What’s the Cost of Living for Las Vegas, NV, USA?
If you are living in the Las Vegas, NV, area, how much do you need to make to pay for basic necessities? According to the US Bureau of Labor Statistics, Consumer Expenditure Survey for 2022, the total across all households is $83,317 per year. Here are some statistics about the basic necessity costs with some specific data for the Las Vegas, NV, area.
Housing
“A typical home costs $384,000, which is 13.6% more expensive than the national average of $338,100 and 7.9% less expensive than the average Nevada home, at $417,100. Renting a two-bedroom unit in Las Vegas costs $1,540 per month, which is 7.7% more than the national average of $1,430 and 5.8% more than the state average of $1,450.” (Best Places)
Transportation
“Public transportation is limited, and car-related costs are higher than national averages. According to AAA, a gallon of gas in Clark County cost $3.933 as of early January 2024...On top of that, car insurance in Las Vegas will cost you around $2,929, which is pricier than the average in Nevada and across the country.” (Bankrate)
Food
“Nevada has the fifth-highest food costs in the country, according to a study by Lensa. According to the MIT Living Wage calculator, a single adult living in Las Vegas will spend about $4,000 a year on food. For a family of four, the annual food expenditure is $11,764.” (Bankrate)
Health
“Analyses of data from America’s Health Rankings cited within the report show Nevada dropped from 35th in the country in 2019 for overall health outcomes to 42nd in 2022. In their responses, residents said they had difficulty accessing primary health care services, faced long wait times for care and experienced barriers to receiving behavioral health and supportive services.” (The Nevada Independent)
Child Care
As of June 2024, the average starting rate for child care providers in Las Vegas, NV is $18.28 per hour. The weekly cost for child care providers working a 40-hour week in Las Vegas, NV is $731 while the monthly cost is approximately $2,376 for 130 hours of work. (Care.com)
“The entire state of Nevada is classified as a ‘child care desert’ with nearly 75% of children under 5 years not having access to a child care provider, according to a 2022 report by the First Five Years Fund, a bipartisan organization that focuses on policies that benefit the developmental stage of childhood.” (Reno Gazette Journal)
If you want more information such as a monthly cost breakdown and employer recommendations for pay structures in Las Vegas, NV, then join our FREE Pay Equity Collective to access the full report. This is a small example of the work we provide to our clients when looking at employee pay structures.
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