This article takes a look at the 12 best places to retire in Las Vegas.
On Retiring to Las Vegas
According to a Bank of America Corporation (NYSE:BAC) study, baby boomers are the main home-buyers in the country. Born between 1946 and 1964, this generation is one of the wealthiest on the planet, with their net worth falling between $970,000 and $1.2 million, as per Fortune. Between July 2021 and July 2022, they made up a whopping 40% of all home-buyers in the US. Moreover, they have been reported to be moving towards the sunbelt ever since the pandemic, downsizing their homes and buying a place to spend their golden years.
The Bank of America Corporation (NYSE:BAC) study reveals five cities to be the most popular destinations for these baby boomers, one of which is Las Vegas. While Sin City maybe attracting the Baby Boomer generation to itself, one often wonders if Las Vegas is a good area to retire in. The influx of people in large numbers reveals that it is.
“Domestic migration continues to be a key theme shaping the housing market. While rising interest rates are dampening home-buying demand in the near term, the housing market in cities where Millennials and Baby Boomers are moving could see strength in the longer term as the former enter prime home-buying age and the latter downsize their houses”.
-Anna Zhou, economist for Bank of America Institute.
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Coming back to the baby boomer housing scenario, the above mentioned trends continue to shape the housing market and cost of living even today. As per Redfin Corporation (NASDAQ:RDFN), the median price of a home in Las Vegas is $440,000, up 7.3% since last year. Moreover, Zillow reports the median rent for all apartments in Las Vegas to be $1,638, whereas Best Places reveals the cost of living in the area to be an estimated 10% higher than the national average. Nevertheless, Las Vegas is one of the best places to retire in the US. As such, there are many pros and cons of retiring to Las Vegas.
One of the main advantages of retiring to the Sin City has got to be its world-class entertainment scene. From shows and concerts to a happening nightlife, seniors who love to enjoy their golden years love the Las Vegas area. The warm and dry climate is another plus of moving here, and so is its cost of living. While a bit higher than the national average, retiring to Las Vegas is cheaper than places such as New York. The Red Rock Canyon, Lake Mead, and Mount Charleston are some of the top nearby attractions for engaging in recreational opportunities. There are abundant 55+ communities for seniors to choose from, offering a wide range of amenities. Finally, the healthcare system is also a major plus. Some good hospitals in the Las Vegas area are Summerlin Hospital Medical Center, Mountain View Hospital, and Elite Medical Center.
However, just like any other place, there are some cons of retiring to the Las Vegas area. For instance, Las Vegas heavily relies on tourism and can come off as crowded, especially near the strip. Summers can be quite hot, and the gaming culture isn’t quite aligned with everyone’s lifestyle preferences.
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Methodology
To compile a list of the best places to retire in Las Vegas, we began by using multiple sources such as Luxury Travel Magazine, AZ Big Media, and others. We also incorporated retiree opinions by gathering information from forums such as Reddit and Quora. A consensus approach was used to score each place, with one point awarded to a place each time it was recommended by a source. Scores were summed up and places were ranked in an ascending order from the lowest to the highest scores.
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Here are the best places to retire in Las Vegas:
12. The Lakes
Insider Monkey Score: 4
An affluent community located within the city limits of Las Vegas, The Lakes is one of the first master-planned communities built in the area. Located east of Summerlin, The Lakes can be an ideal place for seniors to retire as it is located close to shopping and entertainment options. Seniors can choose to live in luxury lakefront homes, gated communities, condos, custom homes, or even commercial areas. As of May 2024, the median price of a home in the area is $522,500, trending down -68.8% year-over-year. Attractions such as the Canyon Gate, Downtown Summerlin, and the Red Rock National Conservation Area add to the appeal of retiring here.
11. Centennial Hills
Insider Monkey Score: 5
Another retiree favorite, Centennial Hills is a neighborhood located in Las Vegas, Nevada. Residents love the area for its spaciousness and the scenic views of the foothills that complement it. There are expansive parks within the neighborhood, and the homes within the area have plenty of space and privacy that cater to a wide range of budgets. This vibrant community offers its residents a high quality of life, a prosperous job market, good healthcare facilities, and a wide range of amenities and recreational opportunities. The median price of a home in Centennial Hills is $430,000, up 7.1% since last year.
