Here’s the Rent Gen X Should Expect To Pay in These 4 Nevada Cities
Written by
J. David Herman
Edited by
Amber Barkley
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As Nevada’s population continues to swell, it’s no surprise that many Gen Xers are making their way to the Silver State and looking for housing.
Based on data from USAFacts, Nevada has seen an overall population increase of 57% since 2000, and 1% bumps for both 2021 and 2022 — the most recent figures available. Nevada was the tenth most popular state for out-of-state movers in 2022, per a recent Zillow study of U.S. Census data.
Generation X — the demographic born between 1965 and 1980 — has certainly contributed. As an example, the city of Henderson, Nevada, was the 12th most popular landing spot for Gen X movers in the entire nation for 2022, according to SmartAsset.
Why the influx? Nevada’s lack of a state income tax, along with a low property tax rate and general affordability compared to many other states are often cited. As an example, average monthly rental costs in Nevada’s largest cities land in the $1,200 to $1,700 range — substantially lower than in many other large U.S. cities.
If you’re a member of Gen X who is interested in moving to Nevada, GOBankingRates has done some of your research for you. Using data from the U.S. Census American Community Survey, Sperling’s BestPlaces, ApartmentList, AreaVibes, the Zillow Home Value Index and the Bureau of Labor Statistics, here’s a financial snapshot of four Silver State locations: Henderson, Las Vegas, North Las Vegas and Reno.
Not interested in Nevada? Check out the average rent costs in cities across the U.S.
Henderson
- Total population: 318,063
- Livability score: 74
- Total annual cost of living: $45,792
- Average monthly rent overall: $1,686
- Average 1-bedroom monthly rent: $1,373
- Average 2-bedroom monthly rent: $1,625
A city of 65,000 residents as recently as 1990, Henderson is now home to about 320,000 people — the second highest population in the state. It is located just southeast of Las Vegas, surrounded by mountains in the Mojave Desert.
Las Vegas
- Total population: 644,835
- Livability score: 82
- Total annual cost of living: $42,773
- Average monthly rent overall: $1,399
- Average 1-bedroom monthly rent: $1,100
- Average 2-bedroom monthly rent: $1,334
“Sin City” markets itself as the “Entertainment Capital of the World” and has a compelling argument: Las Vegas is a world-famous hub for entertainment, gambling and numerous other attractions. In addition to the famed Las Vegas Strip, it offers numerous museums, cultural opportunities and many family-friendly attractions.
North Las Vegas
- Total population: 264,022
- Livability score: 76
- Total annual cost of living: $43,848
- Average monthly rent overall: $1,484
- Average 1-bedroom monthly rent: $1,047
- Average 2-bedroom monthly rent: $1,275
This Vegas suburb has become a formidable city in its own right, with the fourth-largest population in Nevada and the 75th largest in the entire U.S. Like the rest of the area, North Las Vegas has exploded growth-wise in recent decades. Its population was less than 50,000 as recently as 1990.
Reno
- Total population: 265,196
- Livability score: 81
- Total annual cost of living: $38,397
- Average monthly rent overall: $1,253
- Average 1-bedroom monthly rent: $1,036
- Average 2-bedroom monthly rent: $1,296
You’ll find Reno about 500 miles northwest of Las Vegas and roughly 135 miles northeast of Sacramento, California. Billed as “The Biggest Little City in the World,” it offers gambling, outdoor recreation and a burgeoning tech scene.
Methodology: For this study, GOBankingRates analyzed the average rental costs for major U.S. cities and the cost of living in those cities. GOBankingRates first sourced the 100 most populated cities from the U.S. Census American Community Survey. Additional information gathered for each city included total population, total households, population ages 65 and over, and household median income. Cost-of-living indexes were sourced from Sperling’s BestPlaces. The average overall rental cost, 1-bedroom rental cost and 2-bedroom rental cost were sourced from ApartmentList. The average cost of a condo or co-op was sourced from the Zillow Home Value Index. The livability index was sourced from AreaVibes. GOBankingRates used the cost-of-living indexes and the national average expenditure costs for all residents, sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/co-op value, assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage was calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city was calculated. All data is up to date as of Sept. 13, 2024.
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