Aside from the incredible, world-famous nightlife and beautiful weather, people who plan to move to the global entertainment capital usually want to know what the cost of living in Las Vegas, Nevada is.
Did you know that the name Las Vegas comes from Spanish, and it means “Meadows”? The Sin City, as it’s also called, is the 28th-most populated place in the US, and the most populous one in the state of Nevada. Famous for its casinos and hotels, this entertainment capital is also among the top three business convention destinations in the US.
The title Entertainment Capital of The World derives from the fact that this city has more AAA Five Diamond hotels than any other county in the world. Besides being favored for its nightlife, shopping, entertainment, and gambling, the capital of entertainment acts as the commercial, financial, and cultural center of Nevada. Sounds great, right? But, if you are thinking about moving to Las Vegas, let’s see how much it costs to call this glamorous metropolis home.
Coming to the Heart of Nevada to Start a New Life – It’s Not All About Entertainment
Based on the experiences of previous travelers, those who want to spend a weekend here will need approximately $255 per day. The average price for eating out is $67 and $36 for local transportation. If you want to visit some of the attractions and think mid-ranged, you will need around $100. You can include a little bit of shopping as well. Hotel prices are not included because people usually book hotels in advance.
On the other hand, if your plans include living in Las Vegas, you will need to create a more sustainable budget plan. Depending on whether you are planning to rent or buy a place to live, you will also need a stable source of income to cover housing, groceries, transportation, and everyday activities.
Find out Everything About Prices and the Average Cost of Living in Las Vegas, NV
Despite being the kingdom of casinos and AAA diamond hotels, the cost of living here is cheaper than in 66% of cities in the US. So, planning to move there might not be that much of a financial exhibition.
As expected, the cost of living will depend on whether you are moving to a city alone or with a family. Either way, you should first think about everything necessary for the relocation itself and figure out how to save on moving costs. That’s why you should find reliable professionals who can provide moving and packing services, as well as the auto transport service if you plan to move your four-wheeler, too.
How Much Money Do You Need for Living Comfortably in Las Vegas, Nevada
The answer to this question depends on what you consider a comfortable lifestyle. In general, for a family with four, it will be around $4,000 a month, including housing, utilities, and groceries.
However, if you plan to relocate alone, the costs will be lower. Of course, as we said, it all depends on your chosen lifestyle. According to Numbeo, monthly rent for a 900sqft furnished apartment is $1,100, while for a 450 sqft, the price drops to $700. The monthly utility costs for a 450 sqft studio are approximately $100.
Another way to see if it is expensive to live in Las Vegas is by comparing the particular cost of living indices with the US average. Keep in mind that the US average is 100. Therefore, the cost of living index below 100 means that Las Vegas is cheaper, and above 100 that is more expensive than the US average.
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To help you to make a budget plan, here’s a list of essentials and how they will affect your finances.
Cost of Essentials Things in Las Vegas
If you are planning to purchase real estate, prices of apartments depend on whether you are planning to settle in the center or outside of it. So, if you want to buy an apartment in a central location, you will need $220 per square foot, but if you would rather live outside of it, a square foot is $170.
Basic utilities for a 900 sqft apartment, including electricity, water, heating, cooling, and garbage, are around $160. Other than that, you will need to cover the phone and internet bills. One minute of prepaid mobile tariffs, without discounts, is $0.27.
Going through your groceries’ list, you can see what your costs will look like: for one gallon of milk, you will need $3.5, for a loaf of fresh bread $2, and one pound of rice $1.5. A cardboard of eggs (12) is $2, and local cheese is $8. If you prefer meat, a pound of chicken filets is $3, and ground beef is $5.8. If you want to buy a bottle of mid-range wine, it will be $13. Domestic beer (0.5 bottle) is $2.5, and imported (0.33 bottle) is $3.5.
At some point after your move, you will need to renew your wardrobe. For instance, if you need a pair of jeans, that would be $45, and the price of a summer dress in chain stores, including Zara and H&M, is $35. When it comes to buying shoes or sneakers, a pair of mid-range Nike running shoes is $75, and men’s leather business shoes are $90.
Coming to a new city includes activities not just related to home and work. That is why you should be informed about the prices of activities you love, such as going to the theater, cinema, or dining in restaurants. Also, if you are a gym person or want to play tennis or any sport, find out how much money you will need for a monthly membership for these activities.
If you want to go to the gym, the monthly fee for one adult is $25, but if you are more a tennis person, one hour on the weekend of renting a tennis court costs $22. Other than that, if you wish to relax and enjoy your free time by going to the cinema, that pleasure is $12 per seat.
Being with your family and using your free time to do some fun things indoors, like prepping food, is quite enjoyable. But, once in a while, you’ll want to treat yourself in a fine restaurant. It’s a sweet going-out activity, and it is easy to find the best restaurants in Las Vegas on a budget.
If you want to surprise your kids and take them to McDonald’s, the price of McMeal or some other equivalent combo meal is $9. However, if you want to take your significant other to a romantic dinner in a mid-range restaurant, a three-course meal for two people is around $65.
This is how going for a drink will “affect” your finances: a cup of regular cappuccino is $4.3, and Coke or Pepsi is $1.70. If you would rather have a beer, a domestic one, draught, is $6, and an imported one is $8. For a bottle of water, you will need to pay $1.4.
The Cost of Local Public Transportation
Depending on how often you plan to use public transportation, you can consider buying a monthly pass, and that’s $65.00. If you don’t expect to use local transport daily, a one-way ticket is $2.
If you own a car, the price of one gallon of gas is $3.5. However, if using a cab is your primary choice for transportation, one mile of taxi drive is $3, but don’t forget about the starting fee– in Vegas, it’s $3.50, and that is the regular tariff.
The Cost of Education for Kids
Moving with kids requires a proper search for a school that will be good for your child. It is also essential to be aware of your financial status and if you will be able to handle all costs.
Once you move here, you’ll probably start looking for the right preschool or school for your child. A private preschool or kindergarten will cost you around $880 a month. If you want to send them to an international primary school, plan on spending around $15,000 a year. College tuition starts at around $6,000 and goes up from there.
The Cost of Living in Las Vegas vs California and Other US Cities
People may assume that every attractive and accessible destination has to be expensive. The truth is that some of those locations, even if marked as non-affordable, are the total opposite.
If you’re having some second thoughts about moving to the entertainment capital, and your biggest concern is that you can’t afford it, let’s compare it with the equally attractive and popular Los Angeles, California.
First of all, local consumer power in the capital of entertainment is around 11% higher than in LA. When it comes to other essentials, shown in figures, the situation looks like this: consumer prices are approximately 10% lower in Vegas. LA is more expensive for buying groceries, going to restaurants, and using transportation. Renting is also cheaper than in Los Angeles.
As you can see, the cost of living index in Sin City is lower than in the City of Angels. The situation is similar when you compare it to other major US cities. That’s why we can conclude that Vegas is relatively inexpensive to live in.
Another thing you are probably thinking about is what the cheapest ways to get here are. If you live in Columbus or Ohio in general, you can consider finding cheap flights from Ohio to Las Vegas.
What Is a Living Wage in Las Vegas?
Being the place of entertainment, casinos, and high-class hotels, Sin City is the right place to seek job opportunities in these fields. Also, the gaming industry is in full swing, so if you see yourself in this area, the capital of entertainment is the best place to be. When it comes to finances, an average monthly net salary is around $3,500.
Now that you know what your costs will look like, start packing your suitcases, find reliable Vegas movers and get ready to move to one of the most exciting cities in the world!