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Wealthy Californians are increasingly turning their eyes to Las Vegas as they look to reduce their tax burden and protect their finances as a proposed wealth tax looms in the Golden State.
New data shows that by the end of 2025, more than 23% of Realtor.com’s listing views for Las Vegas homes came from Los Angeles, making it the top source of out-of-market interest.
San Jose accounted for more than 8% of the views, while Riverside, California, accounted for almost 4% to Makelaar.com.
MARK ZUCKERBERG BECOMES CALIFORNIA’S NEWEST BILLIONAIRE TO MOVE TO FLORIDA AGAINST TAX CONCERNS
Here you can see the skyline of the city of Los Angeles. (Simonkr/Getty Images)
That gap is substantial. Los Angeles’ average home price was $1 million in January, while San Jose’s average listing price was even higher at $1.1 million.
In contrast, Las Vegas’ average listing price was $465,000, according to Realtor.com.
Nevada’s lack of a state income tax also remains a big draw, Jones said.
“Taxes and overall cost of living are key drivers, and Nevada’s lack of income taxes remains one of the most cited reasons for this move,” Jones said.
“For some clients, it’s purely financial. They can sell a $2 million to $3 million home in California and buy a comparable or larger property in Las Vegas for less, while reducing their current tax burden.”
Homebuyers are gaining the upper hand in three major cities as inventory grows
The Bellagio Water Fountain Show will be viewed on May 29, 2025 from Caesars Palace Hotel & Casino in Las Vegas, Nevada. (George Rose/Getty Images)
The migration trend also comes at a time when California is experiencing a proposed wealth tax that would impose a one-time 5% tax on the net worth of residents with assets over $1 billion.
The measure, backed by the Service Employees International Union-United Healthcare Workers West, needs about 875,000 signatures to qualify for the November ballot.
California Governor Gavin Newsom has opposed the measure, warning it could push high earners to leave the state.
BILLIONAIRES FLEW CALIFORNIA ‘WITHIN SEVEN DAYS’ OVER PROPOSED NETWORK TAX: INSIDE MIAMI MIGRATION
California Governor Gavin Newsom speaks during a rally on November 8, 2025 in Houston, Texas. (Brandon Bell/Getty Images)
“Together, these financial incentives help maintain demand for interstate housing.”
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