Are you looking for affordable living options in the heartland of America? Look no further than Nebraska. With its lower cost of living compared to the national average, Nebraska offers a range of budget-friendly cities and towns to call home. Whether you’re a family, a young professional, or a retiree, Nebraska has something to offer everyone. In this ultimate guide, I will take you on a tour of the best and cheapest places to live in Nebraska, based on the Composite Cost of Living Index and other relevant data sources.
Key Takeaways:
- Nebraska has a lower cost of living compared to the national average.
- There are affordable living options for families, young professionals, and retirees.
- The Composite Cost of Living Index is used to determine the affordability of each city.
- Factors such as population, median household income, and rental prices are considered in the analysis.
- From small towns like Crete and Gering to larger cities like Omaha and Lincoln, Nebraska offers a variety of affordable places to live.
Crete – A Budget-Friendly Small Town
Located just 25 miles from Lincoln, Crete is a small town in Nebraska that offers affordable living and a high quality of life. With a cost of living at 78% of the U.S. average, Crete is an attractive option for those seeking an affordable place to call home.
One of the key factors that contribute to the affordability of Crete is its housing market. The median rent price in Crete is $1,200 per month, making it significantly lower than the national average. This allows residents to save money on their monthly housing expenses, leaving more room in their budget for other necessities or discretionary spending.
When considering housing affordability, it’s important to take into account the median household income as well. In Crete, the median household income is $51,520, providing a decent income to support the cost of living in the area. This combination of relatively low rental prices and a reasonable income level makes Crete an affordable place to live for individuals and families alike.
Let’s take a closer look at the housing affordability in Crete:
| Average Home Price | Home Price-to-Income Ratio | Average Property Tax |
|---|---|---|
| $220,000 | 4.3 | 1.54% |
The average home price in Crete is around $220,000, which is relatively affordable compared to other cities in Nebraska. The home price-to-income ratio, which measures the affordability of housing in relation to income, is 4.3. This indicates that the average home price in Crete is about 4.3 times the median household income, demonstrating a favorable housing affordability ratio.
Additionally, the average property tax in Crete is 1.54%, which is relatively low compared to other areas. This can help homeowners save money on their annual property tax payments, further contributing to the overall affordability of living in Crete.
Bellevue – A Suburban Gem
Bellevue is a thriving suburban city located in the Omaha-Council Bluffs metro area. With a cost of living at 95% of the U.S. average, Bellevue offers a good balance between affordability and convenience.
The median rent price in Bellevue is $1,517 per month, and the median household income is $76,534. This makes Bellevue an attractive option for individuals and families looking for affordable living.
The housing affordability in Bellevue is moderate, with a home price-to-income ratio of 3.5.
The average property tax in Bellevue is 2.18%.
| Housing | Bellevue | U.S. Average |
|---|---|---|
| Median Rent Price | $1,517 per month | $1,500 per month |
| Median Household Income | $76,534 | $63,179 |
| Home Price-to-Income Ratio | 3.5 | 3.6 |
| Average Property Tax | 2.18% | 1.07% |
Omaha – Big City Affordability
When it comes to finding an affordable place to live in Nebraska, look no further than Omaha. As the most populous city in the state, Omaha offers a surprisingly affordable cost of living that appeals to a wide range of residents.
With a cost of living at 93% of the U.S. average, Omaha provides a compelling option for those seeking affordable living. The city offers a variety of rental options at affordable prices, with the median rent price in Omaha being $1,395 per month. This allows individuals and families to find housing that fits their budget without sacrificing quality of life.
Omaha also boasts a median household income of $65,359, providing residents with the financial stability to comfortably afford their living expenses. This combination of affordable housing and a decent income makes Omaha an attractive destination for those looking to stretch their dollar.
In terms of housing affordability, Omaha’s home price-to-income ratio stands at 4.94, slightly higher compared to other Nebraska cities. This indicates that while housing prices may be slightly higher in Omaha, they are still within reach for many residents, striking a balance between affordability and quality.
“Omaha offers a surprisingly affordable cost of living, providing a range of affordable rental options and a median household income that supports a comfortable lifestyle.”
It’s also important to note that while housing prices may be higher, Omaha residents benefit from the city’s diverse job market and ample opportunities, contributing to their financial well-being.
