- Net inflow (Q2 2023): 5,700
- Net inflow (Q2 2022): 6,700
- Top origin location: Los Angeles, CA
- Top out-of-state origin location: Los Angeles, CA
The median sales price of property in Las Vegas is $415,000, lower than the national average. The overall cost-of-living index is about on par with the rest of the country. However, Las Vegas tops this list for many reasons.
“Las Vegas is already one of the world’s top travel destinations; but as of late, it has definitely become more of a final destination for many,” said Daniel Del Pozo, Las Vegas native and local real estate agent at Leading Real Estate Companies of the World. “Over the past 40 years, the city has been one of the fastest growing in the country, but more recent aspects of the city’s growth have become more prominent beacons attracting more and more people to want to move here.”
He continued, “As with most of Nevada, Las Vegas residents benefit from having no state income tax, no recurring natural disasters, and a pretty resilient housing market. Along with the current ‘mass exodus’ of California because the cost of living has risen so high over the past decade, the job market in Las Vegas has been growing beyond that of just the Strip as we now have giants like Google, Amazon, Switch Communications, and more offering tech avenues for careers in addition to the thousands of casino/resort opportunities. Also, Las Vegas homes over the past 30 years have an average yearly appreciation of 8%-12% in the most popular areas.”
Zimbelman corroborated this by noting Las Vegas’s lack of state income tax, good corporate tax rates, affordable housing, and great weather.
Note: Cost of living data compiled from the Missouri Economic Research and Information Center
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