The 7 Best Places to Live in Nevada

There are plenty of reasons to move to Nevada. For one, the state is brimming with natural landscapes, including iconic desert scenery, providing plenty of opportunities for nature lovers to go hiking and camping.

It also has a growing economy driven by industries like tourism and technology, bringing with it enticing job prospects, complemented by the absence of state income tax.

The favorable climate, ample sunshine, and mild winters appeal to those seeking a comfortable living environment. With affordable housing options contributing to a lower cost of living than in other states, you can enjoy a high quality of life if you move to Nevada.

And then, of course, you’ll always have the option of exciting weekend plans while living in Nevada, with cities like Las Vegas, known for world-class entertainment, diverse dining, and rich cultural scenes.

While the state’s education and healthcare systems are not its greatest strengths, outstanding educators and healthcare professionals are dedicated to improving the lives of their pupils and patients, no matter the obstacles.

Thus, without further ado, we’ll talk about the seven best places to live in Nevada in this article. We’ll go into some other essential factors you’ll want to consider before you make this exciting decision.

The 7 Best Places to Live in Nevada in 2024

1. Reno

Reno, often called ‘The Biggest Little City in the World,’ is nestled along the Humboldt-Toiyabe National Forest, which connects to Yosemite National Park.

This city offers myriad outdoor activities, such as skiing, hiking, and fishing. The area’s appeal extends beyond recreational opportunities to include a range of labor and professional opportunities.

Property prices in Reno are reasonable, given the region’s popularity and access to outdoor activities. The average investment for a family home surpasses $200,000, slightly above the national average, making it an attractive option for potential residents with secure financials.

Reno boasts 76 public schools, providing parents with diverse educational options for their children. While Nevada is not known for its academic prowess in general, many of these schools surpass national expectations in terms of performance, contributing to the city’s reputation as an excellent place for families.

Young professionals can explore numerous job opportunities, affordable apartments, and a vibrant mix of bars and restaurants. Families benefit from excellent public schools and a variety of kid-friendly activities. Retirees can enjoy the natural beauty of the Sierra Nevada, the Truckee River, and the nearby Lake Tahoe.

2. Henderson

Henderson is a captivating city close enough to Las Vegas for those seeking excitement but far enough away to escape the chaos. Home to attractions such as the Clark County Museum, the Lion Habitat Ranch, and Lake Mead, it offers a unique blend of cultural and natural wonders.

With a resident population exceeding 200,000, it draws residents who appreciate the accessibility to both Las Vegas and Summerlin, providing flexible work commute options.

The city distinguishes itself with notably low crime statistics compared to other Nevada cities, fostering a sense of security for newcomers. Property prices in Henderson have rebounded, surpassing $200,000 in median home value.

As the second-largest city in Nevada, it presents residents with the advantages of a major urban center without compromising safety.

The city boasts various recreational amenities, including bike paths, trails, golf courses, and lakes.

Entertainment and activities abound in Henderson, featuring attractions such as the Lion Habitat Ranch, Clark County Museum, Cowabunga Bay Water Park, The District at Green Valley, Henderson Bird Viewing Preserve, Lake Las Vegas, and Galleria at Sunset.

3. Las Vegas

Hailing with a spirited “Viva Las Vegas!”—no compilation of Nevada’s best places to live would be complete without acknowledging the allure of this vibrant city.

Despite its mediocre statistics, it’s not just a gimmick — Las Vegas can be a great place to live. To its credit, it has a diverse resident population exceeding 600,000, and the median household income slightly dips below the national average, standing at over $50,000 annually.

While the cost of living is higher, the positive note lies in the average monthly income surpassing $4,000, providing ample disposable income. With a median monthly rent exceeding $1,000, there’s enough financial flexibility to navigate daily life.

For those familiar with Las Vegas’s existing demographic, it’s no surprise that the city ranks as the 15th best in the entire United States for retirement.

Some of the city’s standout activities include the Fremont Street Experience, The Neon Museum Las Vegas, the Bellagio Fountain, the High Roller Ferris Wheel, Hoover Dam, Springs Preserve, The Venetian, Zak Bagans’ The Haunted Museum, and the iconic Las Vegas Strip.

