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What is it Like to Live in Las Vegas?

Teresa McCormick February 19, 2024

 
Discover the allure of living in Las Vegas beyond the bright lights! From no state income tax to world-class entertainment and burgeoning sports scene, explore the unbeatable perks of calling Sin City home. 

SEGMENT 1: NO STATE INCOME TAX

Nevada is one of the states in the United States that does not impose a state income tax on individuals. The absence of a state income tax can have several potential benefits, both for residents and for the state's economic environment:

Tax Savings for Individuals: The most direct benefit is that residents of Nevada do not have to pay state income tax on their earnings. This can result in more take-home pay for individuals and families compared to residents in states with income taxes. The material impact of having to pay no state income tax can be the difference in becoming a homeowner or not. Having to pay no income tax directly impacts your ability to handle the big-ticket items such as paying for college, buying a new car, investing in your retirement account and possibly the most important, becoming a homeowner the affordability of everything becomes much easier! Don’t underestimate the importance on your quality of life this can have! This is one of the main reasons why Las Vegas has become a “Retirement Destination”. Individuals on fixed incomes, such as pensions and Social Security, who are no longer able to work will benefit from not having to pay state income tax on their retirement income. This also contributes to the “Economic Growth” of the local economy by leaving more money in the hands of consumers and businesses, thus creating more jobs!

SEGMENT 2: LOW PROPERTY TAXES

Nevada has one of the lowest real-estate property taxes in the country. According to a report by WalletHub in March of 2023, Nevada has the 4th lowest real-estate property taxes in the entire nation. As property owners know that live now in high property tax states like California, Texas, New Jersey, and New York, this can have a huge impact on your monthly expenses and how much of your hard-earned income you’re able to keep in your pocket. These savings you’ll incur by living in Las Vegas compared with a high property tax state, can be monumental over the years, allowing you to invest those savings into whatever you so desire.
 

SEGMENT 3: CLIMATE

First off, let's talk about the weather. Imagine waking up to sunny skies almost every day! Las Vegas is a perfect place for those who prefer to skip winter coats. 
 
  • Las Vegas Climate (According to US Climate Data)
  • July / Aug hottest months averaging a high of 103°
  • Dec / January are the coldest months averaging a low of 58°
  • Average annual precipitation is 4.19 inches.
  • 21 days per year w/precipitation 
  • Snowfall is rare but does occur, receiving around 1 inch per year.
  • Annual high temperature averages 80°
  • Annual low temperature averages 59°

SEGMENT 4: COST OF LIVING

The fourth reason to move to Vegas is the cost of living is surprisingly affordable for a city this size. From housing to daily expenses, Las Vegas is a haven for those seeking an excellent quality of life without burning a hole in their pockets.
 
  • Cost of Living Index 
  • Las Vegas (71.29)
  • Los Angeles (94.89)
  • New York (100.00)
  • Seattle (103.31)
  • San Francisco (112.94)
  • Atlanta (95.33)
  • Chicago (90.09)
  • Philadelphia (80.11)
  • Boston (92.76)

SEGMENT 5: TRANSPORTATION

Transportation in Las Vegas is extremely diverse and includes various options for residents and visitors. Here are some key aspects of transportation in Las Vegas:
 
