las vegas apartments / housing for rent "low income apartments" - craigslist (2024)

FAQs

What is the cheapest place to live in Las Vegas? ›

Household income must be 60% or less of area median income to be eligible for assistance. All families receiving assistance under the Trust Fund must be income eligible at the time of application and throughout the period they receive Trust Fund assistance. Income re-certifications shall occur at least annually.

The Southern Nevada Regional Housing Authority (SNRHA) is a public agency that provides subsidized housing to low-and-moderate income individuals and families. The Authority administers distinct housing programs. The Housing Authority can only accept applications for waitlists that we have advertised as open.

Figuring out how to find an apartment in Las Vegas is straight-froward, but you'll need to dig into your research to find a cheap apartment. Apartment List makes it easy to search for places based on your budget, desired amenities, neighborhoods, and more. But first, you need to set a budget for your first apartment.

According to a recent study by SmartAsset, a single adult in Las Vegas needs to make more than $94,000 a year to have a comfortable lifestyle. That's an hourly wage of $45.40. For families, consisting of two working adults and two children, the combined income needed to live comfortably soars to $239,366 annually.

According to LivingCost.org, the Las Vegas average cost of living is $2,255 for one person. The cost of living Las Vegas calculations include the following: Housing – Apartment rent or home mortgage. Utilities – Electricity, water, trash, sewage, phone.

In a report released in 2021, the Center on Budget and Policy Priorities estimated Nevadans wait, on average, 38 months, more than three years, to receive housing vouchers. The housing authority currently allocates 12,598 vouchers for low income residents in Southern Nevada.

Fair Market Rents and Section 8 Landlords

In most cases, the local housing authority, funded by HUD, will pay about 70% of a tenant's rent, while the tenant will pay the other 30%. Fair Market Rents generally determine the maximum rent that a Section 8 landlord will be allowed to charge its residents.

Is it hard to find housing in Las Vegas? ›

LAS VEGAS (KTNV) — Becoming a homeowner in Southern Nevada remains a daunting challenge. A new report by Las Vegas Realtors shows the Las Vegas housing market prices continuing to increase with the average price for a single family home now at $469,000 and $290,000 for townhomes and condos.

Las Vegas ranked 51st, with the required hourly wage for a single person to live “comfortably” coming in at $45.40. An annual salary of $94,432 would be required for the same comfort of living, and for two working adults with two children, a salary of $239,366 would be required for the aforementioned comfort level.

Of all the cheapest neighborhoods in Las Vegas, Twin Lakes is the most affordable. The cost of living in Twin Lakes is less than the Las Vegas average and the U.S. average. Residents in the area say the neighborhood makes it easy to run errands on foot — like going to convenience stores or the post office.

For most people, the waiting period isn't that long. A rental application gets approved or rejected within three business days of submission. However, there are ways to not only shorten this waiting time but to tip the scales in your favor.

Compared to the national average, housing expenses in Las Vegas are about 6% higher, but they're still quite affordable considering the city's robust real estate market and growing population.

The nicest neighborhood in Las Vegas might be subjective, but in many cases, people seem to view Summerlin, Green Valley Ranch, Green Valley South, and Lake Las Vegas as some of the nicest places to call home in Las Vegas.