Cost Of Living In Summerlin

Summerlin, a planned neighborhood situated in Las Vegas, is well known for its top-notch lifestyle, upscale facilities, and scenic environment. However, these perks come at a price compared to other regions within the Las Vegas Valley. To answer the question of whether or not it is expensive to live in Summerlin, today we will go over factors that contribute to the cost of living in Summerlin and assess if it’s perceived as pricey to reside there in 2024.

Cost of Housing

Housing is the most significant expense for residents of Summerlin. In 2024, the median home price in Summerlin hovers around $525,000, while it’s $419,215 across other Las Vegas areas. This price disparity is attributed to Summerlin’s location, luxurious communities, and extensive amenities.

Various Summerlin neighborhoods offer a wide-range of housing options:

• Mesa Ridge: Showcases homes priced between $500,000 and over $1 million.
• Redpoint Square: Provides family and attached homes ranging from $400,000 to $600,000.
• The Canyons: Features high-end condos and age-specific homes priced from $600,000 up to over $2 million.
• High-End: Guard gated communities such as Red Rock, The Summit, and The Ridges can reach into the tens of millions.

These elevated housing costs mirror the premium associated with residing in a community offering superior amenities and an elevated quality of life.

Living Expenses Comparison

The cost of living in Summerlin is higher than many other areas of Las Vegas (and the national average). The cost of living index in Summerlin stands at around 130.6, while it’s 111.6 for Las Vegas and 100 for the national average (so it is rather expensive). This index considers expenses like groceries, healthcare, and utilities. In particular, housing expenses in Summerlin are notably 82% higher than the national average, playing a significant role in the overall higher cost of living.

Summerlin Features Many Golf Course Communities

Community and Lifestyle

Many people choose to live in Summerlin despite the costs because of its quality of life. This neighborhood offers a range of benefits including more than 300 parks, 200 miles of trails, top notch schools, and various recreational facilities. Downtown Summerlin is a hotspot! It offers great entertainment, retail, and dining experiences. It also hosts events and festivals that add to its vibe. The Las Vegas Ballpark is where you can catch baseball games by the Las Vegas Aviators team. Plus you can enjoy community events all year round. City National Arena, the practice facility for the Vegas Golden Knights NHL team features two ice rinks and provides skating programs and hockey leagues for people of all ages. This contributes to the lifestyle that many Summerlin residents embrace.

In addition, Summerlin’s elevation ranges from 3,500 to 4,400 feet above sea level. This leads to lower temperatures compared to areas in Las Vegas. This ensures living conditions throughout the year. The extensive network of parks and trails encourages a lifestyle for enthusiasts and families who enjoy activities like hiking and biking in beautiful surroundings with Red Rock Canyon as a stunning backdrop. Red Rock Casino, Resort & Spa provides lodging, dining choices, a gaming area and a spa offering a top notch entertainment and leisure destination, for locals and tourists. The resort, combined with the community’s efforts to conserve areas and offer plenty of amenities showcases Summerlin’s dedication to enhancing residents quality of life making it an attractive residential choice despite the somewhat elevated living expenses. So is it expensive to live in Summerlin? Yes. Is it worth it? Totally.

Taxation and Essential Services

Nevada’s favorable tax environment attracts residents. Summerlin is known for its lack of income tax and low property taxes, which help offset the higher living costs. Utility expenses align with the national average, which helps balance out the increased housing prices.

In terms of transportation, Summerlin’s public transit system is not as extensive as in larger cities, so most residents rely on cars for travel. The community is well-connected by highways, making it easy to get around Las Vegas. However, owning and maintaining a vehicle should be considered when calculating living expenses.

Downtown Summerlin Is A Retail, Dining, & Entertainment Hotspot

Education

While there are many public schools in and around Summerlin, the private schools located in Summerlin significantly add to the cost of living, especially for those with children. Public schools include D’Vorre and Hal Ober Elementary, E.W. Staton Elementary, John and Judy Goolsby Elementary, John W. Bonner Elementary, Linda Givens Elementary, William R. Lummis Elementary, Shelley Berkley Elementary, Rosemary and Billy Vassiliadis Elementary, Richard H. Bryan Elementary, Ernest A. Becker, Sr. Middle School, Sig Rogich Middle School, Wilbur and Theresa Faiss Middle School, Palo Verde High School, and West Career and Technical Academy.

Private schools in Summerlin include The Adelson Educational Campus, The Alexander Dawson School, Bishop Gorman High School, Faith Lutheran Academy and Faith Lutheran Middle School & High School, The Meadows School, The Merryhill School, St. Elizabeth Ann Seton Catholic School, and The Shenker Academy. These prestigious institutions offer top-tier education with advanced facilities, contributing to the higher cost of living in the area. For those seeking exceptional educational opportunities, the investment in Summerlin’s private schooling options is a significant factor in the overall cost of residing in this upscale community.

Recreation and Community Engagement

Summerlin provides numerous opportunities for recreation and community engagement:

• Fox Hill Park: A popular outdoor area featuring a zipline, climbing tower, and fort.
• Golf Courses: Various options like Eagle Crest Golf Course, Highland Falls Golf, and TPC Las Vegas.
• Annual Festivities: Events like the Festival of Arts, Tour de Summerlin, and holiday events bring the community together, offering socializing and leisure opportunities.

Summerlin Features Hundreds Of Parks And Trails

Economic Considerations and Job Market Trends

The employment landscape in Las Vegas within the tourism and hospitality industries continues to do well. This helps drive Summerlin’s housing demand. The growth of jobs in these sectors attracts residents. And that enhances the appeal of the Summerlin despite the cost of living. Alongside these industries a number of companies have their headquarters in Summerlin contributing to the economy and job market. Notable among them is the Howard Hughes Corporation, which has played a role in shaping the Summerlin community well as CalPortland, a key player in producing construction materials like cement and concrete. Moreover firms such as Aristocrat Technologies and Regus have established footholds in Summerlin offering a range of job opportunities, across different sectors.

In Summary

Living expenses in Summerlin surpass those in other parts of Las Vegas due to elevated housing prices. So yes, it is on the expensive side to live in Summerlin. Nevertheless, these premium costs come with advantages, including superior amenities, top-tier schools, scenic parks, and a tight-knit community. For those seeking a higher quality of life and willing to invest more, Summerlin stands out as a premier choice in the Las Vegas area. Given these aspects, even though Summerlin comes with a higher price tag, its lifestyle is seen as an investment by numerous families and individuals seeking to experience the finest Las Vegas has to offer. Despite the premium expenses, the mix of residences, top-notch facilities, tax advantages, and a close-knit community makes Summerlin an attractive living choice.