  • Driving: Las Vegas is a car-centric city, and many residents rely on personal vehicles for daily commuting. The city is well-connected with a network of highways, making it easy to navigate by car. Parking is generally available at hotels, shopping centers, and other popular locations.
  • Public Transit: The Regional Transportation Commission of Southern Nevada (RTC) operates the public transit system in Las Vegas. This includes buses that serve different routes throughout the city and surrounding areas. The Deuce and SDX buses are popular options along the Las Vegas Strip.
  • Ride-Sharing: Ride-sharing services like Uber and Lyft are widely available all throughout Las Vegas, providing convenient transportation within the city.
  • Monorail: The Las Vegas Monorail connects several major hotels and the Las Vegas Convention Center along the east side of the Las Vegas Strip. It offers a quick and efficient way to travel between these locations.
  • Walking: In certain areas, especially along the Las Vegas Strip, walking is a popular mode of transportation. Many attractions, hotels, and entertainment venues are within walking distance of each other.
  • Bicycling: Some areas of Las Vegas are bike-friendly, and bike lanes can be found in certain parts of the city. Bike-sharing programs may also be available.
  • Taxis: Taxis are readily available at hotels, airports, and designated taxi stands. It's a convenient option for those who prefer traditional taxi services.
  • Airport Transportation: McCarran International Airport serves Las Vegas, and various transportation options, including shuttles and limousines, are available for airport transfers.
  • Brightline West High-Speed Train: will take passengers from Las Vegas to Los Angeles in just a little over 2 hours traveling almost 200 mph, which is twice as fast as the average drive time. They are planning to break ground on this historic endeavor in early 2024 with an ambitious goal of being open in time for the Los Angeles Summer Olympic Games in 2028.

SEGMENT 6: ENTERTAINMENT CAPITAL

Las Vegas is often referred to as the "Entertainment Capital of the World," and this title reflects the city's global reputation for offering a wide array of entertainment options. Several factors contribute to Las Vegas earning this distinction:
 
  • World-Class Shows and Performances: Las Vegas is renowned for its extravagant and high-profile shows. The city hosts a variety of performances, including residencies by famous musicians, magic shows, theatrical productions, and stand-up comedy. So, if you like great music, there’s not a better place as some of the current residencies in town are U2, Adele, Kelly Clarkson, Christina Aguilera, Carrie Underwood, Garth Brooks and Bruno Mars just to name a few. Or you can take in one of the 6 Cirque Du Soleil shows that are currently playing.
  • Casinos and Gaming: Las Vegas is synonymous with casino gaming. The city is home to numerous world-class casinos, each offering a unique gaming experience. The vibrant atmosphere and the variety of games attract millions of visitors each year.
  • Nightlife: The nightlife in Las Vegas is unparalleled, featuring trendy nightclubs, bars, and lounges. The famous Las Vegas Strip is lined with iconic venues that host top DJs, live music, and themed parties. 
  • Dining Experiences: Las Vegas has become a culinary destination, offering a diverse range of dining options, from celebrity-chef restaurants to buffets. Visitors can enjoy a wide variety of cuisines in the city. Some of the most famous world-renowned chefs are flocking to Las Vegas to opened signature restaurants including Gordon Ramsay, Wolfgang Puck, Guy Savoy, Emeril Lagasse and Bobby Flay are just a few of the many with some having multiple restaurants in town. 
  • Shopping: Las Vegas is known for its extensive and diverse shopping options from high-end luxury brands to unique boutiques and outlet malls providing visitors with opportunities for luxury shopping and unique finds. Check out the Forum Shops at Caesars Palace, the Grand Canal Shoppes at The Venetian, the Miracle Mile Shops at Planet Hollywood, the Fashion Show Mall, the outdoor shopping experience at Downtown Summerlin or the discounted prices at either of two Premium Outlet Malls Las Vegas has to offer. So, if shopping is your thing, Las Vegas has you more than covered.
  • Events and Conventions: Las Vegas hosts numerous events, conventions, and trade shows throughout the year, attracting people from various industries worldwide. These events contribute to the city's overall appeal and economic significance.
  • Themed Hotels and Resorts: Las Vegas is known for its themed hotels and resorts, each designed to provide a unique experience. Visitors can explore replicas of famous landmarks, enjoy themed entertainment, and experience different atmospheres within each resort.
  • Cultural and Recreational Attractions: In addition to its entertainment offerings, Las Vegas has museums, galleries, and recreational attractions that cater to a diverse range of interests. Some of the most popular sightseeing include a day trip to the Grand Canyon and a tour of the Hoover Dam just a couple of minutes away.

