Being able to afford housing in Las Vegas has reached a breaking point.
Samuel Green is one of many Southern Nevadans who says they’re overwhelmed by the high cost of living. I met him in a grocery store parking lot as he was heading back to his apartment.
“I am in a 1 bedroom apartment and I pay nearly $1,600 a month,” Green said. “It is very difficult. I mean, day by day, it is stressful.”
According to a recent Zillow report, the average household now needs to make almost $70,000 annually to afford rent.
“You got to do about two jobs just to live,” Green told me.
The report also reveals rental rates have surged by 1.9% year-over-year, now averaging $1,745 per month.
Green said since he moved here four years ago, the sharp increase has left him struggling to make ends meet.
“Since you got here to now, how much has rent gone up for you?”
“Well, at least about $800 but the pay is still the same!”
Green’s story is all too common in our city. The U.S. Census Bureau estimates the median annual income for a household in Las Vegas is at $66,356, as of 2022.