Area in east Las Vegas among most affordable places to live in Nevada, study finds
LAS VEGAS (KSNV) — A recent study from SmartAsset has found the top ten most affordable places to live in Nevada.
Creating an affordable index to find the most affordable places to buy a home, the company looked at closing costs, real estate taxes, homeowner’s insurance and mortgage rates.
Taking the total cost over a five-year period for every county and every city with a population greater than 5,000, the company then looked at that cost proportioned to the median household income in each area to find our affordability.
Perhaps unsurprisingly, many of the most affordable areas in Nevada are in some of the more sparsely populated areas.
Most affordable is Spring Creek, Nevada, located southeast of Elko which is also in the top ten at number seven.
However, at number five most-affordable area is none other than Whitney, Nevada, centered around Tropicana Avenue and Boulder Highway.
In this area, the study found that the median income is just over $50,000 while the total housing costs are about $10,500, giving it an affordable index of 42.11.
With features like the Clark County Wetlands Park and the Horseman and Dog Fancier’s Park, this area could be a nice place for those looking to buy a house on budget.
Another area in the valley boasting some affordable housing is North Las Vegas. It’s listed at number ten with a median income of $55,434 and an average housing cost of around $12,600, giving it an affordable index of 35.11.
Other areas of note are Moapa Valley, northeast of Las Vegas, which came in at number three, and number two on the list Sun Valley, located just north of Reno.
Courtesy of News 3 LV