Discover Why People Are Moving to Las Vegas

Exploring the Advantages of Moving to Las Vegas

If you've been contemplating moving to Las Vegas, but you're still on the fence about making that final decision, this article may be just what you need to make a commitment either way. It provides insight into essential factors such as the Las Vegas housing market, employment opportunities, and more.

Before we dive into the details, though, it's worth mentioning that you're on the right path when considering Las Vegas as your next home. Why is this the case? Because Las Vegas boasts a wonderful mix of a robust city life with picturesque natural landscapes that allow for a wide variety of outdoor recreational activities. This combination provides residents with the opportunity to experience the best of both worlds, all set in one location that offers an affordable cost of living.

Las Vegas, along with its surrounding cities, such as Henderson, Green Valley, Boulder City, and others, offer opportunities for families, individuals, as well as those relocating for work. In addition to this, the area is well suited for those of all ages, and has a wide range of options when it comes to housing preferences. This includes single-family homes, condos, townhomes, and rental properties set within vintage neighborhoods, as well as new developments, with locations that offer traditional or luxury housing.

With all that said, below, we'll uncover the main advantages and opportunities that make Las Vegas a great place to live.

Las Vegas Residents are Not Required to Pay State Income Tax

When someone plans on moving to Las Vegas, they'll not only save a large sum of money due to this city's notably lower cost of living, but they'll also keep more money in their pocket come tax time. This is possible because Nevada doesn't impose a personal state income tax. Meaning that for W2 employees and independent contractors, there's no tax on income earned from salaries, wages, or related compensation, which increases take-home pay.

Here's a simple state tax comparison just to give you a visual of the amount of money you won't have to send off to the IRS.

Based on a yearly income of $125,000 for a single individual, these are the estimated state income tax totals without taking deductions or write-offs into consideration:

• Nevada (Las Vegas): $0
• California: $8,668
• New York: $6,452

As you can see, not having to pay state income tax can save Las Vegas residents money each year. These funds can be instead directed towards things such as building a retirement fund, taking family vacations, or even saving for a downpayment to purchase an income-generating rental property.

Property Taxes are Among the Lowest in the Country

In addition to no state taxes, it's worth noting that Nevada ranks as number eight in the nation for having the lowest property taxes. It comes in at 0.48%, while the national average sits at 0.99%, which certainly makes moving to and buying a house in Las Vegas more attractive. Related to this, Nevada doesn't impose estate or inheritance tax.

A Hub of Economic Growth and Employment Opportunities

When looking for an area to relocate to, whether you're thinking about moving to Las Vegas or any state within the U.S., it's important to ensure the job market is either currently performing well or growing.

Expansion of Job Opportunities for Residents as Companies Relocate to Las Vegas

Regarding job growth and expansion, the favorable no-state tax setup discussed earlier also applies to corporate taxes, which encourages businesses to move to the Las Vegas area, effectively boosting the economy and the job market. One business owner, Kent Yoshimura, co-founder of the multimillion-dollar company NeuroGum, realizing the financial advantages of the business-friendly tax environment Nevada offers, made the move from Los Angeles to Las Vegas.

Relocating his business brought Yoshimura and his company multiple advantages. As he explains, "The employment laws are a lot easier here, the affordability of a house, transportation. I live in Summerlin and it's 20 miles to my office and it takes 20 minutes. When I was in downtown [Los Angeles] to Koreatown where my office was, it was only 8 miles away and it took me 45 minutes."

With each new company that relocates to the area, the job market expands, creating employment opportunities for individuals and families moving to Las Vegas.

New Business Startups in Las Vegas Create a Larger Job Market

New company startups also contribute to a thriving job market, and Las Vegas new businesses are on the rise. In fact, the research firm, Crowdfund Capital Advisors, released a report last year that placed Las Vegas at the top of the list for pre-IPO business startups. In addition to this, the numbers show that last year, there were 625 new business startups that employed over 11,000 Las Vegas residents.

Overall, job growth is expanding in southern Nevada, with professional and business services, education, health services, as well as leisure and hospitality all on an upward trend. That said, with these sectors growing, along with the tourism industry and other various business types, there are plenty of job opportunities for those who are moving to Las Vegas and the surrounding area.

Rising Population Indicates it's a Desirable Location to Call Home

Anyone can say a city is worth moving to, but a true judge of a desirable location would be the number of people relocating to that area. According to Redfin's market report, 6,291 residents of Los Angeles moved to Las Vegas in the short period of time from April to June of 2024.

The Las Vegas metro area gains 8.2 new residents per day, as reported by Las Vegas Realtors®, and the Nevada Department of Taxation is expecting the population to reach 2,535,534, which would be up from 2,320,551 in 2021. These numbers are a testament to the fact that moving to Las Vegas is becoming a trend. Also of interest is a recent U-Haul study, which revealed that Henderson, which is just outside of Las Vegas, ranked high on its list of cities that people are relocating to. Travis Cochran-Kilman, President, U-Haul Company of Las Vegas East, comments on this, "We still see an influx of people leaving California and coming into Henderson. It's close enough to California that people can go back to visit family. Henderson also has new houses being built everywhere. We don't have the supply issues here that plague a lot of other areas around the U.S."

If you were on the fence about relocating to Las Vegas, the fact that so many others have packed their bags and made this city their home, should be reassuring.

