Henderson is a booming city located in Southern Nevada, 16 miles outside of Las Vegas. With a population of over 300,000, it is the second-largest city in Nevada. The area is known for warm weather year-round, abundant amenities, and a lower cost of living than Las Vegas.
But what exactly is the cost of living in Handerson? Here the real estate professionals at the Jarnagin Group will explore housing, food, transit, and average salary to determine the real cost of living in Henderson, NV.
HOME PURCHASE PRICE
Housing will be your biggest expense almost anywhere you live, and the median home price in Henderson as of May 2023 is $465,115. While Nevada currently has the 12th most expensive median home price in the U.S., it ranks as one of the lowest on the West Coast (lower than California, Oregon, Washington, Idaho, Arizona, Utah, New Mexico, and Colorado).
However, housing prices vary in Henderson. A wide range of housing options are available, from affordable apartments to luxurious homes. While housing in Henderson may have a higher price tag than the national average, it offers a range of options to suit various budgets.
The Jarnagin Group are experts on neighborhoods in Henderson, including Lake Las Vegas and Green Valley Ranch. The Lake Las Vegas neighborhood is situated around a 320-acre reservoir that offers resort-style living with a mix of Tuscan-inspired villas and elegant, contemporary homes. It’s home to a marina with shops and restaurants, and the community enjoys an active lifestyle with its extensive trail system, fitness center, and a variety of watersports.
Green Valley Ranch is a highly sought-after master-planned community in Henderson with an array of single-family homes, townhomes, condominiums, and apartments. There are plans for a 310-acre resort and 775 acres for residential communities. The area has two rail stops, and residents can enjoy a quiet suburban lifestyle.
UTILITIES COST
For prospective movers, your monthly utility costs will heavily depend on your lifestyle, home size, number of people in the house, and overall usage. On average, Henderson’s utility costs are $189 per month. This is about 3% higher than the national average. It breaks down to about $.17 per kilowatt-hour.
Nevada also offers rebates and incentives to install solar panels on your home. Through these programs, you can receive credit for 75% of the retail rate for their excess solar energy, and because of Henderson’s year-round sunshine, it can be a lucrative area for solar panels.
FOOD COST
Food costs can also vary depending on your lifestyle, which can be misleading to the real cost of living in Henderson. According to Payscale, Henderson’s groceries are 3% higher than the national average. This is based on everyday groceries like milk, eggs, bread, etc.
Moreover, Numbeo does a thorough breakdown of the food costs in Henderson. You’ll be looking at around $41 for a mid-range restaurant meal for two, $6 for a pint of domestic beer, and $4.20 for a cappuccino. Overall, the food cost in Henderson is reasonable compared to the rest of the U.S.
TRANSIT COST
The main form of transportation in Henderson is by car. The residential and suburban areas offer walkable districts, but most of the infrastructure is car based. The average price for a gallon of gas in Nevada is $4.20, compared to the national average of $3.50, but there are gas stations in Henderson with gas as low as $3.67 per gallon.
If you don’t have a car, Henderson and the Las Vegas area have extensive bus routes from the Strip through most residential areas. The prices are reduced for residents, and you can choose from single rides, day passes, and monthly passes. The cost of a 30-day pass comes out to $65 for residents. There are also senior and student discounts to make it more affordable.
Las Vegas also boasts one of the biggest airports in the country. The Harry Reid Airport is centrally located between Las Vegas and Henderson, with daily flights nationwide. You can regularly find cheap flights to Los Angeles, San Francisco, Reno, and more.
AVERAGE SALARY
With proximity to the hub of Las Vegas and a growing economy, Henderson offers a diverse job market for seasoned professionals and young workers. Healthcare, technology, and education are some of the most popular industries in Henderson. Nevada also has zero state income tax, making your salary go further.
Healthcare professionals, such as doctors, nurses, and technicians, can expect higher salaries due to the demand for quality healthcare services in the region. Similarly, positions in the education sector, such as teachers and administrators, often offer competitive pay. The technology sector also provides well-paying opportunities, especially in areas like software development and IT services.
Using the Bureau of Labor Statistics data for the Las Vegas-Henderson-Paradise Metropolitan Area, the annual mean wage for the area is $54,410. However, the 2020 census has Henderson’s median household income at $75,430. Some of the most lucrative salaries are chief executives, personal financial advisors, nurse practitioners, and physicians.
READY TO FIND YOUR NEXT HOME?
Finding the real cost of living in Henderson, Nevada, will vary from person to person. In general, Henderson presents an appealing option for individuals and families seeking a lower cost of living than other West Coast cities, such as Las Vegas, Los Angeles, and San Francisco. While housing prices in Henderson can be higher than the national average, a range of affordable options are available, catering to various budgets.
Henderson remains an attractive choice for individuals and families seeking a balance between affordability and quality of life. If you’re ready to start looking at homes for sale in Henderson, contact The Jarnagin Group today to get started. They have a team of highly-experienced agents ready to answer your questions.