Beyond the glitz and glamour of hotels and casinos, Las Vegas shines as an excellent place to live for families and professionals alike. Residents savor exceptional dining, affordable neighborhoods, and arts and culture outside the bustling Las Vegas Strip.

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4. Sparks

Situated in Washoe County, Sparks has a population of over 93,000 residents who enjoy its delightful living environment.

A standout feature for Sparks is its median home value, making it one of the most economically viable places to invest in property within Nevada. Additionally, the median rent aligns closely with the national average, rendering Sparks an attractive option for prospective tenants in the state.

Residents frequently commend the area’s safety, abundant facilities, and social opportunities. A short drive from Downtown Reno, Sparks enjoys many entertainment options, including casinos, cinemas, and restaurants.

Noteworthy attractions in Sparks include Sparks Marina Park, Wild Island Family Adventure Park, The Outlets at Legends, Coconut Bowl at Wild Island, Sparks Heritage Museum, Rock Park, and Red Hawk Golf and Resort.

Just a brief drive from the bustling City of Reno, Sparks offers a suburban ambiance enriched with urban amenities. The city hosts popular restaurants, bars, parks, and highly-rated schools, making it an appealing choice for young professionals and families seeking a family-friendly atmosphere in Reno.

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5. Incline Village

Incline Village might capture your interest if the vibrant charm of the bustling city is not your cup of tea. Nestled on the shores of Lake Tahoe and enveloped by the renowned Nevada pines, this ski village offers an enchanting alternative.

However, there’s one aspect to consider – property prices. Incline Village boasts an impressive average home value of a quarter of a million dollars; truthfully, finding a property for less than a million dollars is rare. Yet, the investment is undeniably worthwhile. Homes in this area exude a chalet ambiance, adorned with wooden cladding and surrounded by evergreen beauty.

Despite its relatively small resident population of over eight thousand, Incline Village offers ample amenities. The public schools here are among the finest in the state, enhancing the appeal of this picturesque locale.

Incline Village on Lake Tahoe is ideal for those seeking a country club lifestyle in a scenic part of the state. While on the pricier side, this affluent community is a Nevada paradise. Its attractions include relaxing lake beaches, watersport activities, nearby skiing trails, and the renowned Lake Tahoe Shakespeare Festival.

Some of the noteworthy activities in Incline Village include Diamond Peak Ski Resort, Sand Harbor State Park, Tahoe East Shore Trail, Bowl Incline Bowling Alley, Burnt Cedar Beach, Flume Trail Bikes, Lone Eagle Grille, and Incline Beach.

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6. Verdi

While Verdi might not be the first choice for those searching for a new home in Nevada, it deserves consideration. Boasting just over fifteen hundred residents, Verdi exudes a strong sense of community, resembling a village despite its suburban classification on paper.

Residents often highlight that the primary concern regarding crime is the occasional DUI, a relatively minor issue in the grand scheme of things and unlikely to significantly impact those interested in property investment in Verdi.

The area’s public schools shine, totaling 25, with the top five earning an A rating. With a median household income surpassing $60,000, Verdi stands in contrast to exclusive neighborhoods like Incline Village, presenting a homely and welcoming atmosphere that’s easy to appreciate.

Verdi offers residents a rural ambiance and top-notch public schools. Its reputation is further enhanced by a safe environment, outstanding schools, and a tight-knit community, making Verdi a popular choice among Nevada families.

Some noteworthy activities in Verdi include Crystal Peak Park, Cabela’s Outdoor Sports Store, Mayberry Park, Hunter Creek Trailhead, Hunter Creek Falls, and Peavine Pike.

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7. Mogul

Positioned equidistantly between Verdi and Reno, Mogul is a delightful compromise for those who found Verdi appealing but deemed the commute to Reno too distant.

With a resident population of around 1,300, Mogul fosters a robust sense of community, making it an ideal haven for those with children and looking for a safe neighborhood with a strong focus on outdoor living.

