NEW STUDY: Rising Cost of Living Is Putting More Nevadans Under Pressure to Take on Debt

NEVADA - As the cost of housing, food, energy, and other everyday necessities continues to rise, more Americans are relying on credit to cover expenses and manage household budgets. This is especially troubling after the Federal Reserve recently raised its base rate, which in turn raises credit card and mortgage rates and further drives up costs for Nevadans.

U.S. credit card balances reached $1.263 trillion in the second quarter of 2026, up $54 billion from last year. Nevada's credit card debt has increased 112.8% over the last decade, the highest in the country. At the same time, prices across the West, including Nevada, were 3.2 percent higher in August than a year earlier, with energy prices up 15.5 percent.

Housing remains one of the biggest challenges for Nevada families. According to the National Low Income Housing Coalition, a full-time minimum-wage worker in Nevada cannot afford a typical market-rate apartment alone without spending well over 30 percent of their income on rent. As the cost of necessities takes up more of household income, families have less room to handle unexpected expenses without turning to credit cards or other forms of debt.

Shelbie Swartz, Executive Director of the Institute for a Progressive Nevada, issued the following statement: 

Working Nevadans should not have to choose between paying the rent, buying groceries, and keeping the lights on. As the cost of necessities rises and people increasingly turn to credit to cover everyday expenses, we have to ask what is happening to families already stretched thin. A strong economy should mean people can afford to live in the communities where they work, not that they have to go further into debt just to get by.”

ABOUT NEVADA COST OF DOING BUSINESS MEMO: This memo seeks to inform media and the public about the costs businesses are incurring and how those costs impact Nevadans.

SPOKESPEOPLE ARE AVAILABLE FOR COMMENT IN ENGLISH AND SPANISH

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