A growing number of wealthy California residents are turning their attention to the Las Vegas housing market, driven by high home prices and looming tax proposals in the Golden State. New market data shows that over 23 % of Realtor.com listing views for Las Vegas homes came from Los Angeles area buyers by the end of 2025 — a leading indicator of cross-state interest.
Experts say the shift reflects stark differences between the two markets. Median home prices in Los Angeles recently topped $1 million, and San Jose’s median exceeded $1.1 million, while Las Vegas homes showed a median listing price around $465,000. Nevada’s lack of state income tax further enhances the appeal for affluent buyers looking to protect their wealth and stretch their real estate dollars further.
Realtor.com analysts emphasize that tax considerations play a significant role in the migration trend. Nevada’s tax structure allows residents to keep more of their income compared with California’s high tax burden. For some buyers, selling luxury homes in California enables them to purchase larger or higher-end properties in Las Vegas while reducing ongoing expenses and tax liability.
The housing shift happens as California considers a proposed wealth tax that would impose a one-time 5 % levy on residents with net worth exceeding $1 billion. The measure, backed by the Service Employees International Union and United Healthcare Workers West, seeks enough signatures to reach the November ballot. California Governor Gavin Newsom has publicly opposed the proposal, warning that such taxes could accelerate high-earner departures.
As affluent individuals reassess where to live, the Las Vegas market continues to attract interest not only for cost savings and tax advantages but also for broader economic and lifestyle opportunities.