The average property tax in Omaha is 2.16%, a factor that potential residents should consider when budgeting for their living expenses.
In summary, Omaha’s big city affordability sets it apart as an attractive option for those looking to relocate to Nebraska. With its affordable cost of living, affordable rental options, and a decent median household income, Omaha offers a balance between affordability and quality of life that is hard to find in many other cities.
Kearney – A Great Place to Call Home
Kearney consistently ranks as one of the best places to live in Nebraska. With a cost of living at 88% of the U.S. average, Kearney offers a high quality of life at an affordable price.
The median rent price in Kearney is $1,999 per month, and the median household income is $62,695, making it an ideal location for individuals and families seeking affordable living options. The favorable housing affordability in Kearney is reflected in a home price-to-income ratio of 4.5, providing residents with accessible housing options.
What makes Kearney even more appealing is its below-average property tax rate, which stands at 1.53%. This allows residents to enjoy the benefits of homeownership without excessive financial burdens.
Whether you’re looking for a safe community, excellent schools, or cultural activities, Kearney has it all. The city offers a wide range of amenities and recreational opportunities, making it an ideal place to raise a family or enjoy retirement.
“I moved to Kearney in search of an affordable place to live, and I couldn’t be happier with my decision. The cost of living is reasonable, and the community is welcoming and friendly. It truly feels like home!”
– Resident of Kearney
The Charm of Kearney
- Abundant outdoor recreational activities, including parks, trails, and lakes
- A vibrant downtown area with local shops, restaurants, and entertainment venues
- Excellent educational institutions, including the University of Nebraska at Kearney
- Access to quality healthcare facilities and services
- A strong sense of community and a variety of cultural events and festivals
| Cost of Living | Kearney | U.S. Average |
|---|---|---|
| Median Rent Price | $1,999 | – |
| Median Household Income | $62,695 | – |
| Home Price-to-Income Ratio | 4.5 | – |
| Average Property Tax | 1.53% | – |
Experience the affordable living and welcoming community of Kearney. Whether you’re starting a new chapter in your life or looking for a place to settle down, Kearney offers the perfect balance of affordability and quality of life.
Lexington – Affordable Living Near Kearney
If you’re looking for affordable living in Nebraska, Lexington is an excellent choice. Located near Kearney, this charming town offers a cost of living that is only 78% of the U.S. average, making it an ideal place to call home.
With its low living expenses, Lexington allows residents to stretch their dollars further and enjoy a high quality of life. The median rent price in Lexington is $1,340 per month, providing affordable housing options for families, young professionals, and retirees.
The median household income in Lexington is $56,729, ensuring that residents have sufficient financial stability to meet their needs. This median income level, combined with the affordable cost of living, makes Lexington an attractive destination for those seeking to establish roots or start a new chapter in their lives.
Housing Affordability in Lexington
Lexington boasts favorable housing affordability, with rental prices below the national median and a home price-to-income ratio of 3.2. This means that housing in Lexington is more accessible and manageable for residents compared to many other places in the country.
Additionally, the average property tax rate in Lexington is 1.63%. This moderate tax rate allows residents to keep more of their hard-earned money, contributing to overall affordability and financial stability.
This table provides a detailed breakdown of housing affordability in Lexington. It highlights key factors such as median rent prices, home price-to-income ratio, and the average property tax rate.
“Affordable living is within reach in Lexington, where your hard-earned money goes further and housing options are accessible.”
Whether you’re looking to settle down, raise a family, or enjoy a peaceful retirement, Lexington offers an affordable cost of living that can accommodate a variety of lifestyles and budgets. With its attractive housing affordability and low living expenses, Lexington is an excellent place to call home.
Seward – Family-Friendly and Affordable
Seward, part of the Lincoln metro area, is a charming and family-friendly city that offers an affordable cost of living. With a cost of living at 89% of the U.S. average, Seward is an excellent choice for those seeking affordable housing options. The city provides a welcoming community and a high quality of life.
The median rent price in Seward is $873 per month, making it one of the most affordable places to live in Nebraska. The median household income is $68,348, ensuring that families can comfortably afford their expenses while enjoying all that Seward has to offer.
