Nevada’s ratings in this year’s “How We Stack Up” show a mixed bag of ups and downs. On the one hand, the state remains challenged in education and healthcare; on the other, businesses continue to choose the Silver State in which to locate. A mass exodus continues to move people from California to Nevada, which contributes to higher home prices in the state. In addition, Nevada’s lifestyle remains appealing to singles and families. The introduction of professional sports teams has boosted the economy and significantly helped diversify the state. Businesses continue flocking to Nevada in part because of the friendly tax environment, which aids in diversifying the state’s economy and ultimately strengthens the Silver State.
Healthcare
Nevada’s healthcare scorecard ranks in the bottom five of the nation. And with the influx of Californian’s moving to Nevada, access to physicians is now at critical levels. As of this year, there are approximately 104.42 primary care physicians per 100,000 people in Nevada which is significantly lower than other states with similar populations. In addition, the healthcare system provides services for the millions of visitors that are in the state any given month. Affordability also continues to rank low, directly impacting adult and child wellness visits. The hope is Intermountain Health’s $1 billion Children’s Hospital will elevate access and quality for the state’s youngest citizens. However, the facility is five years away from opening. It should be noted that, while Nevada’s healthcare is lacking in numerous indicators, progress is being made. The state ranks 47th in access among the states, compared to number 50 last year.
Education
Nevada’s education grades continue to place near the bottom of the nation with below average reading and math comprehension scores and poorly rated teachers and schools. The severe teacher shortage experienced over the past few years has somewhat abated, with fewer unfilled positions this year. In addition, the passage of AB398 at the last legislative session allocates $38 million for additional teacher compensation. However, even with these improvements, Nevada still ranks near the bottom (47th) for teacher benefits.
Housing
Housing costs relative to household income has Nevada ranked amongst the nation’s worst for excessively cost burdened homeowners and renters. And despite Nevada’s rent costs being in the bottom half of the country, nearly 50 percent of renters in the Silver State are struggling to make ends meet. Rising home prices are a barrier for home ownership with the housing market experiencing a nearly 2 percent annual increase in prices on top of home values that already far exceed the national average. However, residents owning homes continues to be the state trend and, although more mortgages defaulted in 2024 than previous years, those numbers still fall below the national average.
Tax Burden
Nevada ranks 27 for overall tax burden at 8.62 percent. And while no state income tax continues to factor into overall tax appeal, Nevada’s higher sales and excise taxes are only slightly lower than Hawaii’s.
Crime
Nevada still has work to do to lower its crime rates. Although 2024 saw a decrease in property, domestic, elderly and violent crimes, it also saw a sharp increase in the number of hate crimes and use of force cases reported. However, the studies do not take into consideration Nevada’s transient community or the shadow population of thousands of visitors to the state. Regardless of mitigating factors, the Silver State maintains a failing grade when compared to states with comparable populations.
Cost of Doing Business
The cost of doing business continues to increase. But Nevada is showing progress among the states. In 2024 Nevada was ranked 38 out of the states for business affordability and has since moved up to 36, earning the state an overall C- grade. While no state income taxes continue to be a major appeal for business owners, other taxes, fees and costs impact Nevada’s cost of doing business.
Travel & Tourism
Gambling continues to remain synonymous with the Silver State, bringing in more than double in gaming revenue than any other state. Last year’s tourism numbers were significantly boosted by the Super Bowl and the F1 race. Visitor numbers have trended down this year compared to 2024. The national and international stage is likely a contributing factor with immigration policies, tariffs and market uncertainty. However, rising room rates, parking and resort fees and transportation costs have made the state a less desirable destination. That, coupled with the proliferation of gaming properties closer to home, has caused concern for the state’s gaming and resort industry.
Cost of Living
The cost of living in Nevada is still below the national average for rent, utilities and food. However, monthly household inflation costs project Nevada will likely surpass the national average in years to come. Home prices and monthly mortgage payments are already in the top 15 of the nation, with the average monthly mortgage payment at almost $2,500. Driving in Nevada is also becoming increasingly expensive, averaging approximately $6,230 which is ranked in the top four in the nation. While Nevada has historically had a reputation of being affordable, the Silver State is quickly starting to mirror its sister state of California with cost-of-living expenses.
Lifestyle
Arts and culture, outdoor activities and recreational opportunities abound in Nevada. More recently, the state has become the sports capital of the world with professional and semi-professional teams offering a wide variety of sporting events for tourists and locals alike. A number of lifestyle indicators put the state slightly below the national average. Nevada’s median household income, employment rate and residents 65 years and older are all just below the national average. However, Nevada tends to have a more diverse population with more than average numbers of foreign born citizens and households speaking non-English in their homes.
