[AmberGhost]

Ok I've done a search and read through postings on the Vegas cost of living and the factors that contribute to it.

But one thing remains unclear for me. And that is the effect, if any, of the low overall tax rate and how that impacts the COL in Vegas.

I am retired career military and currently work in IT, remotely, so at least for now my job is portable.

I visited Vegas this past year and absolutely loved Las Vegas. I ride a motorcycle and saw your smooth as glass highways as mannah from heaven compared to the disastrous roads of Ohio.

Its pretty much come down for me to a choice between Vegas and San Marcos TX as a final move. Would be working for a few years then packing it in and retiring.

I'm aware of the low overall tax rate in Vegas but was really surprised to find that, when doing cost of living comparisons, Vegas ranked higher than the national average for every community in the Vegas area. Las Vegas is ranked 20% more expensive than San Marcos and housing is 39% more expensive. I know that this COL varies depending on neighborhood.

I would not mind and in fact prefer living in an outlying area, countryish, assuming that exists there, if I could still be in relatively easy driving distance of decent restaurants.

So 2 questions:

1. All things considered is the Vegas area still considered cheaper than average? Does that low tax rate cancel out the fact Vegas COL is higher than the national average?

2. Is living in an outlying, more rural area still feasible with decent access to amenities? If so, some recommendations?

Thanks very much for your input.

[Camaro5]

We came from Illinois where the taxes will kill you. Here we pay no state income tax and our property tax is 1/4 of what it was there. Just that alone makes it worth it.

Overall, some things cost a little more here, others don't, and some are about the same. I've done the number crunching and we do come out ahead living here, but for us it's more than just about money. It's about living in the place that makes you happy.

[LRWalker]

We too have found the COL lower, but we came from California. There are many extra benefits here for Veterans. We have never been happier

[soclose]

As long as you can find a job that’ll pay you for what you’re worth. Don’t be surprised if they low ball you.

[lvmensch]

The cost of living in Las Vegas is not low. It is and has long been within a percent or two of the national average. I have no idea where this comes from. It simple is not true.

LV is cheap compared to S. CA or Chicago or NYC. But so is most anywhere.

It does represent a substantial tax haven for those from CA. or other high tax places.

But it ain't cheap cost of living wise. Just average.

[Willy702]

Vegas was cheap about 20 years ago. Long gone.

As for your other question, well you'd have to come out and see what "rural" communities there are. There are a few that might sort of qualify (Pahrump is the most likely to meet your needs), but until you have experienced it you wouldn't understand what the West is like in terms of layout. It is not like Ohio or anything east of the Mississippi where there are all these small communities along the roads between major cities. Its big city, its suburbs and then nothing for long stretches and this is especially true in Las Vegas. Once you leave the last edge of suburbs you are in the middle of nowhere and its all government owned land so there aren't even farms or communities, just empty desert.

[08grad]

Cost of living is high and will continue to rise as (1) the housing supply is restricted by baby boomers who aren't selling, (2) builders aren't building single family homes because Millennials don't make enough to afford them and can't save for the down payment, and (3) a consistent influx of middle-class Californians moving here that were priced out of their state adding to the demand.

Pahrump is the closest thing to a rural area in Vegas, but it's over an hour away. It has all of the amenities you need (grocery, auto, home improvement, restaurants, DMV, etc.). Boulder City gives you a small town feel only 30 minutes from the strip.

[airics]

I'm still trying to figure out how my coworker is getting a house financed.. they are buying new... 2800sf. 380k. she makes 32k and the boyfriend makes 55k as a new nurse. they are putting 3.5% down and their credit is mid 600s... they are financing 360k

I think its insane for a first house but to each their own

[foundapeanut]

If he doesn't screw up, steal drugs etc he'll have a great career.
Maybe since its a new house, the builder has some kind of special offer on financing.

That much sq footage at that price, must not be a very desirable area.

[lvmensch]

That would be a little tight but is not outrageous...particularly if their other debts are small. Some of the financial services have been offering 3.5% FHA with 580 scores. The loan payment will run around two grand. They are going to be house poor for a while but not outrageous.

I would generally counsel a first time buyer to stay away from new build because of the premium and the costs of setting up a new house.