Las Vegas Real Estate: Affordable Family Homes & Upscale Luxury Living

Las Vegas offers a wide range of residential properties that cater to different lifestyles. This includes families seeking affordable homes within suburban neighborhoods that often feature parks and nearby schools, which makes them a great fit for growing families.

This city also offers options for those looking for upscale luxury living, such as properties in exclusive gated communities that provide high-end amenities and breathtaking city views. Whether you're a good fit for a cozy family house or a luxury home, Las Vegas provides opportunities for these different preferences and budgets.

Let's expand on this a bit:

Reasonably Priced Homes, Condos, and Townhomes

Those who are looking for Las Vegas homes for sale may have noticed how reasonably priced they are. Yes, the Las Vegas housing market has experienced a rise in prices, but this is the case across the nation due to the current housing crisis, where a low inventory seems to be the theme. Even with a rise in housing purchase prices, Las Vegas is still more affordable than most cities.

Currently, single-family homes for sale in the Las Vegas area have a medium sales price of $510k, while condos are closing around $266k, and townhouses at $349k, according to Redfin. In comparison, San Diego, CA, single-family homes have a medium sales price of $1,250,000.

To get an idea of the housing market in Las Vegas, browse through the following listings:

• Real Estate for Sale in the Summerlin Area
• Home Listing in Henderson
• Las Vegas Homes that Feature Pools
• New Construction Properties in the Las Vegas Area
• Las Vegas 55+ Retirement Communities
• Condo Listings in Las Vegas
• Townhomes for Sale in Las Vegas and Surrounding Area

On a side note, it's also important to remember that while the cost of living makes Las Vegas real estate more affordable, it also lowers other costs such as groceries, gas, healthcare, and so on.

Upscale Luxury Homes in Las Vegas

It's well known that this particular city is where one can go to experience luxury accommodations, excitement, and an endless list of exceptional entertainment options. However, many are just visitors experiencing a luxurious, short-lived weekend. Traveling to Las Vegas for a short trip is well worth it, though, and that's why so many people come from all over the nation, as well as from other countries, to experience all that Las Vegas has to offer.

There are also those who love the luxurious lifestyle but want more than just a weekend experience, and so they actually make the commitment to move to Las Vegas. That said, more and more people are seeking out high-end homes in this location with the goal of making the "good life" a reality.

When it comes down to it, it's not difficult to buy a home in Las Vegas with luxury in mind. Why is this the case? Because there's a large selection of housing and location options to choose from. This includes homes within world-renowned golf courses with a few designed by Jack Nicklaus himself, and upscale gated communities set within iconic landscapes, as well as luxury condos, and high-end townhomes. There's also a wide variety of master-planned communities that incorporate exceptional amenities, spas, hiking trails, parks, lakefront homes, and more. Be sure to bookmark our latest article on the Las Vegas Luxury Real Estate Market for future reading if you'd like to learn more about acquiring an upscale property. Meanwhile, here are a few more resources that may spark your interest:

• Luxury Homes for Sale in Las Vegas
• Las Vegas Luxury Strip Condos

Residents Love the Multitude of Outdoor & Indoor Entertainment Options

The Las Vegas area is home to a limitless array of fun, engaging, and entertaining activities. On one hand, there's the entertainment typically found on the Strip, and what Nevada is famous for. Regarding this, imagine living in Las Vegas and deciding what to do on a Friday evening – perhaps buy tickets to Cirque du Soleil, or see all-time favorites such as David Copperfield, Barry Manilow, or Wayne Newton.

There's also the Hollywood Cars Museum, Las Vegas Natural History Museum, and the must-see Mob Museum. Maybe you'd book a seat for the Tournament of the Kings or the Blue Man Group; the options are endless. You could also enjoy the Eiffel Tower replica that's 46 stories high and provides a stunning view of the city, as well as luxury shopping, high-end casinos, and world-class dining.

The Opportunity to Experience the Great Outdoors Every Day

For those moving to Las Vegas and hoping to experience the great outdoors, you won't be disappointed. In addition to the beautiful landscapes that surround this city, you'll find popular spots in and around Las Vegas, such as Red Rock Canyon, where you'll experience seasonal waterfalls, go horseback riding, hiking, and just enjoy the breathtaking scenery.

There's also Lake Mead National Recreation Area and the Sierra Nevada mountain range, which is perfect locations for camping, mountain climbing, fishing, skiing, and hiking enthusiasts. Lastly, as mentioned, there are sensational golf courses for those who have a passion for the game.

If you're considering buying a house in Las Vegas, and you'd like to reside in an area that provides an active lifestyle, then this city certainly fits the bill.

Consider Moving to Las Vegas – It Could Literally Transform Your Life

Over the years, many people have moved to Las Vegas solely for the affordable housing prices and lower cost of living. Once they had a chance to settle in, they've expressed that they quickly learned this city offered much more than the chance to live in a nice home, but also a good quality of life – from the exceptional winter, spring, and fall weather, picture-perfect scenery, a friendly atmosphere and safe neighborhoods, as well as a setting that encourages an active lifestyle, and more.

Are You Ready to Make Las Vegas Your New Home?

If this article has sparked your interest in relocating to Las Vegas, and you're in need of a professional real estate agent who can help you find a home that fits your specific needs, then feel free to Contact Leslie Hoke. Leslie has more than 20 years of industry experience and has been noted as one of the top real estate professionals in the area.