plenty for older residents to do, including enjoying parks, antiquing, restaurants and art galleries. What’s more, there are about 2.5 doctor’s offices and a recreation center for every 1,000 residents. Plus Lake Tahoe is just 32 minutes away, providing near unlimited opportunities for outdoor recreation. A quarter of Gardnerville residents are 65 or older.
Population: 6,211
Median Household Income: $62,143
Cost of Living: 98% of the U.S. average
Median Rent Price: $2,195
Home Price-to-Income Ratio: 9.23
Average Property Tax: 0.56%
Housing Affordability: With its proximity to desirable Lake Tahoe, rents in Gardnerville are a bit above the national average. The rental market is cool, however, and rents have fallen year-over-year. Home prices have also fallen recently but the average home value here is still over $500,000.
3. Boulder City
Photo credit: iStock/benedek
Boulder city has a large concentration of retirement communities, with about 1 per 1,000 residents, and about 30% of the population is 65 or older. Because it is near the shores of Lake Mead, there are plenty of opportunities for outdoor recreation, and at just 25 miles from Las Vegas, the city is a stone’s throw away from nightlife and culture.
Population: 14,890
Median Household Income: $69,746
Cost of Living: 101% of the U.S. average
Median Rent Price: $1,400
Home Price-to-Income Ratio: 6.3
Average Property Tax: 0.64%
Housing Affordability: Median rent prices in Boulder City are 30% lower than the national median at $1,400 per month and the market is cooling recently. The average home value is around $439,000.
4. Las Vegas
Photo credit: iStock/f11photo
Las Vegas is a good option for retirees looking for an active retirement. It boasts easy access to health care and a large number of retirement communities and recreation centers in addition to its famed hotels, casinos, and nightlife.
Population: 656,274
Median Household Income: $61,356
Cost of Living: 102% of the U.S. average
Median Rent Price: $1,925
Home Price-to-Income Ratio: 6.5
Average Property Tax: 0.64%
Housing Affordability: Rent prices have been here but the market is warm. The size of the market here will work to a buyer’s advantage: There are many homes to choose from priced around $300,000 even though the city’s overall price-to-income ratio is high.
5. Laughlin
Photo credit: iStock/DenisTangneyJr
Located on the border of California and Arizona, Laughlin is home to resorts and casinos, the Big Bend of the Colorado Recreation Center, and plenty of opportunities for golf. The median age of residents here is around 60.
Population: 8,658
Median Household Income: $42,133
Cost of Living: 84% of U.S. average
Median Rent Price: $1,350
Home Price-to-Income Ratio: 6.18
Average Property Tax: 0.64%
Housing Affordability: Median rental prices in Laughlin are $1,350, 33% lower than the national median and the rental market is cool. The average home value here is a modest-by-Nevada-standards $260,000.
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Best Places to Live in Nevada for Outdoor Recreation
Nevada is home to mountains, deserts, rivers, and stunning lakes, providing ample opportunity for outdoor recreation.
1. Fernley
Photo credit: iStock/jmoor17
Just 34 minutes outside of Reno, Fernley is nestled close to Lake Tahoe, Washoe Lake, and Pyramid Lake where residents can hike, fish, kayak, and mountain bike. There is skiing in the nearby Sierra Nevadas.
Population: 24,261
Median Household Income: $77,701
Cost of Living: 88% of the U.S. average
Median Rent Price: $1,795
Home Price-to-Income Ratio: 4.74
Average Property Tax: 0.57%
Housing Affordability: Median rent in Fernley is slightly lower than nearby Reno. The rental market here is warming. The median home value here is $368,373.
2. Winnemucca
Winnemucca is a small town in northwestern Nevada. Residents can explore the Winnemucca sand dunes, hike or mountain bike in the Water Canyon Recreation Center, and hike the Winnemucca Mountain Trail on the city’s namesake peak.
Population: 8,388
Median Household Income: $59,119
Cost of Living: 89% of the U.S. average
Median Rent Price: $1,600
Home Price-to-Income Ratio: 4.26
Average Property Tax: 0.62%
Housing Affordability: Median rents in Winnemucca are 20% below the national median at $1,600 per month. The average home value hovers around $300,000.
3. Carson City
Photo credit: iStock/halbergman
Carson City sits at the foot of the Sierra Nevada mountains, offering access to many hiking trails and world-class skiing at the resorts surrounding Lake Tahoe. Residents can raft the Carson River, and fish the surrounding lakes and streams.
Population: 58,130
Median Household Income: $62,217
Cost of Living: 99% of the U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 7.4
Average Property Tax: 0.53%
Housing Affordability: The median monthly rent in Carson City is $1,850, or 7% lower than the national median. The average home value here is around $458,000.
4. Boulder City
Photo credit: iStock/benedek
Boulder City is home of the Hoover Dam, which created Lake Mead. Residents can hike and bike by the lake, or enjoy the water while boating, fishing, and even scuba diving.
Population: 14,890
Median Household Income: $69,746
Cost of Living: 101% of the U.S. average
Median Rent Price: $1,400
Home Price-to-Income Ratio: 6.3
Average Property Tax: 0.64%
Housing Affordability: Median rent prices in Boulder City are nicely below the national median. As noted above, the average home value is around $439,000.
5. Las Vegas
Photo credit: iStock/f11photo
A city known for hotels shaped like Egyptian pyramids, Roman Palaces, or the City of Paris may not be the first to mind when it comes to outdoor recreation. But Las Vegas is close to some of the nation’s premier national parks, including nearby Red Rock Canyon. The city can also serve as a jumping off point to some of the crown jewels of the national park system, including Zion National Park and Death Vallue, each a two-hour drive away, and the Grand Canyon, a four hour drive.
Population: 656,274
Median Household Income: $61,356
Cost of Living: 102% of the U.S. average
Median Rent Price: $1,925
Home Price-to-Income Ratio: 6.5
Average Property Tax: 0.64%
Housing Affordability: Median rent price in Las Vegas is $1,925, 4% lower than the national median. The home market here is robust with properties available at a wide range of price points.
The Takeaway
As you consider whether to live in Nevada, carefully consider the cost of living by state. If you decide Nevada is right for you, consider your needs and your budget as you explore your options. Large cities may offer the most opportunities and amenities, and many have quick access to nature. Smaller towns are relaxing and may be situated closer to the spectacular scenery Nevada has to offer.
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FAQ
Is Nevada a good place to live 2024?
Nevada offers a variety of cities in rural, suburban, and urban destinations. The average cost of living for the state is about 1% above national average, meaning there are many affordable options, whether you’re an adventure nut, younger adult, family, or retiree.
What is the best city to move to in Nevada?
The best city for you will depend on your needs and preferences. If you like a large urban setting, Las Vegas or Henderson may be good fits. However, if a small town close to nature is more your style, you might consider towns in the Lake Tahoe region.
Where is the best place to live in Nevada for weather?
For the most part, the climate in Nevada is arid or semi-arid. Cities in the northern portion of the state experience four seasons, while Las Vegas and other cities in the southern part of the state experience mild winters and hot summers.
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