F
36%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
132%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Summerlin South Nevada National
Cost of living136100100
Goods & Services8492100
Groceries105103100
Health care8992100
Housing232104100
Transportation111117100
Utilities10799100

An Overview of Cost of Living in Summerlin South, NV

Are you thinking about relocating, but curious about the potential cost of living in Summerlin South? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Summerlin South stands at 136, making it 36% 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.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Summerlin South is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Summerlin South falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Summerlin South, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 131.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, 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 Summerlin South, 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 Summerlin South Affordable?

Is Summerlin South affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Summerlin South, the median home price is 143.1% higher than the national average and monthly rent prices are 105.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Summerlin South boasting a median household income of $99,424, 79.7% higher than the national average.

What Factors can Influence the Cost of Living in Summerlin South?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Summerlin South, the groceries index is 4.9% higher than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The cost of living in Summerlin South, 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.

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Cost Of Living Quick Facts

  • The cost of living in Summerlin South is 36% higher than the Nevada average
  • The cost of living in Summerlin South is 36% higher than the national average
  • Summerlin South housing is 132% higher than the national average
  • Nevada general sales tax is 34% higher than the national average
  • Nevada state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Summerlin South

See all the best places to live around Summerlin South

Compare Summerlin South, NV Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$103,500$8,625$2,415$3,105
      Renters$84,282$7,024$1,966$2,529
      The affordability of the housing market in Summerlin South, NV as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Summerlin South homeowners, the median income is $103,500. This indicates that a monthly maximum of $2,415 should be spent by homeowners on all housing related costs. Renters have a median income of $84,282. This indicates that renters would have a maximum of $1,966 for their rent related monthly costs.

      Nevada Sales Tax

      State General Sales Tax With Max Surtax
      Nevada 6.85% 8.25%

      Nevada Income Tax

      State Income Tax (Low) Income Tax (High)
      Nevada 0% 0%

      Goods & Services

      Item Summerlin South National avg. Difference
      Haircut $16.39$24.2632.4%
      Beauty Salon $42.92$45.565.8%
      Toothpaste $3.90$3.705.2%
      Shampoo $1.36$1.286.2%
      Movie $12.42$12.132.3%
      Bowling $16.78$18.006.8%

      Groceries

      Item Summerlin South National avg. Difference
      Ground Beef $6.52$5.8411.6%
      Fried Chicken $1.37$1.5712.9%
      Milk $4.80$4.672.7%
      Potatoes $4.62$4.936.3%
      Pizza $11.99$12.090.8%
      Beer $10.14$10.412.6%

      Health Care

      Item Summerlin South National avg. Difference
      Optometrist $97.78$125.6822.2%
      Doctor $111.53$135.7817.9%
      Dentist $98.86$113.2912.7%
      Ibuprofen $11.25$10.655.6%
      Lipitor $462.84$468.601.2%

      Housing

      Item Summerlin South National avg. Difference
      Home Price $449,000.00$184,700.00143.1%
      Avg. Mortgage Payment $2,433.85$2,346.693.7%
      Apartment Rent $1,949.00$949.00105.4%

      Transportation

      Item Summerlin South National avg. Difference
      Gasoline $3.99$3.4615.3%
      Tire Balancing $59.58$59.920.6%

      Utilities

      Item Summerlin South National avg. Difference
      All Electricity $219.03$193.9912.9%
      Phone $185.31$192.253.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Winchester, NV36,302955.1%
      Sunrise Manor, NV198,187982.2%
      Paradise, NV193,1501065.9%
      North Las Vegas, NV247,2481088.0%
      Las Vegas, NV644,5941099.3%
      Summerlin South, NV28,71613636.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Forest Hills, MI28,69011717.3%
      Wellesley, MA28,747242141.9%
      Vero Beach South, FL28,6761033.1%
      East Haven, CT28,64511312.8%
      Shirley, NY28,64012726.9%
      Summerlin South, NV28,71613636.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.