Cost of Living in Kearney, NE

With a cost of living index of 79, Kearney, NE is a very affordable place to live. Living here is 21% cheaper than the national average and 7% above the Nebraska state average of 72. With a population of 34,024, Kearney is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Kearney's cost of living. The median monthly rent is $922 (30% below the US median of $1,319), and the median home value sits at $235,800 (23% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Kearney is $69,790, which is 7% lower than the national median of $75,149. Residents spend roughly 16% 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 Kearney. 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.