Las Vegas vs Phoenix: Cost of Living & Housing Comparison
On median home value, Las Vegas comes in at $365,300 — 7% higher than Phoenix, where the median is $340,200.
Typical households bring in $66,356 a year in Las Vegas, versus $72,092 in Phoenix.
Las Vegas's median rent sits at $1,356, against $1,322 in Phoenix.
FEMA rates both cities' overall hazard risk as "Very High."
| Metric | Las Vegas, NV | Phoenix, AZ |
|---|---|---|
| Population | 644,835 | 1,609,456 |
| Median home value | $365,300 | $340,200 |
| Median household income | $66,356 | $72,092 |
| Median gross rent | $1,356 | $1,322 |
| Climate risk (FEMA) | Very High | Very High |
Phoenix, AZ comes out ahead on housing affordability versus Las Vegas, NV, with both a lower median home value and lower rent. Housing only — not the full cost-of-living picture.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.