Cost of Living in Enterprise, NV

An Overview of Cost of Living in Enterprise, NV

Are you thinking about relocating, but curious about the potential cost of living in Enterprise? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Enterprise stands at 117, making it 17% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs are a very significant part of the Enterprise cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 69.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Enterprise, these goods and services are 16.2% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.

Is Enterprise Affordable?

Is Enterprise affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Enterprise, for instance, where the median home price falls 76.3% higher than the national average, and monthly rent rates are 52.5% higher than usual. Additionally, median income levels contribute to the equation, with Enterprise flaunting a median household income of $80,133, 44.8% higher than the national norm.

What Factors can Influence the Cost of Living in Enterprise?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Enterprise, the transportation index is 10.7% higher than the national average.

Where is the Data From?

The cost of living in Enterprise, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.