It is a dream of many to go and live in Las Vegas. Some want that because of all that classic Vegas stuff (you know what we mean by this), and some simply find Vegas pleasurable on its own, as a city to live in. However, both groups of people have to think about how much money are they going to need if they decide to live in this fabulous city for some time (although a good portion of the first group doesn’t care). We have to stop generalizing and ask the important question – how much money will you need for the rent? So, renting a place in Las Vegas – expenditures edition. Let’s begin!
Renting a place in Las Vegas – let’s get straight to the point
The average rent in Las Vegas for an apartment is around $1.100. But this won’t tell you much.
Of course, the space type dictates the price. It is well known that a one-bedroom apartment is going to cost less than a two-bedroom one. Also, the location of an apartment or a house is important. Your average one-bedroom apartment is going to cost you about $780, a two-bedroom apartment you will get for an average of $940. Or maybe getting a studio might not be a bad idea, since you can get an average one for $620.
Think about what you want and how much money you are willing to spend on rent.
You also have to include the price of moving and storage
More and more people in the USA use storage. It is simply a great convenience to have a storage unit. This means that you have to include the price of a local storage unit in your calculations if you decide to get one.
However, what you almost certainly need to get is help from professional movers. Make sure to find movers who are reliable and professional if you want to move to Vegas. Our friends from New Planet Moving tell us that this is important.
The median home value
If you in the meantime decide that you want to buy a home in Las Vegas and raise a family in Nevada, you have to know that the median home value today sits just below $300.000. We can say that this is a reasonable price, and you can find good homes for less. Remember this is the median (average) home value.
Also, the prices of real estate are expected to grow, so it might not be a bad idea to buy some real estate and sell it later. Real estate is expected to grow by about 7% next year, which makes Vegas real estate a lucrative investment. Or you can rent it for a steady inflow of cash.