As of 2024, the city of Las Vegas has 657,398 residents, which is an 8.7% increase over the past decade. With this population increase, it is no secret that more and more people are investing in real estate in the area.
If you are thinking about purchasing Las Vegas real estate, then you will want to get a good idea of what it's like to live in the city. These are the pros and cons of living in Las Vegas.
Pros of Living in Las Vegas
Las Vegas is a beautiful city, and there are plenty of great advantages to living in the area. Whether you are buying a house or are considering managing rental properties in Vegas, these are the benefits you can expect from the city.
The Entertainment and Nightlife
There is no other city like Las Vegas when it comes to entertainment and nightlife. You will experience some of the best shows, concerts, and events in the entire country. Heading over to the famous Strip provides you with a wide array of clubs, bars, and casinos for you to enjoy.
Because of the booming tourism and hospitality industry, the Las Vegas economy is thriving. There are plenty of job opportunities within the hotel, restaurant, entertainment, and convention industries.
Lower Cost of Living
The cost of living in Las Vegas is only 1% higher than the national average, which is an impressive statistic for such a large city. Housing, utilities, and transportation costs are low, making it a great option for those seeking affordability. Nevada is also one of the only states in the country with no state income tax.
Beyond the bustle of the Strip, Las Vegas offers many opportunities for outdoor enthusiasts. The city is surrounded by gorgeous natural attractions such as Red Rock Canyon and Lake Mead.
Cons of Living in Las Vegas
Moving to Las Vegas also comes with its drawbacks. However, even if you decide not to settle down in the city, you can still invest in real estate from out of state!
While some enjoy the warm climate, the summer temperatures in Vegas can be extreme. In the summertime, the temperature often soars above 100 degrees Fahrenheit.
The tourism industry is huge in Las Vegas, so this means you will likely deal with constant crowds, particularly on the Strip. This can be overwhelming to those who aren't used to living in such a busy area.
Limited Public Transportation
Las Vegas is designed for cars, and public transportation options are somewhat limited. There are bus services, but the city lacks an extensive public transit system that many other major metropolitan areas have.
Consider These Pros and Cons of Living in Las Vegas
Now that you know all of the pros and cons of living in Las Vegas, is Sin City a good fit for you? Whether you are buying a house and a homeowner or investing in real estate as a landlord, Avalon Realty & Oaktree Management, Inc. is here to help you. Give our experienced team a call today to learn more about investing in Las Vegas.