Cost of Living in Cody, NE

With a cost of living index of 59, Cody, NE is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 13% below the Nebraska state average of 72. Cody is a small community of 180 residents.

Housing costs are the biggest factor in Cody's cost of living. The median monthly rent is $615 (53% below the US median of $1,319), and the median home value sits at $102,100 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.5x the median household income — well within traditional affordability guidelines.

The median household income in Cody is $68,594, which is 9% lower than the national median of $75,149. Residents spend roughly 11% 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 Cody. The area sees an average annual temperature of 49.1°F, with summers averaging 73°F and winters around 26°F. Annual rainfall totals 20.9 inches spread over roughly 91 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.