Cost of living in Paradise research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Paradise is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Nevada, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Paradise is 99, with 100 being the average.
The cost of living index in Paradise is 1.0x lower than the national average.
Paradise ranks as the #8 cheapest in Nevada out of 33.
Paradise ranks as the #3,027 cheapest out of 6,412 in the US.
The median home value in Paradise is $282,600.
The median income in Paradise is $50,085.
According to the most recent data on the cost of living, Paradise has an overall cost of living index of 99, which is 1.0x lower than the national index of 100.
Compared to Nevada, Paradise has a cost of living index that's 1.0x lower than Nevada's index of 101.
The standard of living in Paradise ranks as #8 most affordable out of the 33 places we measured in Nevada. By definition, that implies Paradise ranks as the #25 most expensive place in the Silver State.
For more reading on life in Paradise, check out:
Six factors go into calculating the cost of living index in Paradise. Here is how it fairs on each of the criteria:
The Services index in Paradise is 104.
The Groceries index in Paradise is 104.
The Health index in Paradise is 93.
The Housing index in Paradise is 92.
The Transportation index in Paradise is 110.
The Utilities index in Paradise is 100.
|Living Expense||Paradise||Nevada||National Average|
Housing swings affordability the most between places in Nevada, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Paradise is $282,600.
The Median Rent in Paradise is $1,073.
The Median Income in Paradise is $50,085.
The Home Value To Income in Paradise is 5.6x.
The Rent To Monthly Income in Paradise is 0.26x.
|Median Home Value||$282,600||$315,900||$244,900|
|Home Value To Income||5.6x||4.8x||3.5x|
|Rent To Monthly Income||0.26x||0.23x||0.2x|
The cost of living varies in the cities and towns around Paradise. Here's a quick look at the cost of living in the most populous nearby places:
Las Vegas, NV has a cost of living index of 104, 1.1x Paradise.
Henderson, NV has a cost of living index of 111, 1.1x Paradise.
North Las Vegas, NV has a cost of living index of 102, 1.0x Paradise.
|City||Population||Cost Of Living||Vs. Paradise|
|Las Vegas, NV||634,786||104||1.1x|
|North Las Vegas, NV||259,638||102||1.0x|
|Spring Valley, NV||217,441||104||1.1x|
|Sunrise Manor, NV||196,411||92||0.9x|
|Summerlin South, NV||28,861||127||1.3x|