Perhaps the biggest question most seniors have when they retire is how much will everything cost? It’s important to know how much to budget for your retirement, and while Henderson might have a higher cost of living than some other cities, they do have advantages. Nevada has no state income tax, and some senior veterans might qualify for a property tax exemption. Henderson is also one of the best places to live in Nevada, and it is still less expensive than cities like New York or San Francisco.
Here is a breakdown of a few of the larger expenses in Henderson, Nevada.
You have a few options for housing in the Henderson area. If you don’t want to maintain your house any longer, you can move to a senior living community. Many of these communities have assisted living options and the average cost per year is $34,200. This price often includes things like rent, utilities, meal plans, and amenities like housekeeping.
The median cost of homes in Henderson is right around $252,000, but home prices are on the rise in this area. If you work with a good realtor, they should be able to find you a house that best fits your needs. Luckily, Henderson is one of the best places to live in Nevada and the Las Vegas area. Forbes listed it as one of the top 25 suburbs for retirements and real estate sites like Movoto and Niche both named Henderson as a great spot for retirees in Nevada.
You can also choose to rent in Henderson. The average rental rate is $1040 with one-bedroom apartments costing an average of $845 per month and two-bedrooms at $1082.
Health care costs are another concern for many seniors. Medicare usage in Clark County is a little bit higher than national and state averages. Medicare estimates spending per recipient in this area is around $10,456, while the national average is at $9,501 and the state average is $9,597.
Even if you use Medicare, it’s a good idea to budget for copays and out-of-pocket costs when it comes to health care. Medicare does cover many services and providers, but if you choose to use a provider that does not use fee-for-service rates, you have to pay the difference between the Medicare coverage and the allowed charges.
If you still have your car and you want to drive, then you need to consider the cost of gas and insurance. While gas costs might be decreasing, insurance costs are rising. Las Vegas is one of the most expensive cities in Nevada for car insurance, and Henderson is right behind them. You could pay between $1,500 and $2,744 for your car insurance. Make sure you shop around for the best rates and ask about programs like safe driver discounts and possibly paying per mile if you don’t drive that often.
You can also rely on public transportation to get around. The Regional Transportation Commission of Southern Nevada offers seniors 60 and older a reduced fare price if they have a valid photo ID.
You don’t always have to spend money to have an enjoyable time in Henderson. There are plenty of places to visit that are free of charge, including some great outdoor adventures. You can stroll River Mountain Loop Trail, visit the Clark County Museum, or find your favorite birds at the Henderson Bird Viewing Preserve all for no money at all.
Find assisted living in Henderson near you.