10. Henderson
Insider Monkey Score: 7
Next on our list of best places to retire in Las Vegas is Henderson. While Henderson is not in Las Vegas itself, it is part of the larger Las Vegas metropolitan area that stretches along the entire length of the Las Vegas Valley. Henderson is often considered a suburb of Las Vegas and is a perfect fit for seniors owing to its friendly community, a thriving arts and culture scene, and its handful of 55+ communities. There is a wide range of shopping, dining, and entertainment options available as well. As per Redfin Corporation (NASDAQ:RDFN), the median price of a home in the area is $495,000, up 7.6% since last year.
9. Summerlin
Insider Monkey Score: 8
Summerlin, a premier urban and residential community, lies in the Las Vegas Valley of Southern Nevada. Its ideal location against the breathtaking Red Rock National Conservation Area offers not just breathtaking views, but plentiful recreation opportunities. However, the best thing about Summerlin is its luxury master-planned community design, founded by the famous movie legend Howard Hughes. This community flaunts its own downtown, a vibrant dining and entertainment scene, and a vast network of trails and parks. There are renowned restaurants in the area like T-Bones at Red Rock Casino and Wolfgang Puck Bar and Grill, and the famous Las Vegas strip is nearby for an exciting evening out.
8. Sun City Summerlin
Insider Monkey Score: 11
One of the best places to retire in Las Vegas has to be this premier active adult community called Sun City Summerlin, developed by Del Webb. This master-planned community located on the western edge of Las Vegas features perfect tree-lined streets, top restaurants, well-maintained parks, award-winning resorts, spas, and even casinos. However, the best thing about Sun City Summerlin has got to be the majestic views of the surrounding mountains and its proximity to the famous Las Vegas strip. As of May 2024, the median price of a home in Sun City Summerlin is $475,000.
7. Lake Las Vegas
Insider Monkey Score: 13
For those interested in living in a luxurious resort community, Lake Las Vegas is the perfect opportunity to do so. This master-planned community is located on privately-owned land surrounding a freshwater lake, with over 3,000 homes. Since luxury living comes at a price, the median price of a home in Lake Las Vegas is $613,000. This community is perfect for active retirees, offering much to do in its 320-acre lake such as boating, kayaking, and stand-up paddle boarding. There are miles of hiking and biking trails as well. The social scene here is just as vibrant, featuring numerous restaurants, cafes, boutique shops, and more.
6. Los Prados
Insider Monkey Score: 16
Another gated community in Las Vegas, Los Prados lies in the Northwest Las Vegas Valley and offers a secure and serene environment for its senior residents. The community is known for its well-maintained landscapes, great amenities, and welcoming clubhouse with multipurpose rooms for activities and events. There is an 18-hole golf course winding through the community, swimming pools and tennis courts, lush green spaces, and friendly neighbors to make retired living a good time. According to Realtor, the median price of a home in Los Prados is $409,900 as of April 2024, trending down -2.3% year-over-year. The Homeowner’s Association(HOA) fees are also known to be affordable as compared to other senior communities.
5. Siena
Insider Monkey Score: 18
Las Vegas is home to some of the finest residential communities for seniors, and Siena seems to be a prime example. Characterized by cascading waterfalls, lush gardens, and the serene 18-acre Lake Siena, Siena is the ideal oasis against the backdrop of a desert landscape. It is known to be a guard-gated age-restricted community in Summerlin, offering retirees the chance to live a safe yet enjoyable retirement. However, they do come at a price, since the median price of a home in Siena is around $670,000. Nevertheless, the amenities at Siena are top-notch, and residents get to keep themselves occupied with lots of activities that keep them fit and healthy. Siena’s expansive community features a clubhouse, fitness center, tennis courts, pools, bocce ball courts, and even an arts and crafts room.