When it comes to housing affordability, Seward excels. With low rent prices and a home price-to-income ratio of 3.9, residents can find affordable housing options that meet their needs. The average property tax in Seward is 1.46%, adding to the overall affordability of living in the city.
| Cost of Living | Median Rent Price | Median Household Income | Housing Affordability | Average Property Tax |
|---|---|---|---|---|
| 89% of U.S. average | $873 per month | $68,348 | Home price-to-income ratio of 3.9 | 1.46% |
Whether you’re a young family searching for an affordable place to settle down or a professional looking for a city with a friendly community, Seward offers an ideal living environment at an affordable price. Take advantage of the city’s affordability and explore all the opportunities and attractions it has to offer.
Papillion – Suburban Charm and Affordability
Papillion, a suburb of Omaha, is a hidden gem known for its suburban charm and affordability. With a cost of living at 95% of the U.S. average, Papillion offers a high quality of life at an affordable price. The city has a wide range of amenities, including parks, shopping centers, and excellent schools, making it an ideal place to raise a family or settle down.
One of the key factors that contribute to Papillion’s affordability is its median rent price of $1,795 per month, which is reasonable compared to neighboring cities. This allows residents to enjoy the benefits of suburban living without breaking the bank. Moreover, the median household income in Papillion is $95,293, providing a comfortable financial cushion that allows for a good standard of living.
The housing affordability in Papillion is moderate, with a home price-to-income ratio of 3.9. This means that purchasing a home in Papillion is within reach for many residents, making it an attractive option for those looking to invest in real estate or establish a long-term residence. Additionally, the average property tax in Papillion is 2.18%, which is in line with the state average.
“Papillion offers the perfect blend of suburban charm and affordability. I love the tight-knit community and the accessibility to amenities and services. It truly is a wonderful place to call home.”
Whether you’re looking for a tight-knit community, excellent schools, or a peaceful and safe suburban environment, Papillion has it all. Its affordable cost of living, combined with its charming neighborhoods and proximity to Omaha, make it an ideal choice for individuals and families alike.
Key Points:
- Cost of living in Papillion is 95% of the U.S. average.
- Median rent price in Papillion is $1,795 per month.
- Median household income in Papillion is $95,293.
- Housing affordability in Papillion is moderate, with a home price-to-income ratio of 3.9.
- Average property tax in Papillion is 2.18%.
Gering – Small-Town Living at an Affordable Price
Gering, a charming small town nestled in western Nebraska, offers a wonderful combination of affordability and community spirit. With a cost of living at 82% of the U.S. average, Gering provides a low cost of living making it an excellent choice for individuals and families.
One of the standout advantages of living in Gering is the affordable housing options. The median rent price in Gering is just $650 per month, making it an ideal destination for those seeking affordable living. In addition, the median household income in Gering is $64,631, allowing residents to comfortably afford their housing expenses.
Housing affordability in Gering is exceptional, with rental prices significantly below the national average. The home price-to-income ratio in Gering is 2.8, indicating that owning a home in Gering is within reach for many residents. Furthermore, the average property tax in Gering is 1.53%, adding to the affordability factor.
| Statistic | Gering | U.S. Average |
|---|---|---|
| Cost of Living | 82% | 100% |
| Median Rent Price | $650/month | N/A |
| Median Household Income | $64,631 | N/A |
| Home Price-to-Income Ratio | 2.8 | N/A |
| Average Property Tax | 1.53% | N/A |
Gering invites you to experience the benefits of small-town living at an affordable price. Enjoy a close-knit community, low living expenses, and a high quality of life. Whether you’re starting a family, looking for a place to retire, or seeking a tight community, Gering has much to offer.
A Resident’s Perspective:
“Living in Gering has been a dream come true for me. Not only is the cost of living incredibly affordable, but the sense of community here is unmatched. I feel safe, connected, and truly part of something special. Gering offers a quality of life that is hard to find elsewhere, making it an ideal place to call home.”
Conclusion
The state of Nebraska offers a variety of affordable places to live, with a cost of living below the national average. Whether you prefer the charm of small towns like Crete and Gering or the bustling energy of larger cities like Omaha and Lincoln, Nebraska has something for everyone.
The unique advantages of each city, such as proximity to major metropolitan areas, low housing costs, and a strong sense of community, make Nebraska an ideal place to call home. Families can find affordable housing options and excellent schools, while young professionals and retirees can enjoy a high quality of life at a reasonable cost.
