Majority of Respondents (88%) Identify Las Vegas as Overpriced for Tourists, According to Recent Survey

In the bustling city of Las Vegas, the cost of living has been on the rise, causing some concern for both residents and tourists.

The median home price in the city has seen a modest increase, with prices hovering around $485,000 as of mid-2025. This rise in housing costs, coupled with overall expenses, is creating affordability challenges for residents, as they grapple with rising inventory and slower home sales.

Despite these cost pressures, Las Vegas continues to see economic growth and population increases, with a relatively low unemployment rate (~5%) and wage growth (~4.1%). This economic resilience is helping maintain local discretionary spending.

However, a poll by Las Vegas Locally suggests that 88% of respondents believe the city is now too expensive for tourists. This sentiment seems to be reflected in the decreasing tourist levels, which have been down 11% compared to the same period in the previous year, as reported in June 2024.

It's important to note that while the high cost of living may indirectly influence tourist expenditure, there is no clear evidence of a substantial decline in tourist arrivals or overall tourism revenue due to cost of living factors alone. Las Vegas tourism is primarily impacted by other factors such as broader economic conditions, travel trends, and entertainment offerings.

The decreasing tourist levels could potentially harm businesses in Las Vegas that rely heavily on tourism. For instance, the high cost of parking, resort fees, and drinks, as well as reports of exorbitant prices for basic necessities like water and charging services, could deter visitors.

However, despite these financial struggles, people are still visiting Las Vegas. The city's appeal, rooted in its vibrant entertainment scene, continues to draw tourists. Yet, the trend of decreasing visitor numbers since the start of the year is a cause for concern.

The high cost of living in Las Vegas is a complex issue that affects residents more directly than short-term visitors, who come primarily for leisure and entertainment. As the city navigates this challenge, it remains to be seen how it will impact both the local community and the tourism industry in the long run.

[1] Median Home Prices in Las Vegas [2] Cost of Living in Las Vegas [3] Economic Conditions in Las Vegas [4] Housing Market Trends in Las Vegas [5] Las Vegas Population Growth

Despite increasing housing costs and overall expenses, the vibrant entertainment scene in Las Vegas continues to attract tourists, yet, a poll suggests that 88% of respondents believe the city is now too expensive for tourists.
In Las Vegas, casinos and gambling establishments, key elements of the city's entertainment offerings, may be affected by the decreasing tourist levels due to the high cost of living, as reported by the Las Vegas Locally poll.

Majority of Respondents (88%) Identify Las Vegas as Overpriced for Tourists, According to Recent Survey