The town’s notable attractions include the Peppermill Resort Spa Casino, Animal Ark, Pioneer Center for the Performing Arts, Galena Creek Regional Park, and the Sierra Nevada Zoological Park.

For professionals, families, and retirees seeking a suburban haven, Mogul emerges as an ideal choice. Mogul encompasses a strong community spirit, some of the state’s best public schools, and a convenient commute to neighboring Reno.

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Nevada’s economic outlook

1. Largest industries

In Nevada, the primary contributors to revenue include Casino Hotels, Lotteries & Native American Casinos, and Hospitals, generating $32.3 billion, $17.2 billion, and $10.9 billion, respectively, in the year 2023.

2. GDP by sector

Nevada’s GDP by sector reveals that the Real Estate and Rental and Leasing, Accommodation and Food Services, and Healthcare and Social Assistance sectors collectively accounted for 36.5% of the state’s GDP in 2023.

Analyzing GDP trends by sector provides valuable insights into the industries that contribute significantly to the state’s economic value-add and offers a perspective on the evolving dynamics of the state’s economy over time.

3. Employment landscape

The Accommodation and Food Services, Transportation and Warehousing, and Retail Trade sectors dominate Nevada’s employment landscape, collectively constituting 46.7% of state employment in 2023.

4. Construction trends and the economy

In Nevada, non-residential construction reached $7.6 billion in 2023, positioning the state at 45th among all US states. Residential construction amounted to $99.5 million, ranking Nevada 30th nationally.

The significance of construction trends extends beyond the immediate sector, as it plays a pivotal role in the state’s job creation, income generation, and tax revenue.

Furthermore, the impact of construction sector activity reverberates through its supply chain, influencing various sectors such as manufacturing, wholesaling, warehousing, transportation, real estate, rental, and leasing services.

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Population and demographics

In population size, Clark County, Washoe County, and Lyon County stand out as the most populous counties in Nevada, hosting 2,311,479, 516,759, and 64,931 individuals in 2023.

Demographic Snapshot of Nevada

If we look at Nevada’s demographics, we will find that 28.8% of the population holds a Bachelor’s degree or higher. The predominant ethnic group in the state is White, constituting 45.4% of the total population.

Real estate market in Nevada

The Nevada real estate market is currently undergoing a significant transformation. In April 2023, the median sale price witnessed a year-on-year decrease of 9.06%, accompanied by a 32.4% drop in the number of homes sold.

This shift has prompted new buyers to enter the market, given the stabilization of mortgage rates, which currently stand at 6.79% as of November 2023.

Despite indications of a warming housing market in Nevada, potential threats loom, particularly in the form of a possible increase in interest rates and a housing market recession.

Buyers currently hold a more advantageous position in the market, marked by a considerably slower pace compared to post-pandemic highs. Projections suggest a potential 20% decrease in home prices in Nevada.

Mortgage rates have nearly doubled, escalating from 5.10% in May 2022 to 6.79% in May 2023, representing a 33.13% increase.

While sellers are gradually returning to the market, evidenced by a 29.1% increase in listings in April 2023 compared to January 2023, homes in Nevada are taking longer to sell.

A property’s average time on the market has increased to 53 days, marking a 35-day extension compared to the previous year.

Nevada’s current housing market scenario mirrors the nationwide heightened demand and limited supply pattern.

Statewide, a decline in home sales has impacted home prices, signaling a shift after a decade of consistent price increases, making homes affordable for many homeowners.

1. Nevada Housing Market Statistics:

1. A. Average Home Prices: The median home price in Nevada currently stands at $415,200, reflecting a 9.06% year-on-year decrease. Forecasts for 2023 predict a roughly 4% drop in median sale price growth, marking the first annual decline since 2012. As of April 2023, the sale-to-list price ratio is 98.1%, showing a 3.3-point year-on-year decrease.
2. B. Home Sales: In April 2023, home sales hit a low of 3,424, marking a substantial 32.6% year-on-year decrease.
3. C. Average Rent Prices: The average rent paid by tenants in Nevada in 2023 is $1,494.
4. D. Pending Sales: February saw a 0.8% growth in pending home sales for the third consecutive month, with 5,412 pending listings in Nevada.
5. E. Median Days on Market: The median days a home spends on the market is 53 days, marking an increase of 35 days year-on-year.

