Cost of Living in Elk Creek, NE

With a cost of living index of 68, Elk Creek, NE is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 4% below the Nebraska state average of 72. Elk Creek is a small community of 129 residents.

The median household income in Elk Creek is $55,227, which is 27% lower than the national median of $75,149. Residents spend roughly 8% 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 Elk Creek. The area sees an average annual temperature of 53.1°F, with summers averaging 75°F and winters around 29°F. Annual rainfall totals 34.7 inches spread over roughly 95 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.