With the continuous and stabilizing economic growth Nevada is experiencing right now, it remains as one the most popular destinations for relocating Americans. This is according to United Van Lines (a well-renowned moving and relocation company in the US).
According to United, Nevada ranked third in its annual study of inbound and outbound moves. About 55% of the business in the major cities of Northern Nevada – Washoe, Elko and Carson City – comes from inbound moves. The 55% mark is their basis for a “high inbound” location.
From 2000 to 2007, 6,125 people a year moved into the Reno-Sparks area, accounting for 68% of total population growth, that is according to the most recent Census.
With total jobs of approximately 189,400 from the fourth quarter of 2010 through the third quarter of 2012, this just shows that Reno’s economy is definitely stabilizing. The professional and business services and the leisure and hospitality sectors have added jobs since the recovery began. Job losses that are primarily in the government and construction sectors offset this growth.
Existing home sales in Reno have improved and new home sales are beginning to strengthen. Sales of bank-owned properties and short sales remain high at 43% of existing home sales – nearly double the national rate of 23%. Despite weak rent growth, the rental housing market is doing well with vacancy rates falling since 2009. The Administration’s Neighborhood Stabilization Program (NSP) and Hardest Hit Fund programs, as well as the provisions of the mortgage servicing settlement, are helping to stabilize the Reno housing market.
Here are some important and useful information, if you’re considering relocating to Nevada:
Nevada is just one of the handful states which levies no personal or corporate income tax. It bases its strong economy on cattle farming, mining, manufacturing and tourism – Nevada is much known for its world-famous gambling resorts located in Las Vegas, Reno and Lake Tahoe.
Compared to the rest of the country, Nevada’s overall cost of living is 5% lower than the U.S. average. (Sperling’s Best Places)
Property taxes are comparatively modest. Nevada is one of the 37 states that collect property taxes at both the state and local levels. As in most states, local governments collect far more. (Nevada Tax Climate)
Major industries include banking, distribution and healthcare, with a concentration of high tech firms in the Reno area. An example of this is Microsoft Licensing, Apple, and Amazon.com.
Nevada’s weather is mainly dry during the summer, with 90 to 100o F temperatures throughout the day, nights are generally milder and more comfortable. In the Northern area, temperatures are lower year round, snow occurs regularly during winter, but heavy snows are limited mostly to mountain areas.