Vegas is what comes to mind when you think of Nevada, and you are not alone. The state has a lot more to offer, including top attractions like Hoover Dam, Red Rock Canyon, and Lake Tahoe. No matter what season it is, outdoor adventurers in Nevada can enjoy a wide variety of activities. Many of the state's towns are stocked with shops, restaurants, and entertainment venues.
A variety of factors influence the decision of where to live. The affordability of a home is often a critical factor for those on a limited budget. Renting or buying a house within their budget and living in an area with a low cost of living is essential to them. If you are looking to live in Nevada and find somewhere affordable, one of the most critical factors for you, here are the 5 most affordable places to live in Nevada, according to HomeSnacks.
Top 5: Wells
The town of Wells, located in northeastern Nevada, is home to just 1,254 people. In this town, the median home price is only $132,900, making it one of the most affordable towns in the state. In addition, it is the second cheapest place to rent, as the average monthly rent is $757.
Unemployment rates in Wells are 3.3%. Recent months have seen an increase in employment. There has been a 0.4% increase in jobs at Wells. Wells is a great place to buy right now. In the past 12 months, home appreciation has increased by 12.9%. There are 174,200 homes for sale in Wells.
Top 4: Lovelock
Lovelock, 90 miles from Reno and home to fewer than 2,000 residents, is Nevada's fourth cheapest place to live. According to the home price to income ratio, Lovelock is the second most affordable city in Nevada. Rental prices are a little high, but it is still well below the average.
Lovelock has a 3.5% unemployment rate. Jobs are growing at a damaging pace. The number of jobs in Lovelock has decreased by 0.5%. Lovelock has a median home cost of $113,400. Over the past decade, home values have appreciated by 12.5%.
The median home price in Lovelock is $158,900.Compared to the rest of the country, Lovelock's cost of living is 21.6% lower than the U.S. average.
Lover's Lock Plaza is famous for its tradition of locking locks to a chain; thus, the city got its name.
Top 3:West Wendover
Located in Elko County, northeast Nevada, West Wendover is near the Utah border and has 4,285 people. A variety of employment opportunities and a diverse community are also positive aspects of West Wendover.
The unemployment rate in West Wendover is 3.3%. There has been an increase in jobs recently. The number of jobs in West Wendover increased by 0.4%. Within the last 12 months, house values have appreciated by 20.3%. In West Wendover, there are 267,200 houses on the market. Even though the average property price of $158,700 is among Nevada's cheapest, West Wendover has the most affordable rental home, which is why it ranks third.
Top 2: Carlin
The town of Carlin is in Nevada, and it is the second cheapest place to live there. It would be ranked first based on price alone since it has one of the most affordable home prices at $139,400. As a result, it drops to second place due to the high rental prices, even though the median household income is high at $78,929. As an added benefit to Carlin, many outdoor activities are available to residents, including camping, biking, hiking, and fishing.
Nevada's cheapest place to live is in Ely. This town in east-central Nevada has a population of 4,035 people. Though it is far from the big cities, residents can still enjoy a casino, a Renaissance village, a historic state park, and a railroad museum. Aside from having low property and rental prices, this town also has a high median household income and a low cost of living overall. Additionally, this town has good transportation links and many job opportunities in various sectors.
Have you ever been to Nevada, or will you be there soon? Please let us know what you think. If you have any comments, please do so.
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