SEGMENT 7: OH, AND DID I MENTION IT’S ALSO QUICKLY BECOMING - THE SPORTS CAPITAL OF THE WORLD AS WELL

1. Professional Sports Teams: just in the last 7 years Las Vegas has become home to several professional sports teams, including:
 
  • Las Vegas Raiders (NFL): The Raiders moved to Las Vegas in 2020, and they play their home games in the incredible newly built Allegiant Stadium.
  • Vegas Golden Knights (NHL): The Golden Knights, an NHL expansion team, began playing in Las Vegas in 2017 achieving the historic accomplishment in reaching the Stanley Cup Finals in its inaugural season only to come up a little bit short that season, however finally reaching the pinnacle of success by winning the Stanley Cup last year.
  • Las Vegas Aces (WNBA): The Aces represent Las Vegas in the WNBA and are currently the two-time reigning champions, looking to three-peat as champions again this year.
  • Oakland A’s (MLB): the relocation of the Major League Baseball team the Oakland A’s has been approved with their inaugural season in Las Vegas expected to be in 2028.
  • NBA: The NBA chose Las Vegas for its In-Season Tournament championship series. And that's not all – we're in the running for an NBA expansion franchise when the league likely expands by two teams after the 2024-2025 season, with the legendary Lebron James and Shaquille O'Neal both expressing interest in ownership of the team!
2. Professional Boxing and MMA: Las Vegas has long been a hub for high-profile boxing matches and MMA events. The city's reputation as the "Boxing Capital of the World" is reflected in the numerous championship bouts through the years and with the UFC corporate headquarters and Hall-of-Fame being in Las Vegas, you’re guaranteed to have incredible UFC super fights scheduled locally.
 
3. High-Profile Sporting Events: Las Vegas frequently hosts major sporting events, including multiple NASCAR races each year, PGA Tour events, and the annual National Finals Rodeo (NFR).

4. Allegiant Stadium, T-Mobile Arena & the MGM Grand Garden Arena: are constantly hosting major college football and basketball Championships and Tournaments as well as internationally soccer matches.

Las Vegas's ascent as a sports hub isn't just luck; it's a result of a seismic shift in attitudes, especially with the NFL embracing sports betting. And the excitement doesn't stop – the anticipated arrival of the Oakland A's and ambitious plans for a $1 billion arena signal Las Vegas's commitment to sustained sports growth.
 

SEGMENT 8: MAJOR EVENTS & ATTRACTIONS

  • Formula 1 Racing:
Hold onto your seats because Las Vegas has embraced the speed and glamour of Formula 1 racing! The inaugural race took place in mid-November 2023 in the heart of the Las Vegas Strip with the track winding its way past the iconic locations like Ceasars Palace, the Bellagio and the Venetian. The inaugural Las Vegas Grand Prix is set to inject a staggering $1.3 billion into the local economy and with having a 10-year contract in place to race in Sin City through the year 2032, you can expect many years of high-speed, exhilarating racing in an atmosphere like nowhere else in the world!

  • Seismic Shift - NFL's Super Bowl 2024
The cherry on top – the 2024 Super Bowl has graced Las Vegas at the magnificent Allegiant Stadium. It's not just a game; it's a monumental event that marks a significant milestone in the city's sports evolution. This star-studded affair has brought so much excitement and entertainment to the city of Las Vegas not to mention the incredible windfall to local economy as the economic impact of hosting the Super Bowl are projected to be between $600 to $700 million.
 

BOTTOMLINE:

With all these amazing things happening in this city how could you not want to live here. If you're thinking about living in Las Vegas, we'd love to help! With Our accumulated experience, we can help you navigate the Las Vegas real estate market. Just give us a call, shoot us a text, send us an email, we'd love to help you make a smooth move to Las Vegas, Nevada! 

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