Cost of Living in Cozad, NE

With a cost of living index of 66, Cozad, NE is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 6% below the Nebraska state average of 72. Cozad is a small community of 3,944 residents.

Housing costs are the biggest factor in Cozad's cost of living. The median monthly rent is $820 (38% below the US median of $1,319), and the median home value sits at $118,600 (61% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Cozad is $50,161, which is 33% lower than the national median of $75,149. Residents spend roughly 20% 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 Cozad. The area sees an average annual temperature of 49.9°F, with summers averaging 73°F and winters around 28°F. Annual rainfall totals 21.1 inches spread over roughly 88 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.