Cost of Living in Elm Creek, NE

With a cost of living index of 71, Elm Creek, 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. Elm Creek is a small community of 1,146 residents.

Housing costs are the biggest factor in Elm Creek's cost of living. The median monthly rent is $767 (42% below the US median of $1,319), and the median home value sits at $197,100 (35% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Elm Creek is $75,625, which is 1% higher than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Elm Creek. The area sees an average annual temperature of 51.9°F, with summers averaging 75°F and winters around 29°F. Annual rainfall totals 26.4 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.