When choosing the best and cheapest place to live in Nebraska, consider factors like median household income, housing affordability, and overall cost of living. Take advantage of the diverse options available in Nebraska and discover the perfect place to settle down and create a fulfilling life.
FAQ
What is the cost of living in Nebraska compared to the national average?
What is the average cost of living in Nebraska?
What are the best and cheapest places to live in Nebraska?
What is the median household income in Nebraska?
What is the housing affordability like in Nebraska?
What are the average rent prices in Nebraska?
FAQ
What is the cost of living in Nebraska compared to the national average?
Nebraska offers an affordable cost of living compared to the national average. The cost of living index in Nebraska is below 100, with most cities ranging from 78% to 95% of the U.S. average.
What is the average cost of living in Nebraska?
The average cost of living in Nebraska varies depending on the city. However, on average, Nebraska’s cost of living is lower than the national average.
What are the best and cheapest places to live in Nebraska?
Some of the best and cheapest places to live in Nebraska include Crete, Bellevue, Omaha, Kearney, Lexington, Seward, Papillion, and Gering. These cities offer a high quality of life at an affordable price.
What is the median household income in Nebraska?
The median household income in Nebraska varies by city, with some cities having higher median incomes than others. However, overall, Nebraska’s median household income is competitive and allows for a comfortable lifestyle.
What is the housing affordability like in Nebraska?
Housing affordability in Nebraska varies by city, but overall, it is favorable. The home price-to-income ratio in most cities is reasonable, and rental prices are often below the national median.
What are the average rent prices in Nebraska?
Rent prices in Nebraska vary depending on the city. However, on average, you can expect to pay around
FAQ
What is the cost of living in Nebraska compared to the national average?
Nebraska offers an affordable cost of living compared to the national average. The cost of living index in Nebraska is below 100, with most cities ranging from 78% to 95% of the U.S. average.
What is the average cost of living in Nebraska?
The average cost of living in Nebraska varies depending on the city. However, on average, Nebraska’s cost of living is lower than the national average.
What are the best and cheapest places to live in Nebraska?
Some of the best and cheapest places to live in Nebraska include Crete, Bellevue, Omaha, Kearney, Lexington, Seward, Papillion, and Gering. These cities offer a high quality of life at an affordable price.
What is the median household income in Nebraska?
The median household income in Nebraska varies by city, with some cities having higher median incomes than others. However, overall, Nebraska’s median household income is competitive and allows for a comfortable lifestyle.
What is the housing affordability like in Nebraska?
Housing affordability in Nebraska varies by city, but overall, it is favorable. The home price-to-income ratio in most cities is reasonable, and rental prices are often below the national median.
What are the average rent prices in Nebraska?
Rent prices in Nebraska vary depending on the city. However, on average, you can expect to pay around $1,200 to $2,000 per month for rent in most cities.
What is the average property tax in Nebraska?
The average property tax in Nebraska also varies by city. However, it typically ranges from 1.46% to 2.18% of the property’s assessed value.
What factors should I consider when choosing where to live in Nebraska?
When choosing where to live in Nebraska, consider factors such as median household income, housing affordability, cost of living, and quality of life. It’s important to find a balance between affordability and the amenities and opportunities available in each city.
,200 to ,000 per month for rent in most cities.
What is the average property tax in Nebraska?
The average property tax in Nebraska also varies by city. However, it typically ranges from 1.46% to 2.18% of the property’s assessed value.
What factors should I consider when choosing where to live in Nebraska?
When choosing where to live in Nebraska, consider factors such as median household income, housing affordability, cost of living, and quality of life. It’s important to find a balance between affordability and the amenities and opportunities available in each city.
What is the average property tax in Nebraska?
What factors should I consider when choosing where to live in Nebraska?
Source Links
- https://www.homesnacks.com/most-affordable-places-in-nebraska/
- https://www.sofi.com/best-affordable-places-to-live-in-nebraska/
- https://www.newhomesource.com/learn/affordable-cities-nebraska/
Money posts:
Retiring in Nebraska: Complete Guide (2024)
Cost of Living Arkansas: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Montana: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Idaho: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Alaska: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Michigan: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Massachusetts: Best Cheapest Places | Ultimate Guide 2024
Cost of Living Iowa: Best Cheapest Places | Ultimate Guide 2024