The potential for a housing market slowdown, rather than a crash, is suggested by several economists in Nevada. The recent stabilization of mortgage rates following a banking crisis has instilled confidence in more buyers entering the housing market.

Check out these five reasons supporting the belief that the housing market in Nevada is unlikely to experience a crash:

1. A. Low Months of Supply: The data from May 2023 reveals a mere 2.6 months’ supply, leading to heightened buyer competition and often resulting in bids exceeding the listing price. This scarcity aligns with the law of supply and demand, indicating the stability of home prices.
2. B. Low Newly Constructed Housing Supply: The supply of newly constructed houses has yet to return to pre-2007 levels. Challenges in acquiring land, obtaining regulatory approval, and swiftly increasing supply contribute to this limitation.
3. C. New Buyers Entering the Market: Strong demand persists across various demographics, with Millennials and Hispanics in their prime buying years. Limited inventory remains available due to this sustained demand.
4. D. Strict Lending Standards: Stringent lending standards, in contrast to the lax practices leading up to 2007, ensure that mortgage lenders in Nevada prioritize borrowers with excellent credit scores, minimizing the risk of default.
5. E. Fewer Foreclosures: Most homeowners possess significant home equity, enhancing overall financial stability. High equity, in turn, reduces the likelihood of a surge in foreclosures in Nevada.

As for the possibility of a housing bubble, experts acknowledge its existence, citing escalating home prices, limited supply, record-high mortgage interest rates, and a notable decline in homebuyer interest.

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Tips for buying a home in Nevada

In a slow market, buyers should carefully assess the property’s value, beware of potential defects concealed by sellers, and avoid short-term investments that may contribute to increased inventory.

Embarking on buying a home in Nevada can be daunting and exhilarating. To ensure you’re well-prepared, consider the following tips for navigating the process in the Silver State:

1. A. Early Saving Prioritization: Take stock of both one-time and recurring expenses associated with homebuying, such as down payments, closing costs, move-in fees, and property taxes. Initiate a savings plan to equip yourself for the purchase financially.
2. B. Maintain a Healthy Credit Score: Recognize the influence of your credit score on loan eligibility and interest rates. Uphold a positive credit history by consistently paying bills on time, keeping credit cards open, and regularly monitoring your payments to enhance your credit score.
3. C. Organize Loan Paperwork: Anticipate the documentation lenders require to validate your financial standing, encompassing income, assets, and debts. Maintain an organized file containing essential documents like tax returns, W-2s and 1099s, and bank statements.
4. D. Explore First-Time Homebuyer Programs: Investigate state and city-sponsored first-time homebuyer programs that may offer low-interest rate loans, down payment assistance, closing cost assistance, and other incentives to facilitate your home purchase.

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Education in Nevada

1. Public school system

In a recent report by Scholaroo, Nevada secured the 49th position in education, narrowly surpassing Oklahoma, which came in last. The report focused on metrics assessing educational attainment and school quality. Additionally, Nevada held the 46th rank in school systems, considering factors such as student access, school quality, and student safety.

However, as with any state or city, many Nevada public schools are excellent, with highly motivated educators and programs that offer students the opportunity to partake in AP studies and extracurricular activities.

2. Private schools

Nevada’s Educational Choice Scholarship Program offers financial aid to eligible students from families earning less than 300% of the federal poverty level. This assistance enables them to attend one of the 97 designated private schools, most of which are in Clark County.

For the 2022-2023 school year, the maximum amount payable per student through the Opportunity Scholarship was $8,726, determined based on the Consumer Price Index.

Notably, the average tuition for private schools in Nevada is $10,303 annually. Elementary schools have an average tuition of $10,544 yearly, while high schools average $11,407 yearly.

