There are many factors that people consider when deciding on a location to call home. For those with a limited budget, affordability is often one of the key criteria. They want to rent or buy a home that is within their budget and to live in an area that generally has a low cost of living. If you want to live in Nevada and finding somewhere cheap is one of the most important factors for you, here are the 10 cheapest places to live in Nevada.
With a median house price of $221,200, Fernley had the potential to rank higher on the list. However, the cost of renting is higher than any other location listed, which is why it is in the tenth position. Fernley is only half an hour from Reno, and there are many casinos in the area and plenty of outdoor spaces to enjoy.
The cost of buying a property in Mesquite is the 12th cheapest in Nevada, as the average property price is $236,700. However, it is the seventh cheapest place to rent in the state, the overall cost of living is low, and the median household income is high at $55,542, so it ranks in the ninth position as one of the cheapest places to live in Nevada. Although Mesquite is a relatively small city with a population of 18,446, it offers residents a busy lifestyle, as it is known for its nightlife and gaming venues. It is also a fantastic place for golf enthusiasts to live as there are several golf courses in the area.
Yerington has a population of 3,137 people, and it is approximately an hour and a half from Reno. If it wasn’t for the rental prices, which are only the 18th cheapest in the state, then Yerington would rank far higher up the list, as the median house price is the second-cheapest in the state at $122,800. Yerington also offers its residents a good standard of living, as there is plenty for them to enjoy during their leisure time. Niche says that it is a safe place to live as the crime rates are low, and there is community diversity.
Elko is the largest city in the top ten cheapest places to live in Nevada as it has a population of 20,304 people. It is one of the best places in the state to raise a family, as the schools are excellent and there are plenty of family-oriented activities to enjoy. Some of the best attractions in the area include the Northeastern Nevada Museum and the Humboldt National Forest. Properties are the sixth most affordable to buy in the state, and the overall cost of living is low.
At first glance, Winnemucca may not seem like a cheap place to live compared to other locations on this list, as the median home price is $218,600. However, the high median household income of $66,857 makes it affordable in terms of the home price-to-income ratio. It is also worth noting that the cost of renting in this town in Nevada is significantly lower than the state average. An interesting fact about this town, which has a population of 7,762, is that it is home to the largest sand dunes in Nevada.
Wells is a small town that is home to just 1.022 people, and it is in northeastern Nevada close to the 12 Mile Hot Springs. The median home price in this town is only $132,900, so it is one of the most affordable places to live in the state. It is also the second-cheapest place to rent, as the average cost of rental is a mere $757 per month.
The fourth-cheapest place to live in Nevada is Lovelock, which is 90 miles from Reno and is home to less than 2,000 residents. Lovelock is the second-most affordable location in Nevada, relating to the home price to income ratio in terms of buying property. However, it is only the 17th cheapest for renting. The town has a tradition of securing locks to a chain at Lover’s Lock Plaza, and this is how the town got its name.
3. West Wendover
Although the average property price of $158,700 is only the sixth cheapest in Nevada, West Wendover is the cheapest place to rent a property, which is why it ranks in the third position. West Wendover is located in northeastern Nevada in Elko County next to the Utah border, and it has a population of 4,285 people. Other positive features of West Wendover are the diverse community and the decent employment opportunities in the area.
Carlin is a small town in Nevada, and it is the second-cheapest place to live in the state. If only property prices were taken into consideration, it would sit in the first position, as it has the cheapest properties with an average price of $139,400. However, it drops into second place because the rental prices are quite high, although the median household income is also high at $78,929. The residents of Carlin can also enjoy a good lifestyle, as the outdoor spaces provide ample opportunities for activities such as camping, biking, hiking, and fishing.
According to Home Snacks, the cheapest place to live in Nevada is Ely. It is a town in east-central Nevada that is home to 4,035 people. Although it is far from the big cities, there is plenty for the residents to enjoy in the area, including a gambling hall, a renaissance village, a historic state park, and a railway museum. Not only are the property and rental prices low, but the median household income is above average, and there is a low overall cost of living in this town. Other points to note are that this town has good transportation links and there are many job opportunities in various sectors.