Las Vegas Real Estate News

Nevada Keeps Growing And Has Reached A New Milestone

Thanks to an exodus from California, Nevada has reached a major benchmark - 3 million residents.

From July 2017 to July 2018, 50,000 Californians left the Golden State and arrived in the Silver State. That figure is 40 percent of all the people who arrived in Nevada at that time.

Nevada's lack of income tax and lower cost of living is a big draw for Californians. The average person without a high-tech job is struggling to keep up with the cost of living increases in the Golden State.

Nevada now has over 3 million residents.

That's not to say that the exchange is all one-way. Nevada lost 22,400 citizens to California as well. Often, this was for jobs that don't exist in the Silver State.

For those who choose to live in cities, the cost of living in Nevada's largest cities, like Las Vegas and Reno, is significantly lower than in Los Angeles or San Francisco, where home and condo prices and the cost of living lead the nation in many categories.

Median home values, California to Nevada (January 2020):

San Francisco: $1,392,859
Los Angeles: $723,783
San Diego: $652,175
Reno: $389,280
Carson City: $340,938
Las Vegas: $285,524

Just proximity to California increases the home values.

There are now more adults born in California living in Nevada than native Nevadans. This is causing a bit of a cultural shift that states like Texas are also beginning to see. Many amenities that are part of California culture are being built here in Nevada, including an NFL team from the Golden State.

In total, 127,000 people chose Nevada over their current home states, making the Silver State the fastest growing in the country.

Other states in the West, like Washington, Arizona, and Utah, as well as Texas, all gained citizens.

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