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Healthcare

In Nevada, approximately 12.8% of adults reported going without necessary healthcare due to cost, slightly higher than the national average of 10%.

However, a significant majority, 74.6%, have a usual source of care. Among adults with any mental illness, 38% reported unmet needs. In comparison, 61% did not receive treatment, indicating gaps in mental health care services.

Around 39.4% of adults in Nevada did not have a dental visit in the past year, slightly higher than the national average of 35.3%. In contrast, 67% of children in the state received needed mental health care, and 52.4% had medical and dental preventive care visits in the past year. However, only 34.1% of children had a medical home, indicating potential areas for improvement in healthcare accessibility.

Regarding youth mental health, 51% of young people with depression in Nevada did not receive mental health services, compared to the national average of 60%. On a positive note, 74% of children in the state received all recommended vaccines.

Regarding key demographics, Nevada has a population of 3.1 million, with a median household income of $63.4K. About 31% of the population falls below 200% of the Federal Poverty Level (FPL).

The racial distribution is 46% White, non-Hispanic; 9% Black, non-Hispanic; 30% Hispanic; 8% Asian American, Native Hawaiian, or Pacific Islander, non-Hispanic; and 1% American Indian or Alaska Native, non-Hispanic.

Nevada’s policy landscape includes:

• Medicaid expansion.
• A state-based marketplace for health insurance.
• The establishment of a public coverage option.

For those eligible for Medicaid, Nevadahealthlink.com is the central government website where you can find more information about signing up.

Healthcare for children in Nevada

Nevada Check Up, the State of Nevada’s Children’s Health Insurance Program (CHIP), offers coverage for children from birth through 18 years of age based on income eligibility.

Families with an annual income up to 200% of the federal poverty level, which amounts to $50,200 for a family of four, may qualify for this program. While eligible participants must pay a quarterly premium determined by family size and income, they are not responsible for additional costs like co-payments and deductibles.

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Exploring the outdoors

Now, let’s get to the fun stuff!

Renowned for its hiking, biking, and rock-climbing possibilities, Nevada extends beyond urban life, providing an array of outdoor pursuits. With some of the most breathtaking natural landscapes in the nation, immersing yourself in the great outdoors and savoring the invigorating Nevada air stands among the finest experiences.

Discover these exciting recreation areas in Nevada:

1. A. Spring Mountain Ranch State Park: Nestled in Blue Mountain, Nevada, this public recreation site encompasses hiking trails, picnic spots, an open-air theater, and a historical re-enactment venue.
2. B. Cathedral Gorge State Park: Situated in Panaca, Nevada, along Route 93, this public recreation area spans 2,000 acres and features walking trails, camping grounds, picnic areas, and a visitor center.
3. C. Valley of Fire State Park: Encompassing nearly 46,000 acres south of Overton, Nevada, this public recreation and nature preservation site showcases red sandstone formations dating back 150 million years.
4. D. Lake Tahoe – Nevada State Park: This expansive state park on Lake Tahoe’s northeast shore in Incline Village, Nevada, sprawls across approximately 14,301 acres, offering hiking trails, beaches, and boat launches.
5. E. Lake Mead National Recreation Area: Located in Boulder City in southeastern Nevada, this vast 1.5 million-acre park provides water activities, walking trails, picnic spots, and a visitor center.
6. F. Red Rock Canyon National Conservation Area: This national reserve boasts striking red rock formations in the Mojave Desert, creating an ideal setting for hiking and rock climbing in Clark County.
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Conclusion

Nevada is a state with a multifaceted allure, intricately woven into its unique blend of natural beauty, economic vibrancy, and cultural richness.

From the captivating desert landscapes that offer a playground for outdoor enthusiasts to the flourishing job market fueled by diverse industries, Nevada presents a compelling case for those contemplating a move.

The absence of state income tax and a favorable climate adds to its charm, as do housing affordability and the vibrant lifestyle in cities like Las Vegas.

Nevada’s inclusive communities create a welcoming environment, enhancing the overall living experience should you make the Silver State your new home.