Cost of Living in Alma, NE

With a cost of living index of 71, Alma, NE is one of the most affordable cities in the country. Living here is 29% cheaper than the national average and in line with the Nebraska state average. Alma is a small community of 1,176 residents.

Housing costs are the biggest factor in Alma's cost of living. The median monthly rent is $875 (34% below the US median of $1,319), and the median home value sits at $158,200 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Alma is $68,333, which is 9% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Alma. The area sees an average annual temperature of 53.9°F, with summers averaging 77°F and winters around 32°F. Annual rainfall totals 21.5 inches spread over roughly 78 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.