What Is The Cost Of Living In Nebraska? (Taxes, Housing, & More)

If you love the great outdoors, then Nebraska might be the perfect state for you. The “Cornhusker State” features countless opportunities for recreation and adventure, including windsurfing, hiking, fishing, hunting, and more. It also has friendly people, breathtaking views, low unemployment, and it’s one of the most affordable places to live.

Nebraska features a cost of living roughly 11.5% below the national average, although taxes are high. The median household income in Nebraska is $168,900, while the average home value is $192,584. On a cost of living index ranking the US average as 100, Nebraska falls at 89.1. Housing costs are very affordable, and for many, the state is the perfect place to live or retire.

Nebraska also features multiple museums, an incredible zoo, and other fun attractions. Therefore, it’s not surprising that almost 2 million people call it home. However, before you decide to move, it’s a good idea to consider potential living costs to make an informed decision.

Over the past five years, Nebraska’s home appreciation rate stands at 26.85%, with an annual rate of 4.87%. The appreciation average over the last quarter is 6.56%, placing many cities in the top 30% nationally.

The majority of Nebraska’s homes fall between $121,000 and 242,000. However, about 9.4% of homes are below $60,500, with about 1% at one million-plus. Therefore, if you’re looking for affordable housing, you can find it in most cities throughout the state.

However, when deciding where to set down roots, it’s also essential to look beyond home prices. For example, the median income often adjusts up or down with home prices, but not always. Therefore, it’s essential to consider all of the elements when deciding on your future city.

The median income in Nebraska is $59,566 but will vary from city to city. This chart lays out the median home price and income for popular cities in Nebraska.

On the cost of living index, Nebraska comes below the national average of 100, scoring 94.9. Although, depending on where you live, you could pay significantly less or even more than this.

In general, your food budget should be 11% of your annual income, 6% for groceries, and 5% for dining out. Since Nebraska’s median income is $59,566, a typical food budget might be roughly $6,552 per year.

Here’s a look at what you could expect to pay for common food items in various Nebraska cities.

For colleges, tuition and fees average about $5,850 for in-state students. Out-of-state students pay an average of $10,277. However, the average private college tuition is $24,107. These numbers place Nebraska in the middle of the pack regarding tuition costs in the United States.

The highest tuition in the state is $39,630 at Creighton University in Omaha, Nebraska. Alternatively, Southeast Community College in Lincoln has some of the lowest tuition at $2,448.

Private school tuition typically falls below the national average, but childcare costs are high.

The private school with the highest tuition is The Roberts Academy (7th-12th) in Gretna, Nebraska, costing $11,000. On the opposite end of the spectrum is St. John the Apostle Catholic School in Lincoln. The school serves children in PK-8th grades and has a tuition of $1,200.

Daycare costs are incredibly high in Nebraska, costing a family making an average income roughly 20% of their pay. For infants, the average price for childcare is about $1,048 per month, while for four-year-olds, it’s about $952 monthly.

Suppose you are looking for something a bit cheaper than a university or are not ready to commit to a degree. In that case, Nebraska has some great community colleges. Depending on the city you live in will determine what kind of programs there are, how long you will need to attend, and the price per year.

It will also make a considerable difference depending on if you are an in-state or out-of-state student. The average price of a community college for an in-state student is $3,081, and if you are out-of-state, you can expect to pay $4,438.

Health insurance premiums can get pretty high in Nebraska, with costs scoring 132.3 on the cost of living index. The average price of health insurance for a 40-year-old in Nebraska is about $615 per month. However, if you’re young and healthy, you could opt for more basic coverage and pay less.

A 20-year-old could pay about $296/month for a catastrophic plan, while a 60-year-old would pay closer to $804. For a more top-of-the-line plan, a 20-year-old would pay about $605 and a 60-year-old roughly $1,642. The same plans would cost a 40-year-old $378 and $773, respectively.

Transportation costs in Nebraska are relatively low, scoring a 76.1 on the cost of living index, compared to the nationwide average of 100. Transportation costs are another important factor that you must consider in order to determine the overall cost of living in a particular location. These include expenses such as gas prices, public transportation costs, and annual car insurance premiums.

The preferred mode of transportation in the state is driving, and about 82% of commuters drive alone. Most households own two cars, and the average commute time is low at 17.9 minutes.

Given the rural nature of the state of Nebraska, most people own a car and visitors will rent a car to get around. There is virtually no public transportation to take you between towns. Though, in the larger cities like Lincoln and Omaha, there are taxis. In fact, Omaha and Lincoln are the only cities in Nebraska that have city bus systems.

That said, here are the public transportation costs you can expect in both Omaha and Lincoln:

Public Transportation Costs in Omaha, Compared

Related Questions

Is Nebraska safe?

Overall, Nebraska has a reasonably low crime rate that falls below the national average for both violent and property crimes. Your chances of becoming a victim of a violent crime are 1 in 332. The property crime rate is closer to the national average, with chances of becoming a victim about 1 in 49. There are approximately 5,821 violent crimes a year in Nebraska and about 39,449 property crimes.

How much money do you need to live comfortably in Nebraska?

If you are a single person, you will want to make $14.93 to live comfortably. If you have a family with three children, you will want to make $35.28 to keep everyone happy. Nebraska has a minimum wage of $9.00.

Is Nebraska expensive to live in?

With an overall cost of living that is about 11.5% lower than the national average, Nebraska can be considered a relatively affordable place to live. Although health insurance premiums and taxes are high in Nebraska, residents enjoy the largest savings in housing costs. In fact, Nebraska’s housing costs are nearly 27% lower than the nationwide average.

Is Nebraska a wealthy state?

Nebraska is a great place to live, and one more reason to attract you to the state is, it is the thirty-third wealthiest state in the United States. Nebraska has a per capita of $19,613 and a personal capita of $32,276.

Nebraska can be a phenomenal state to live in. Many of the cities are populated and rich with culture. Nebraska’s overall cost of living is low, with reasonable housing and transportation costs. However, things like health care, childcare, and property taxes can take a toll on your budget, depending on your situation.

The state offers ample opportunities for entertainment, outdoor recreation, and fantastic scenery. Plus, the people are warm and welcoming, and crime is low; there are certainly lots of perks. Therefore, just weigh all of your options before deciding if a move to Nebraska is right for you.