If you live on the West Coast - California, Oregon, or Washington, chances are you might have considered a move. With inflation, rising interest rates, and skyrocketing house costs, you might be among the many considering a move. So where is everybody moving?
Northern Nevada is top on the list.
There are many reasons why Northern Nevada is so appealing - from gorgeous desert oases and an abundance of outdoor adventures to being a tax-friendly state with an affordable housing market. It's no surprise that so many people are moving to this incredible area. In addition, Reno was ranked #1 among U.S. cities with the highest rate of home price reductions! If you're feeling outpriced in your current west coast market, here are a few more reasons why you should consider Nevada as your new home state.
Nevada is one of the few states that does not have a state income tax. It also doesn't have an inheritance or estate tax. The lack of a state income tax can make a big difference when buying a new house. So whether you're a doctor, teacher, or entertainer, you do not have to pay any state taxes on your earnings in Nevada! In contrast, California and Oregon have a graduated income tax system. This means that specific tax brackets pay higher tax rates as their income increases. And Washington has a flat income tax rate.
Lower Cost of Living
When it comes to your day-to-day cost of living - gas, groceries, dining, utilities, etc. - lower expenses can drastically change your lifestyle! As we all continue to feel the effects of inflation, Nevada's lower cost of living compared to its west coast neighbors is undoubtedly appealing. Although Nevada is 10.5% above the national average, it's still significantly cheaper than California, which is 41% higher than the national average. Oregon and Washington are 31.43% and 22% higher than the national average.
Bigger House for Lower Prices
The median home price in Nevada is around $358,000, which is about 23% higher than the national average of $291,700. But when compared to other west coast median home prices - California ($684,800), Washington ($560,400), and Oregon ($474,500) - you're definitely getting more bang for your buck! This means that when buying a home in Nevada, you're more likely to afford a bigger house, more land, and the upgraded amenities you've been dreaming of.
If you have a growing family (or are considering it), Nevada is a great place to raise kids. One of the things that makes it so appealing is that schools in the major cities - like Reno - have smaller class sizes. Reno is also growing quickly, which means beautiful new schools for your kids! Proximity to a great education is one of our priorities for our communities in Northern Nevada. For example our Golden Mesa community near Reno, NV is situated in a highly desirable school district, as well as across the street from North Valleys High School. Our Valley Knolls community near Carson City, NV is also ideally located near highly rated schools such as Jacks Valley Elementary School.
Compared to its west coast counterparts, Nevada is full of wide open spaces. Not only is it significantly less populated at 3.14 million people, but Northern Nevada is home to scenic views and an abundance of outdoor recreation. Less people also means less traffic to enjoy those spaces. And when it comes to homes, more space means more room to store all your toys - RVs, ATVs, etc. - including many homes with equestrian property.
Abundance of Recreational Activities
While we're on the topic of being able to store all your toys, there's also an abundance of incredible recreational activities for outdoor enthusiasts. Nevada has everything from hiking and biking to skiing on Mt. Rose and all sorts of fall fun!
Ready to Move to Northern Nevada?
Your new home is within reach! Our Concierge Team is available seven days a week and can answer any questions to help kick-start your home-buying journey. Call us at 775-379-8100 or email Concierge@JCommunities.com to get started!
There couldn't be a better time to make your move. We're offering a special YEAR-END SAVINGS EVENT! We're crushing prices, and we've teamed up with Guild Mortgage to create a Rate Shield program to help you create a payment that fits your lifestyle.