Why To Retire In Nevada
Nevada combines great year-round weather with a tax-friendly environment for retirees, offering residents warm, sunny days and no income tax. In addition to the great taxes, the state offers a nearly perpetual summer, as well as endless entertainment options, courtesy of Las Vegas, Lake Tahoe, and beautiful national parks.
Retire In Nevada: Things To Know
With no state income tax, Nevada is a great location for retirement. All pension, 401(k), and IRA incomes are spared from any taxation, making Nevada one of the best states for retirees.
- Current Income Tax Rates: 0%
- Median Property Tax Rates: 0.53%
- Estate or Inheritance Tax Rates: 0%
While residents of Nevada’s larger cities are guaranteed quick and easy access to quality healthcare and medical providers, the much more rural areas of the state can struggle with access. If looking to retire in the state, retiring in a bigger city will help ensure quality care.
- Medical Facilities Per 1,000 Residents: 2.1
- Health Insurance Networks: Silver Summit, Health Plan of Nevada, Anthem Blue Cross Blue Shield (HMO Colorado/HMO Nevada), Friday Health Plans, and SelectHealth
Cost Of Living
With the benefit of lenient taxes comes the downside of a higher cost of living in Nevada. While housing is fairly affordable, day-to-day expenses tend to be slightly higher than the national average.
- Average Home Price: $301,753
- Average Cost of Living Index: 108.1
Nevada is a summer lover’s dream retirement state. With long, hot summers and cool, mild winters, the state is dominated by lots of sunshine and very little rain. The state’s hottest month, July, reaches an average high of 104 degrees Fahrenheit, followed by colder winter months in the low 40s. While the northern part of the state has mountainous winter snow, the majority of the state experiences nothing more than a few days of rain throughout the whole year.