Apartment buildings and single-family home construction booming again in the suburbs of Las Vegas. This aerial view is from the western suburbs of Summerlin.

The cost of living in Las Vegas is just 3% higher than the national average which may account for a portion of the construction activity currently taking place. The current population of about 2.5 million allows for all the benefits of a big city without the outrageous costs. Nevada also offers the benefit of having no state income tax which is a big plus at almost any income bracket.

As I spent most of my life in Toledo, Ohio I still get sticker shock when looking at the price of housing in Las Vegas. The median price for a single-family home in Southern Nevada last month was $345,000. Perhaps more than double the price of the same home in the mid-west? Hmmm, maybe shoveling snow would be great exercise in retirement?

This price range may sound like a good deal if you are currently living in a big city but keep in mind that the average annual income in Las Vegas is about $48,000. Also, consider that a good portion of the economy consists of service workers with part-time hours where the wages are much lower. Anecdotally, I see that about half of my friends are working some combination of 2 jobs.

As of March 2021, casinos are also starting to hire again. But these jobs and wages are certainly not what they were 2 years ago. As a new hire for a table games dealer, you would get an irregular or "On-call" schedule of 24 hours a week or less with no benefits.

Perhaps a glimpse into the new two-tiered economy in today's America?