Las Vegas Real Estate News

California's Loss Is Henderson's Gain

"For many years, more people have been leaving California for other states than have been moving here. According to data from the American Community Survey, from 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population." - https://lao.ca.gov/laoecontax/article/detail/265

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At the same time, the city of Henderson, Nevada, is growing rapidly. There are number of reasons that Henderson is growing, many of them because they are the opposite of California.

  • Affordable Homes - For decades, California has had the most expensive housing in the country. Even when the housing boom drove up prices everywhere, California was still in the lead. Today, Southern California and San Francisco are consistently the most expensive places in the country to live. San Francisco has entered the list of the most expensive places in the world. In
  • Henderson, by contrast, it is much less expensive to buy a home. New housing is being built all the time, and land is much cheaper here than in SoCal.
    Cheaper Utilities - In Henderson, a homeowner can save thousands a year in water as compared to California. Electricity and gas are also much less expensive.
  • Pay to COL Ratio is Upside Down - In a perfect world, your cost of living (COL) is less than your pay. In Henderson, that's the case, but in most of California, the cost of living is very high compared to salaries. From the outside, the pay seems high in the Golden State, but it's still not enough for the cost of living.
  • Taxes Are Very High - California has legendarily high taxes. For many Californians, this is part of a trade-off for better living, but if you can't afford to live there and not have 2 full-time jobs, it's not better living. Henderson offers the same sunshine and beautiful living without the high taxes.

California might still be a great place to see movie stars and enjoy the ocean, but many Californians are discovering Nevada, particularly Henderson, as the place to move where the living is good.

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