Retiring in Nevada? Here’s the Rental Breakdown for 4 Popular Cities!
Housing expenses are typically one of the largest costs in anyone’s monthly budget, and this is no different for retirees. According to the Bureau of Labor Statistics, in 2023, housing accounted for approximately 33% of the average person’s monthly budget.
By retirement age, many people find themselves renting again, whether they’ve sold their homes to access cash or due to financial challenges that make homeownership impractical. For those retirees looking to rent, Nevada offers some attractive and affordable options.
To identify the most affordable rental cities for retirees, GOBankingRates examined rental costs across major U.S. cities, along with overall living costs.
Using data from sources like the U.S. Census, Sperling’s BestPlaces, ApartmentList, and Zillow, they identified four Nevada cities that stand out as budget-friendly retirement destinations.
Las Vegas
Las Vegas offers retirees more than just its famous Strip and vibrant nightlife; it’s a popular retirement spot with a warm climate, no state income tax, and an array of amenities tailored to older adults. In Las Vegas, approximately 15.3% of the city’s 644,835 residents are aged 65 or older.
The city boasts affordable rent options, with an average monthly cost of around $1,100 for a one-bedroom apartment and $1,334 for a two-bedroom. Overall, retirees can expect to spend about $3,564 per month on living expenses.
The city’s livability score is also high at 82, making it a comfortable choice for those looking to settle in Nevada.
Henderson
Just outside of Las Vegas, Henderson provides a quieter alternative with many of the same benefits minus the hustle and bustle of the tourist scene. Known for its parks, golf courses, and a variety of fitness and recreational facilities, Henderson is particularly appealing to retirees focused on maintaining a healthy lifestyle.
The city also attracts a significant number of retirees, with 20% of its 318,063 residents aged 65 or older. Rent here averages $1,373 per month for a one-bedroom apartment and $1,625 for a two-bedroom, offering affordability for those considering shared housing.
Henderson’s livability score stands at a respectable 74, ensuring a pleasant living environment for retirees.
Reno
Reno may have a reputation for its casinos, but it also ranks as a highly affordable and welcoming city for retirees.
The cost of a one-bedroom apartment in Reno is around $1,036 per month, while a two-bedroom costs about $1,296. The total monthly living expenses in Reno are approximately $3,200, which is lower than in Las Vegas.
With 15.8% of the population over 65, retirees can easily find a sense of community. Reno combines affordability with a strong support network for older residents, making it a solid choice for those seeking both budget-friendly housing and social opportunities.
North Las Vegas
North Las Vegas, Nevada’s fourth-largest city and one of its fastest-growing, is another excellent retirement option. This city, with its unique history and identity separate from Las Vegas, offers retirees an affordable lifestyle.
The monthly rent for a one-bedroom apartment is approximately $1,047, while a two-bedroom costs about $1,275. Total monthly living expenses average $3,654, and North Las Vegas boasts a livability score of 76.
Retirees who choose this city benefit from its affordability and access to various amenities without the crowds associated with nearby Las Vegas.
These four Nevada cities present a range of affordable rental options, each with unique benefits for retirees.
Whether seeking the social scene of Las Vegas, the tranquility of Henderson, the affordability of Reno, or the distinct charm of North Las Vegas, Nevada offers diverse choices for those enjoying their golden years.