Cost of Living in Cambridge, NE

With a cost of living index of 63, Cambridge, NE is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 10% below the Nebraska state average of 72. Cambridge is a small community of 1,036 residents.

Housing costs are the biggest factor in Cambridge's cost of living. The median monthly rent is $731 (45% below the US median of $1,319), and the median home value sits at $104,800 (66% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Cambridge is $60,066, which is 20% 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 Cambridge. The area sees an average annual temperature of 52.2°F, with summers averaging 75°F and winters around 30°F. Annual rainfall totals 20.1 inches spread over roughly 79 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.