By james art 
Housing costs are usually one of the biggest expenses in anyone’s monthly budget, no matter what stage of life you are in. In fact, according to the Bureau of Labor Statistics, housing will eat up about 33% of the average person’s monthly budget in 2023. By the time you reach retirement age, some retirees find themselves employed again, whether they’ve paid off their homes and decided to sell them for cash, or are facing facing financial difficulties.
Find out: America’s 50 Most Expensive Cities for Retirees
Read the following: 5 Subtly Genius Moves All Rich People Do With Their Money
If you’re renting, thus not building equity, you’ll want to find the most affordable cities in which to rent. The northwestern state of Nevada might just be a great choice for you, with four major cities to choose from with affordable rent.
To determine the lowest rent for retirees in these (and other) cities, GOBankingRates analyzed the average rent costs in major US cities and the cost of living in those cities. Pulling data from the U.S. Census, Sperling’s BestPlaces, ApartmentList and Zillow, among others, these four Nevada cities turned out to be great places for retirees to rent.
Trending now:
Las Vegas
Las Vegas is more than just a place to gamble and hit The Strip — it’s a wonderful place to retire with a warm climate, no state taxes, plenty of retirement-friendly amenities, and affordable rents. In fact, 15.3% of its population of 644,835 is aged 65 and over. Here, rent is around $1,100 each month for a one-bedroom apartment, while total monthly expenses average $3,564 per month. A two-bedroom apartment costs an average of $1,334. Las Vegas also has a high livability score of 82.
Explore more: You won’t believe how far a $1 million nest egg goes in these countries
Henderson
The city of Henderson has similar benefits to Las Vegas, without the tourist attractions. According to RetireBetterNow.com, the city is full of parks, golf courses, gyms, recreation areas and other amenities that support a healthy retirement lifestyle. It attracts even more retirees than Vegas, with 20% of its 318,063 population aged 65 and over. Here, you’ll pay about $1,373 a month for a one-bedroom apartment and $1,625 for a two-bedroom, making it even cheaper for roommates. Life score is still decent here too – 74.
Renault
Another city with a gambling reputation that can unnecessarily put people off, Reno is even more affordable than Las Vegas and very welcoming to retirees. Here, you’ll pay about $1,036 per month for a one-bedroom apartment and $1,296 per month for a two-bedroom apartment. The cost of living is generally cheaper than Vegas, too, at just $3,200 a month. With 15.8% of the population aged 65 and over, you’ll find a like-minded community here.
North Las Vegas
Despite its name, North Las Vegas isn’t just the northern part of Las Vegas—it’s a city unto itself, the fourth largest in Nevada in fact and one of the fastest growing. It has a rich history and is a wonderful place to retire on a budget. Your wallet will love living here, too, as it’s only $1,047 a month to rent a one-bedroom apartment and $1,275 to rent a two-bedroom apartment. The average monthly cost of living here is about $3,654. With a livability rating of 76, retirees can make a truly comfortable life here.
Methodology: First, GOBankingRates found the 100 most populous cities according to the US Census American Community Survey. A number of factors were found for each city including; total population, total number of households, population age 65 and older, median household income, all obtained from the US Census American Community Survey, cost of living indices obtained from Sperling’s BestPlaces, average total rental price , 1-bedroom rental price and 2-bedroom rental costs, all sourced from ApartmentList, the median price of an apartment or condo sourced from the Zillow Home Value Index, and the livability index sourced from AreaVibes. Using cost-of-living indexes and using national average expenditures for all residents obtained from the Bureau of Labor Statistics’ Survey of Consumer Expenditures. Using the average condo/co-op value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate, the average mortgage can be calculated. Using the total cost of rent and expenses, the total cost of living for each city can be calculated. The cities were sorted to show the places with the largest population first, showing average apartment costs in major US cities. All data collected and current as of September 13, 2024.
This article originally appeared on GOBankingRates.com: What it Costs Retirees to Rent in These 4 Nevada Cities