Reasons to Retire in Las Vegas, NV

Las Vegas might be known for its nightlife, but it’s also a great place to retire. Warm temperatures, reasonable tax rates, a relatively low cost of living, proximity to outdoor recreation, and no shortage of entertainment opportunities are just a few reasons retired individuals choose to call Las Vegas home. If you’re planning a place to spend your retired years, here are some top reasons to consider Sin City.

Why You Should Retire in Las Vegas

1. Tax-Friendly

Florida may have a reputation for attracting retirees, but Nevada ranks right up for popular retirement destinations. A significant incentive is its taxes (or lack of). Nevada has low property tax rates. Additionally, it does not have inheritances or estate taxes. If you’re planning to tap into your savings, you’ll be pleased to know that you will not face taxes for your retirement account withdrawals or income for public and private pensions.

2. No State Tax

Along with getting a break on property taxes and personal taxes, moving to Las Vegas also means that you will avoid state taxes. If you want to retire in a nice place without breaking the bank, Las Vegas is a great destination. Your money will go further living in Las Vegas than in many other metro areas in the US, which is good news for retirees who want to live comfortably on a budget. If you’re wondering exactly how much you might pay in taxes, a mortgage company Las Vegas can provide an accurate estimate.

3. Low Cost of Living

Compared to the rest of the United States, the cost of living in Las Vegas is relatively low. The average price of a home, according to Zillow, is $291,800 in Las Vegas. That number is less than the average home price for Scottsdale, Arizona, Palm Springs, California, and many areas in Florida, which means that you will also have lower monthly mortgages Las Vegas. As an added incentive, the cost of healthcare, utilities, and essentials such as groceries are lower in Las Vegas than they are in many locations.

4. Weather and Climate

With an average of 294 sunny days per year, Las Vegas has nearly three months’ more sunny days than most places in the United States. Additionally, Las Vegas receives about five inches of rain each year, on average, while most of the United States receives nearly 40 inches of rain annually. Snowfall is virtually nonexistent in Las Vegas, and you don’t have to worry about icy conditions. On the Best Places Comfort Index, Las Vegas has a score of 7.4 out of a possible 10, which makes it one of the most comfortable places in Nevada and the US.

5. Entertainment

One of the most appealing aspects of Las Vegas is fun and entertainment for everyone. It is not just a place for retirees, nor is it just a destination for younger crowds. In fact, Las Vegas has some popular specials and incentives throughout the year for its senior residents, which are called “Senior Days.” Local casinos often offer their own discounts and specials geared towards older residents as well. Additionally, the world-famous Las Vegas strip has plenty to offer with gambling opportunities, live shows, stores and outlets for shopping, and people-watching. (Get your guide to refinancing here.)

6. Outdoors

While many people go to Las Vegas for its nightlife, there are many beautiful, peaceful, and quiet recreational opportunities within a city’s short distance. Lake Mead, Lake Tahoe, Hoover Dam, and the Cathedral Gorge State Park are some spectacular natural areas close to Las Vegas and offer a reprieve from city life. Las Vegas also has some of the highest volumes of golf courses of all cities in the country, and its golf courses consistently rank among the top.

7. Dining

If you’re looking for great food, look no further than Las Vegas. Las Vegas is home to some of the world’s top restaurants, including some establishments owned and frequented by celebrities. An eclectic combination of Brazilian, Mexican, Chinese, Japanese, Italian, American cuisines, and more await, along with world-class cocktails, throughout the city.

8. Convenient Access

If you have reservations about moving away from family and loved ones, rest assured that Las Vegas is a very easy place to reach. And with amenities for all ages, everyone will want to pay a visit. The McCarran International Airport in Las Vegas offers connecting flights daily across the United States and worldwide.

9. Fun and Adventure

There is no shortage of wonderful places to check out in and around Las Vegas, from eclectic museums to world-class spas and resorts. Whether you’re in the mood for a vibrant social scene or a quiet escape to nature, Las Vegas has it all.

10. Health

Statistics show that many senior citizens who retire in Las Vegas (76%) report having exceptional health. Less than 10 percent report poor health. Quality of life, access to good healthcare facilities, and plenty of ways to stay fit and active are vital contributors.

11. Older Communities

Las Vegas is home to many older communities, which means you’ll find like-minded people and plenty of amenities. Tennis, swimming pools, club rooms, indoor spas, and libraries are just a few of the many amenities the city’s 55+ communities offer. A mortgage lender can provide more information if you’re thinking of purchasing a home or condo in a retirement community.

If you’re thinking of calling Las Vegas your next home, don’t hesitate to contact us for more information. We will happily provide you with more housing information and explain why Las Vegas is a great place to live.