With its endless outdoor recreation, popular attractions, and unbeatable prices, it’s no secret why Northern Nevada is a retirement hotspot. Northern Nevada boasts serene views at Lake Tahoe, wide-open spaces, and the excitement of “The Biggest Little City in The World,” Reno. It’s home to world-class entertainment, five-star dining, and spacious accommodations. When comparing life in Nevada to California, one of the most obvious differences is the cost of living. For new retirees looking to get the most out of their pensions and retirement income, Nevada’s home prices coming in at nearly half the price of their California counterparts is extremely enticing. In addition to the affordable housing market, Nevada also boasts some pretty laid-back tax policies. Join us as we explore the highlights of spending your Golden Years in the Silver State.
Cost of Living in Nevada vs. California
When finding the perfect place to spend your retirement years, the cost of living is arguably one of the most crucial factors. This year, it was reported that the cost of living in California is 58.7% higher than the cost of living in Nevada. We’re not just talking about the price of homes either; in comparing prices on everyday expenses like groceries and dining, gas, and utilities in Nevada are about 10% lower on average. Lower home prices mean retiring Californians are getting more bang for their buck, and making their dreams of owning a beautiful new home a reality.
Meet the Crayton’s
Santa Barbara natives; Ruth, and Stephen Crayton were visiting friends from their hometown at their new Jenuane home and fell in love with the area. They immediately decided to follow suit and purchase a Jenuane home of their own. They love the community, the open floor plan, and the price tag. This spacious home provides plenty of room for guests and family, and Stephen says, “We have a beautiful view of Mt. Rose, it’s perfect for entertaining, it’s just perfect.”
Laid Back Taxes
When it comes to lower cost of living, taxes are no exception. Nevada famously does not have a state income tax, nor does it have an inheritance or estate tax. Most importantly, Nevada is especially tax-friendly toward retirees. Nevada does not tax retirees’ accounts, pensions, or social security. This includes any income from a pension, 401(k), IRA, or any other retirement account. It’s also important to note that Nevada’s sales tax is significantly less than California’s. There are also significant tax exemptions created just for seniors, including prescriptions and medical equipment, as well as groceries and newspapers.
Endless Entertainment and Outdoor Recreation
Local hotspots like the Grand Sierra Resort and Silver Legacy boast a full calendar of nightly shows, concerts, and various live entertainment. Experience world-class dining with restaurants like Gordon Ramsay’s Hell’s Kitchen in Tahoe and full farm to fork experiences at the Rattlesnake Club in Reno. Enjoy breathtaking views and crystal clear waters at Lake Tahoe. In the spring and summer months, locals enjoy serene nature walks, exploring the many hiking and cycling trails, and a variety of water sports. In the cooler months, the area becomes a true winter wonderland with picturesque views and all the amenities for outdoor enthusiasts, including skiing, sledding, snowshoeing, and sleigh rides.
Race fans flock to the Fernley 95A Speedway, nicknamed the “holy grail” of off-road motorsports; the speedway hosts some of the state’s most prestigious national and local racing events.
Best Places to Retire in Northern, NV
It does not get more breathtaking than Lake Tahoe. Carson City homes offer residents miles of year-round views, with easy access to trail systems, golf courses, and plenty of open spaces for off-road adventures; all just 10 minutes from Downtown.
Experience luxury lock and leave living at its finest in Jenuane’s newest community. These luxury condominiums are ideally located in South Carson City near endless outdoor recreation.
New Home Source recently rated Fernley as #1 on their list of best places to retire in Nevada, and with its rich history and rural charm, it’s easy to understand why. Just 30 minutes from the Reno-Sparks metro area, this rapidly growing city offers more than 80 acres of parkland and miles of paved trails. Fernley is filled with great amenities, renowned state recreational areas, and convenient routes to Tahoe and Carson City.
Fall in love with Fernley at Jenuane’s Flat’s at Ponderosa Community.
Ready to Spend Your Golden Years in The Silver State?
Northern NV has a world of amenities, entertainment, and eyecatching landscapes to offer our California retirees in their retirement years. Explore the possibilities of a luxurious new home today. Don’t want to wait? – Check out our current list of quick delivery homes now!